Common use of CREDIT AND DEBIT ENTRIES; RECORDS RETENTION Clause in Contracts

CREDIT AND DEBIT ENTRIES; RECORDS RETENTION. Customer shall obtain an authorization (“Authorization Agreement”), as required by the Rules, from the Receiver whose account will be debited as the result of an Entry initiated by Xxxxxxxx. Customer shall retain each Authorization Agreement in original form while it is in effect and the original or a copy of each such authorization for two (2) years after termination or revocation of such authorization as stated in the Rules. Upon request, Customer shall furnish the original or a copy of the authorization to any affected Participating Depository Financial Institution, as defined in the Rules. Customer will receive immediately available funds for any electronic debit Entry initiated by it on the Settlement Date applicable thereto.

CREDIT AND DEBIT ENTRIES; RECORDS RETENTION. Customer shall obtain an authorization (“Authorization Agreement”), as required by the Rules, from the Receiver whose account will be debited as the result of an Entry initiated by XxxxxxxxCustomer. Customer shall retain each Authorization Agreement in original form while it is in effect and the original or a copy of each such authorization for two (2) years after termination or revocation of such authorization as stated in the Rules. Upon request, Customer shall furnish the original or a copy of the authorization to any affected Participating Depository Financial Institution, as defined in the Rules. Customer will receive immediately available funds for any electronic debit Entry initiated by it on the Settlement Date applicable thereto.