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Common use of Overdraft Clause in Contracts

Overdraft. If eligible, you can choose to enable a feature that will allow you to extend your Subscription with more Members and/or Workers than you initially purchased (“Overdraft”) up to a limit built into this feature (“Overdraft Limit”). You can use Overdraft to add: i) Additional Members – where each additional Member you add to your Subscription as part of Overdraft will start when they become a Member of your Organization and will end at the end of the Subscription Period in which you added the Additional Member (“co-termed”); ii) Additional Workers – where Workers will be added to your Subscription upon our confirmation and will also be co-termed. You will reasonably cooperate with us if we need you to confirm your Overdraft and verify or provide us with Overdraft statistics. If you reach the Overdraft Limit during your Subscription Period, you will inform us so that we can issue an invoice for Overdraft Members or Workers. If you do not reach the Overdraft Limit during your Subscription Period, we will bill you for the Overdraft as part of Subscription Billing renewal. You can choose to pay fees for additional Members and/or Workers at any time. After you pay for your Overdraft, the Overdraft Limit will be reset. The Trial Subscription and Free Subscription Plans are not eligible for the Overdraft feature.

Appears in 5 contracts

Sources: On Premises License Agreement, On Premises License Agreement, On Premises License Agreement

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