Settlement and Posting of Returns Clause Samples

Settlement and Posting of Returns. The ACH Originator will settle daily returns against the applicable Customer’s bank account, as designated by such Customer from time to time. Settlement with each Customer will be done daily. Each day for which there are returns, the ACH Originator will initiate a debit to the Customer’s specified account for the total amount of debits received by ACH Originator that day. If the ACH Originator retries certain return items, first time NSF returns re-deposited by ACH Originator will not be debited to the Customer’s specified account Each Customer is ultimately responsible to cover on a daily basis all return debits incurred by ACH Originator and in the event collections have ceased, such Customer shall be obligated to pay within *** (**) **** any unfunded return amounts not funded to cover all remaining return debits. CSG will post to a Subscriber’s CCS account a returned payment transaction for each Subscriber whose electronic fund transfer payment is returned or reversed on the date that such return or reversal occurs.