Provisional Payment. Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid (you) in the amount of such entry.
Appears in 3 contracts
Sources: Depositor/Member Agreement, Depositor/Member Agreement, Bill Pay Agreement
Provisional Payment. Credit given by us to you with respect to an automated clearing house (“ACH”) credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid (you) you in the amount of such entry.
Appears in 2 contracts
Sources: Business Loan and Security Agreement Supplement (FullPAC, Inc.), Business Loan and Security Agreement Supplement (Helio Corp /FL/)
Provisional Payment. Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid (you) you in the amount of such entry.
Appears in 1 contract
Sources: Merchant Processing Agreement