Payor Acknowledgement for Cash Management PADs Sample Clauses

Payor Acknowledgement for Cash Management PADs. Where the Payor and the Customer are the same Person, the Customer agrees Royal Bank may debit its designated account for such PAD. Where the Payor and Payee are not the same Person, the Customer confirms the Customer and the Payee are closely-affiliated Businesses, the Payor has received, reviewed, and Authorized this Payee Letter of Undertaking, and the Customer, Royal Bank, and the Processing Member are authorized to debit the designated accounts of the Payor. The Customer confirms this subsection constitutes proper authority for the Processing Member to debit the Customer’s or Payor’s designated accounts for Cash Management PADs in accordance with the applicable account agreement with the Processing Member.
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Related to Payor Acknowledgement for Cash Management PADs

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  • Customer Acknowledgements The Customer acknowledges and agrees that:

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  • Your Acknowledgements You acknowledge and agree that:

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  • Acknowledgement of Receipt Each of the parties acknowledges receiving an executed copy of this Agreement.

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