Common use of Provisional Credit and Availability of Funds Clause in Contracts

Provisional Credit and Availability of Funds. Upon Acceptance of the File, Bank shall grant Customer’s Account Provisional Credit, defined below, for the total amount of the File. “Provisional Credit” means that the credit is made to Customer’s account subject to final payment of the Items and subject to the terms of the Deposit Account Agreement. For the purpose of determining availability of funds, the Bank may hold funds for the period of time permitted by Bank’s funds availability disclosure. Files will only be processed on Business Days.

Provisional Credit and Availability of Funds. Upon Acceptance acceptance of the File, Bank shall grant Customer’s Account Provisional Credit, defined below, Credit for the total amount of the Corrected File or the Accepted File, as applicable. As used herein, “Provisional Credit” means that the credit is made to Customer’s account Account subject to final payment of the Items Checks and subject to the terms of the Deposit Account Agreement. For the purpose of determining availability of funds, the Bank may hold funds for the period of time permitted by Bank’s funds availability disclosure. Files will only be processed on Business Daysregulatory requirements.