Common use of Electronic Funds Transfer Authorization Clause in Contracts

Electronic Funds Transfer Authorization. If you elected to use electronic funds deposit to transfer or accept deposits, you are named on the bank account listed in the Purchase Application and can authorize funds to be withdrawn from and deposited into it. You further authorize us to initiate any correcting debit or credit to your account that may be necessary to make the withdrawal or deposit you have elected in this Purchase Application and Agreement.

Appears in 5 contracts

Samples: Purchase Application Agreement, Purchase Agreement, Purchase Agreement

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