Common use of Recurring Payment Clause in Contracts

Recurring Payment. If the Transmit Date for any Recurring Payment falls on a day other than a business day or is a day that does not exist for the specified recurring period, then the Transmit Date for that Recurring Payment will be rescheduled on the next following business day of the specified period. For example, if the 5th day of each month is normally the Transmit Date for a Recurring Payment, and in one month during the recurring period the 5th falls on a Saturday, then the Transmit Date for the Recurring Payment to be made for that month would be the 7th day of the month (provided that the 7th is a business day). Differences in the days of the week may reduce the number of business days between your scheduled Transmit Date and your Due Date in any specified recurring period. In order to ensure that your Recurring Payments always allow at least five (5) business days between the Transmit Date and the Due Date, we recommend that you schedule the Transmit Date for each Recurring Payment to be at least ten (10) calendar days prior to your Due Date. Please note that the Payment Guarantee described below does not apply to a Recurring Payment if, for that specific Payment, there are not at least five (5) business days, or two (2) business days in the case of Payments that may be remitted electronically, between the Transmit Date and the Due Date.

Recurring Payment. If the Transmit Date for any Recurring Payment falls on a day other than a business day or is a day that does not exist for the specified recurring period, then the Transmit Date for that Recurring Payment will be rescheduled on the next following business day of the specified period. For example, if the 5th day of each month is normally the Transmit Date for a Recurring Payment, and in one month during the recurring period the 5th falls on a Saturday, then the Transmit Date for the Recurring Payment to be made for that month would be the 7th day of the month (provided that the 7th is a business day). Differences in the days of the week may reduce the number of business days between your scheduled Transmit Date and your Due Date in any specified recurring period. In order to ensure that your Recurring Payments are always allow initiated at least five (5) business days between the Transmit Date and the before your Due Date, we recommend that you schedule the Transmit Date for each Recurring Payment to be at least ten (10) calendar days prior to your Due Date. Please note that the Payment Guarantee described below does not apply to a Recurring Payment if, for that specific Payment, there are the Transmit Date is not a date that is at least five (5) business days, or two (2) business days in the case of Payments that may be remitted electronically, between the Transmit Date and prior to the Due Date.

Recurring Payment. If the Transmit Date for any Recurring Payment falls on a day other than a business day or is a day that does not exist for the specified recurring period, then the Transmit Date for that Recurring Payment will be rescheduled on the next following business day of the specified period. For example, if the 5th day of each month is normally the Transmit Date for a Recurring Payment, and in one month during the recurring period the 5th falls on a Saturday, then the Transmit Date for the Recurring Payment to be made for that month would be the 7th day of the month (provided that the 7th is a business day). Differences in the days of the week may reduce the number of business days between your scheduled Transmit Date and your Due Date in any specified recurring period. In order to ensure that your Recurring Payments always allow at least five (5) business days between the Transmit Date and the Due Date, we recommend that you schedule the Transmit Date for each Recurring Payment to be at least ten (10) calendar days prior to your Due Date. Please note that the Payment Guarantee described below does not apply to a Recurring Payment if, for that specific Payment, there are not at least five (5) business days, or two (2) business days in the case of Payments that may be remitted electronically, between the Transmit Date and the Due Date. Certain Services in Online Banking may not permit you to schedule Recurring Payments. Please refer to other sections of this Agreement, applicable User’s Guides and/or on-screen help for more information about the capabilities of particular Services.