Common use of Pre-funding Clause in Contracts

Pre-funding. Financial Institution reserves the right to require Company to pre-fund an Account maintained at Financial Institution prior to the Settlement Date of the ACH file. Company will provide immediately available and collected funds sufficient to pay all Entries initiated by Company prior to initiating any Entries for which pre-funding is required. Financial Institution will not be obligated to process, transmit, or settle for the Entries received from Company if available funds are not on deposit.

Pre-funding. Financial Institution reserves the right to require Company to pre-fund an Account maintained at Financial Institution prior to the Settlement Date of the ACH file. Financial Institution shall determine whether pre-funding is required based on criteria established from time to time by Financial Institution. Financial Institution will communicate directly to Company if pre-funding is required and, if requested by Company, will provide Company with an explanation of its pre- funding criteria. If it is determined that pre-funding is required, Company will provide immediately available and collected funds sufficient to pay all Entries initiated by Company prior to initiating any Entries for which pre-funding is required. Financial Institution will (a) not be obligated to process, transmit, or settle for the Entries received from Company if available funds are not on deposit.later than 3:00

Pre-funding. Financial Institution reserves the right to require Company to pre-fund an Account maintained at Financial Institution prior to the Settlement Date of the ACH file. Company will provide immediately available and collected funds sufficient to pay all Entries initiated by Company prior to initiating any Entries for which pre-funding is required. Financial Institution will not be obligated to process, transmit, or settle for the Entries received from Company if available funds are not on deposit.will