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Common use of Recurring Payments Clause in Contracts

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business day, it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 2 contracts

Samples: Consumer Online Banking Agreement, Consumer Online Banking Agreement

Recurring Payments. When a recurring payment is processed, processed it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business day, date (weekends and federal holidays) it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date; . • If the recurring payment’s “Pay After” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date.

Appears in 2 contracts

Samples: Depositor/Member Agreement, Depositor/Member Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business daydate (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; . If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 2 contracts

Samples: Online Banking, Billpay & Electronic Services Agreement, Online Banking, Billpay & Electronic Services Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is not a non-business dayBusiness Day, it is adjusted based upon the following rules: o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; . o If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 2 contracts

Samples: Electronic Services Agreement, Electronic Services Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business daydate (generally weekends and holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; If .  I f the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 1 contract

Samples: Billpay Service Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business day, it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business day date prior to the calculated processing date; . If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date day after the calculated processing date. month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Online Banking Service Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business daydate (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “payment‘s "Pay Before" option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date; . If the recurring payment’s "Pay After" option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date.

Appears in 1 contract

Samples: Bill Pay Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is not a non-business dayBusiness Day, it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; . • If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 1 contract

Samples: Electronic Services Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-non- business daydate (generally weekends and certain holidays), it is adjusted based upon the following rules: * If the recurring payment’s “payments "Pay Before" option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing process date; . * If the recurring payment’s “payments "Pay After" option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date.. 12. Stopping or Modifying Bill

Appears in 1 contract

Samples: Online Bill Payment Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business daydate (generally weekends and holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; . • If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 1 contract

Samples: Billpay Service Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business daydate (generally weekends and certain holidays), it is adjusted based upon the following rules: o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date; . o If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.

Appears in 1 contract

Samples: Bill Payment Service Agreement

Recurring Payments. When a recurring payment is processed, processed it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business day, date (weekends and federal holidays) it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing process date for the new occurrence of the payment pay- ment is adjusted to the first business date prior to the calculated processing process date; . • If the recurring payment’s “Pay After” option is selected, the processing process date for the new occurrence of the payment is adjusted to the first business date after the calculated processing process date.

Appears in 1 contract

Samples: Bill Pay Agreement