Originating Bank definition

Originating Bank has the meaning specified in Section 12.9(e).

Originating Bank has the meaning specified in Subsection 10.08(d).

Originating Bank means the bank that receives the first payment order initiating a payment transaction. In a credit transfer the originating bank is the payor's bank. In a debit transfer the originating bank is the payee's bank.

Examples of Originating Bank in a sentence

• The terms and conditions that follow apply if you request that we act as the "Originating Bank" for a "payment order" from you or as the "Beneficiary Bank" for a payment order to you as these terms are defined in the UCC.

• PeopleGuru and Customer may each be required to enter into separate agreements with the Originating Bank.

• Customer shall execute all documents requested by PeopleGuru or the Originating Bank to originate debit or credit entries through the nationwide automated clearing house system on a bank account designated by Customer (each, an “ACH Entry”), and provide any other documents or information on an ongoing basis that may be requested by PeopleGuru or the Originating Bank to effectuate such ACH Entries.

• Sage Payroll agrees to process Your direct deposit payroll by initiating electronic debit and credit instructions through an Originating Bank.

• For incoming ACH deposit transfers (ACH deposits that are originated at an external bank and sent to your Account) we receive the transaction details on the Processing Date, and the funds arrive on the Effective Date (the Effective Date can be up to five business days after the Processing Date, at the discretion of the Originating Bank).

More Definitions of Originating Bank

Originating Bank has the meaning specified in subsection 12.7(d). ----------------

Originating Bank means BofI Federal Bank or another chartered bank that originates Customer Loans.

Originating Bank has the meaning specified in subsection 10.8(d).

Originating Bank means an institution that (i) is a party, as grantor, to a Participation with the Issuer, as participant and (ii) on the Issue Date, satisfies the applicable Rating Requirement.

Originating Bank means the bank which receives the first payment order initiating a payment transaction;

Originating Bank means the participant with which an Originator holds an account for the purpose of collection of Direct Debit Payments and through which the Originator initiates the collection of payments;

Originating Bank has the meaning assigned to such term in SECTION 13.8(c).