Right to Refund for Debit Entries. When initiating a Debit Entry, Client acknowledges the right of a third party to stop payment on such Entry to a Consumer's account or to obtain a return of the funds withdrawn from a Consumer's account in accordance with the procedures set forth in the NACHA Rules and pursuant to Regulation E. Client shall promptly reimburse Bank for all funds Client has received when a Consumer follows these procedures.
Appears in 4 contracts
Samples: Treasury Management Services Agreement, Treasury Management Services Agreement, Treasury Management Services Agreement
Right to Refund for Debit Entries. When initiating a Debit Entry, Client acknowledges you acknowledge the right of a third party Receiver to stop payment on such Entry to a Consumerconsumer's account or to obtain a return of the funds withdrawn from a Consumerconsumer's account in accordance with the procedures set forth in the NACHA Rules and pursuant to Regulation E. Client shall promptly reimburse Bank for all funds Client has received when a Consumer follows these procedures.Regulation
Appears in 1 contract
