Prefunding. To qualify Customer as an ACH Originator, Bank may require credit transactions to be prefunded. If prefunding is required, Customer will be required to have sufficient collected funds on deposit in the Offset Account on ACH submission dates as a condition for Bank’s processing of any outgoing ACH Credit Entry. When prefunding is in place, the offset transaction to remove funds from Customer’s account will occur on the date the transactions are submitted rather than on the Effective Entry Date. Bank’s normal overdraft policies and fees will apply if sufficient funds are not available.
Prefunding. All bargaining unit members who are eligible for health benefits must contribute, including permanent intermittent employees. Bargaining unit members whose appointment tenure and/or time base make them ineligible for health benefits, such as: seasonal, temporary, and employees whose time base is less than half time, do not contribute. Bargaining unit members not subject to OPEB prefunding shall begin contributing upon attaining eligibility for health benefits. New hires and employees transferring into Bargaining Unit 6 shall begin contributing immediately, unless they are not subject, as set forth above.
Prefunding. All Bargaining Unit members who are eligible for health benefits must contribute, including permanent intermittent employees. Bargaining unit members whose appointment tenure and/or time base make them ineligible for health benefits, such as: seasonal, temporary, and employees whose time base is less than halftime, do not contribute. The employee prefunding contribution for a permanent intermittent employee shall be based on a ratio comparing their annual scheduled hours of work in comparison to those of a corresponding permanent employee for that position. Bargaining unit members not subject to OPEB prefunding shall begin contributing upon attaining eligibility for health benefits. New hires and employees transferring into Bargaining Unit 10 shall begin contributing immediately, unless they are not subject, as set forth above.
Prefunding. Employer shall timely provide to HQY all benefit claims pre-funding amounts. Employer acknowledges and agrees that all benefits claim pre-funding amounts submitted by Employer to HQY: (i) shall be comprised of Employer’s general assets (and will be treated as such by HQY); (ii) does not consist of Plan assets or participant/employee contributions, whether made by salary reduction or otherwise, within the meaning of ERISA, without regard to whether ERISA applies, and is not otherwise subject to any restrictions; and (iii) shall not be segregated or set aside in a trust or escrow account by HQY. Employer agrees to pay HQY the entire amount delivered, or deliverable, to participants in all Plans or programs, regardless of whether Employer collects sufficient payroll deductions from Employer’s participants. • If it is determined that the amount of prefunding requested from the Employer is not sufficient, HQY may request additional prefunding. Legal compliance • Employer is responsible for compliance with applicable law with respect to the services provided by HQY under this Schedule, including, without limitation, the review and approval of HQY’s form documents and templates, and HQY’s administration process.
Prefunding. You understand that the Credit Union may prefund your external account transfer. The Credit Union may withdraw the money from your account before the settlement date of the external account transfer in order to verify the funds are available prior to the initiation of the transfer. If funds are not available for prefunding, then you agree that the Credit Union may cancel the external account transfer, and it will be your responsibility to reinitiate the external account transfer.
Prefunding. The Bank generally debits Company’s account for credit Entries (including debit reversals) on the settlement date unless Company is prefunding the Entries. Prefunding means that Company pays for all credit Entries three (3) days prior to the credit date. The Bank may, at its discretion, at any time and without notice, require payment before the Bank processes Company’s Entries. Even if the Bank has done so in the past, the Bank is not obligated to process any Entries without having first been paid by Company, but, if Bank does so, the amount is immediately due and payable without notice or demand.
Prefunding. Bank may require Client to establish one or more Accounts that will be used to settle Requests (each a “Settlement Account”). Client must maintain in the Settlement Account, as of the applicable effective date of the Request (the “Entry Effective Date”) and Settlement Date for each transaction, collected funds sufficient to cover all credit Requests originated by Client or otherwise submitted by or on behalf of Client to Bank for processing. Bank may place a hold on funds in a Settlement Account in the amount of any credit Request, pending settlement thereof, and in that event, such funds will be otherwise unavailable for use or for transfer to any other account. Client further authorizes Bank, without prior notice or demand, to debit the Settlement Accounts at the opening of business on the applicable Settlement Date in the amount of each credit Request. Client agrees to immediately provide sufficient available funds to reimburse and indemnify Bank if any debit Request is rejected after any funds have been withdrawn, which were made available as a result of a debit Request or if any adjustment relating to any debit Request is received by us. Bank reserves the right to require Client to pre-fund a Settlement account maintained at Bank prior to the Settlement Date of the ACH file. Bank shall determine whether pre-funding is required based on criteria established from time to time by Bank. Bank will communicate directly to Client if pre-funding is required and, if requested by Client, will provide Client with an explanation of its pre-funding
Prefunding. The Bank reserves the right to require the Company to pre-fund an account maintained at the Bank. The Bank will communicate directly to the Company if pre-funding is required and, if requested by the Company, will provide the Company with an explanation of its pre-funding criteria. Bank may suspend Company’s ACH processing if Company fails to establish the required amount of reserves within the time period specified by Bank in its communication to Company.
Prefunding. Bank reserves the right on notice to Client to require Client to prefund Entries in advance of transmittal by Bank or otherwise to require adequate collateral to secure in advance the amount of such payment. Once Bank has given notice of such requirement, Client agrees to comply with this prepayment or collateralization obligation until such time as Bank shall give notice waiving all or any part of such requirement. Bank will communicate to Client if prefunding is no longer required.
(i) Prefunding requires the Client to provide Collected Funds sufficient to pay all ACH Credit Entries initiated by Client to the Account no later than the deadline established by Bank one Business Day before each Settlement Date. Bank will transfer such amounts into a Bank controlled account for further processing according to these Service Terms & Conditions.
(ii) If Client does not have an adequate amount of Collected Funds on deposit in the Account for any ACH Credit Entries or ACH file by the deadline above, Bank will periodically attempt to complete the batch until successful or until two business days have elapsed, whichever comes first. Clientwill be notified by Bank when a Prefunding failure occurs and acknowledges the ACH batch’s status in ONPointe will reflect that a Prefunding failure occurred. Service Terms & Conditions.
Prefunding. On the Closing Date, approximately $123,261,919 from the sale of the Offered Certificates and the Class B-4 Certificates (the "Pre-Funded Amount") will be deposited with the Trustee into an account (the "Pre-Funding Account") and be used by the Trust to purchase additional Mortgage Loans during the Pre-Funding Period for the Mortgage Loan Pool.
