Common use of DAY ENTRIES Clause in Contracts

DAY ENTRIES. A Credit or Debit Entry with an Effective Entry Date of the date of the transmission of the Entry or File to Bank and received by Bank prior to 12:00pm PT shall be considered to be a Same Day Entry. Entries above $1,000,000 are not eligible for Same Day ACH processing. In addition to any other fees that Customer is obligated to pay Bank, Customer hereby agrees to pay Bank the Same Day Entry fee established by Bank from time to time for Same Day Entries transmitted to Bank by Customer (the “Same Day Fee”). For the avoidance of doubt, if Customer submits an Entry as a Same Day Entry in error, Customer shall be liable for the Same Day Fee and for any other liabilities or losses associated with the erroneous or unauthorized initiation of an Entry on a same day basis, including but not limited to, the debiting of an account prior to the date on which such account should have been debited.

DAY ENTRIES. A Credit or Debit Entry with an Effective Entry Date of the date of the transmission of the Entry or File to Bank and received by Bank prior to 12:00pm 9:45 am PT shall be considered to be a Same Day Entry. Entries above $1,000,000 100,000 are not eligible for Same Day ACH processing. In addition to any other fees that Customer is obligated to pay Bank, Customer hereby agrees to pay Bank the Same Day Entry fee established by Bank from time to time for Same Day Entries transmitted to Bank by Customer (the “Same Day Fee”). For the avoidance of doubt, if Customer submits an Entry as a Same Day Entry in error, Customer shall be liable for the Same Day Fee and for any other liabilities or losses associated with the erroneous or unauthorized initiation of an Entry on a same day basis, including but not limited to, the debiting of an account prior to the date on which such account should have been debited.