Automatic Payment Plan Sample Clauses
An Automatic Payment Plan clause establishes a system where payments are made automatically on a recurring basis, typically through electronic transfers or direct debits from a designated account. This clause outlines the frequency, amount, and method of payment, ensuring that obligations such as monthly fees, loan installments, or subscription charges are paid without manual intervention. Its core practical function is to streamline the payment process, reduce the risk of missed or late payments, and provide predictability for both parties involved.
Automatic Payment Plan. The plan allows CLIENT to have its payment of the Fee withdrawn each month directly from its bank account and electronically transferred to ▇▇▇▇▇▇▇▇ ▇▇ LLC without having to write checks or mail payments. CLIENT will continue to receive a monthly billing statement approximately 10 to 14 days before the assigned due date and forward the funds to ▇▇▇▇▇▇▇▇ ▇▇ LLC. This transaction will be processed every month during the term of this Agreement regardless of whether your account is current, delinquent or paid ahead. You will need to complete and return the Automatic Payment Plan Authorization Agreement attached hereto as Schedule B-1.
Automatic Payment Plan. Enrollment in Lender’s Automatic Payment Plan, by signature of this Authorization Agreement, is required for Loan approval. By signing below, B▇▇▇▇▇▇▇ agrees to enroll in the Automatic Payment Plan and authorizes Lender to collect payments required under the terms of Borrower’s Business Loan and Security Agreement by initiating ACH debit entries to the Designated Checking Account in the amounts and on the dates provided in the Payment Schedule set forth in the accompanying Business Loan and Security Agreement Supplement. Borrower authorizes Lender to increase the amount of any scheduled ACH debit entry or assess multiple ACH debits for the amount of (i) any previously scheduled payment(s) that was not paid as provided in the payment schedule and (ii) any unpaid Fees. This authorization to d▇▇▇▇ ▇▇▇▇▇▇▇▇’s Designated Checking Account is to remain in full force and effect until L▇▇▇▇▇ has received written notification from Borrower of its termination in such time and in such manner as to afford Lender and B▇▇▇▇▇▇▇’s depository bank a reasonable opportunity to act on it or Borrower has satisfied all of its obligations set forth in the Business Loan and Security Agreement. Lender may suspend or terminate Borrower’s enrollment in the Automatic Payment Plan immediately if Borrower fails to keep Borrower’s designated checking account in good standing or if there are insufficient funds in Borrower’s checking account to process any payment. If Borrower revokes the authorization or Lender suspends or terminates Borrower’s enrollment in the Automatic Payment Plan because of the inability to process debits to Borrower’s Designated Checking Account, Borrower will be in “Default” of the Business Loan and Security Agreement as such term is defined in Section 29 therein. Upon default, Borrower will remain responsible for making timely payments pursuant to the alternative payment methods described in the Business Loan and Security Agreement. BUSINESS PURPOSE ACCOUNT. By signing below, Borrower attests that the Designated Checking Account was established for business purposes and not primarily for personal, family or household purposes.
Automatic Payment Plan. If you do not, you may be charged a dishonour fee, if we cannot draw a payment under your Automatic Payment Plan. We may discontinue your Automatic Payment Plan if the Plan is not working properly - for example, if the account you selected for debiting is regularly short of funds. We would normally contact you before we discontinue your Plan.
Automatic Payment Plan. If you are in the Automatic Payment Plan and the deduction is not honoured by the bank, you must immediately pay us the amount of the required deduction. We need not ask you for it first. If you want to change or discontinue your Automatic Payment Plan you should contact one of our branches. We will then arrange to make the change you want, or arrange for the Automatic Payment Plan to be discontinued. This change will be effective from the next statement date following the date of change. If you close the account we are debiting under your Automatic Payment Plan, you must:
Automatic Payment Plan. When the Principal is in the Automatic Payment Plan and the deduction is not honoured by the Bank, the Principal must immediately pay us the amount of the required deduction. We need not ask the Principal for it first. If the Principal wants to change or discontinue the Automatic Payment Plan, the Principal should contact one of our branches. If approved by us, we will then arrange to make the change the Principal wants. This change will be effective from the next statement date following the date of change. If the Principal closes the account we are debiting under the Automatic Payment Plan, the Principal must: If the Principal does not, the Principal may be charged a dishonour fee, if we cannot draw a payment under the Automatic Payment Plan. We may discontinue the Principal’s Automatic Payment Plan if the Plan is not working properly – for example, if the account the Principal selected for debiting is regularly short of funds. The Principal will then be taken to be in breach of these conditions and condition 30 will apply. We would normally contact the Principal before we discontinue the Plan.
Automatic Payment Plan. When the Principal has an Automatic Payment Plan and the deduction is not honoured by the bank, the Principal must immediately pay us the amount of the required deduction. We need not ask the Principal for it first. If the Principal wants to change or discontinue the Automatic Payment Plan, the Principal should contact one of our branches. If approved by us, we will then arrange to make the change the Principal wants. This change will be effective from the next statement date following the date of change. If the Principal closes the account we are debiting under the Automatic Payment Plan, the Principal must: • tell us the new account on which we can draw payments under the Automatic Payment Plan; or • cancel the Automatic Payment Plan. If the Principal does not, the Principal may be charged a dishonour fee, if we cannot draw a payment under the Automatic Payment Plan. We may discontinue the Principal’s Automatic Payment Plan if the Plan is not working properly – for example, if the account the Principal selected for debiting is regularly short of funds. We would normally contact the Principal before we discontinue the Plan.
Automatic Payment Plan. Lessee shall deliver an executed electronic funds transfer authorization in favor of Lessor.
Automatic Payment Plan. As the PIRANHA SWIM TEAM does not have a corporate office place, and is run by volunteers outside of its coaching staff, auto payment is the preferred method of billing for team dues, fees and other items. Please utilize the secure payment processing option through our website. Piranha Swim Team utilizes Team Unify billing system which is known for a superior support staff and secure network. If you have any questions or concerns, please contact the head coach or team administrator.
Automatic Payment Plan. Under the College’s automatic payment plan, the student agrees to make monthly electronic payments on the fifth day of each month throughout the semester. The student enrolls for this plan through the College’s payment plan service provider, NelNet (800-609-8056). Finance Charges will not apply as long as each monthly payment is made when due. There is a non- refundable fee to enroll in the plan. Additional information can be found at ▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.