Examples of ACH Accounts in a sentence
Company hereby authorizes Bank to transmit any Entry received by Bank from Company in accordance with the Rules and the terms of the ACH Agreement and to credit or debit the amount of such Entries to the ACH Account(s) specified by Company.
Unless we make alternative arrangements with you, the Designated ACH Accounts will also be the accounts to which Credit Entries are credited.
In the event you terminate your relationship with us or otherwise close Designated ACH Accounts, in our sole discretion, we may continue to hold funds in the Designated ACH Accounts or Reserve Account up to three (3) years or until all outstanding transactions or returns have cleared and the timeframe for rejection or return has expired.
In the event there are insufficient funds in the Designated ACH Accounts to cover your obligations for submitted transactions, including amounts owed to us for reversals and for fees and other amounts, we may set off or debit such amounts from any other accounts you have with us (including any accounts in which you hold an interest with any other person or entity or in another capacity), whether established at the time the Designated ACH Accounts are established or established at some later time.
Transactions submitted to us may be delayed until we are able to satisfy ourselves that the funds in the Designated ACH Accounts will be sufficient to satisfy any funding needs.
You are required to maintain a sufficient balance in the Designated ACH Accounts at all times to cover expected transaction dollars originated by you.
In the event you terminate your relationship w ith us or otherw ise close any Designated ACH Accounts, we may in our sole discretion continue to hold funds in the Designated ACH Accounts and Reserve Account until w e determine that all transactions have settled, that the time for all trailing activity has passed and that the time for assertion of all ACH Claims has expired.
We reserve the right to require you to deposit funds to be held by us in one of your ACH Accounts or in a separate Account held by and pledged to us for the purpose of paying for returned Entries or adjustment Entries, in the event that we determine, in our sole discretion, that such amount or Account is necessary due to a larger-than-usual number of returned Entries or adjustment Entries, or other adverse conditions with respect to you or Entries initiated by you.
You agree to maintain a sufficient balance in the Designated ACH Accounts at all times to cover your obligations w ith respect to ACH Entries , including reasonably expected or potential ACH Claims.
If we determine you do not have sufficient funds in the Designated ACH Accounts at any time, we may debit any other accounts you now or in the future have with us (including any accounts in which you hold an interest with any other person or entity or in another capacity).