Overlimit Entry definition

Overlimit Entry means an Entry the amount of which would cause the aggregate amount of In-Process Entries to exceed the Entry Settlement Limit. Member Client agrees that Financial Institution will not process an Overlimit Entry. Financial Institution will suspend any Overlimit Entry submitted by Member Client and may, following its receipt of an Overlimit Entry; suspend all In-Process Entries. Member Client acknowledges that any Overlimit Entry or other In-Process Entries suspended by Financial Institution will not settle on their scheduled Settlement Date. If Member Client wishes to initiate an Entry that would cause the amount of In-Process Entries to exceed the Entry Settlement Limit, Member Client may submit to Financial Institution its request to initiate an Entry that otherwise would be an Overlimit Entry. Member Client must submit its request at least two (2) Business Days prior to the date on which Member Client wishes to initiate the Entry that otherwise would be an Overlimit Entry. Financial Institution may require from Member Client financial or other information in connection with Financial Institution's consideration of the request. Financial Institution may grant or deny Member Client's request at its sole discretion. In addition to the foregoing, Financial Institution generally reserves the right to limit the nature and amount of the preauthorized debit/credit Entries processed under this Agreement or to refuse to process any debit/credit Entries under this Agreement if, in Financial Institution's sole judgment (i) there is reasonable cause to believe that any Entry will be returned or will not settle in the ordinary course of the transaction for any reason, (ii) to do otherwise would violate any limit set by the applicable clearing house association or any governmental authority or agency to control payment system risk, or (iii) a preauthorized credit Entry or the return of a preauthorized debit Entry would create an overdraft of Member Client's accounts. If any of the foregoing actions are taken by Financial Institution with respect to a particular preauthorized debit/credit Entry, Financial Institution will notify Member Client as promptly as practicable, but in no event later than 2 Business Days after its decision. Member Client may not reinitiate entries except as prescribed by the Rules.
Sample 1Sample 2Sample 3
Overlimit Entry means an Entry the amount of which would cause the aggregate amount of In-Process Entries to exceed the Entry Settlement Limit.
Sample 1Sample 2Sample 3
Overlimit Entry means an Entry the amount of which would cause the aggregate amount of In-Process Entries to exceed the Entry Settlement Limit. Third-Party Sender agrees that Financial Institution will not process an Overlimit Entry. Financial Institution will suspend any Overlimit Entry submitted by Third-Party Sender and may, following its receipt of an Overlimit Entry; suspend all In-Process Entries. Third-Party Sender acknowledges that any Overlimit Entry or other In-Process Entries suspended by Financial Institution will not settle on their scheduled Settlement Date. If Third-Party Sender wishes to initiate an Entry that would cause the amount of In-Process Entries to exceed the Entry Settlement Limit, Third-Party Sender may submit to Financial Institution its request to initiate an Entry that otherwise would be an Overlimit Entry. Third-Party Sender must submit its request at least two (2) Business Days prior to the date on which Third-Party Sender wishes to initiate the Entry that otherwise would be an Overlimit Entry. Financial Institution may require from Third-Party Sender financial or other information in connection with Financial Institution's consideration of the request. Financial Institution may grant or deny Third-Party Sender's request at its sole discretion. In addition to the foregoing, Financial Institution generally reserves the right to limit the nature and amount of the preauthorized debit/credit Entries processed under this Agreement or to refuse to process any debit/credit Entries under this Agreement if, in Financial Institution's sole judgment (i) there is reasonable cause to believe that any Entry will be returned or will not settle in the ordinary course of the transaction for any reason, (ii) to do otherwise would violate any limit set by the applicable clearing house association or any governmental authority or agency to control payment system risk, or (iii) a preauthorized credit Entry or the return of a preauthorized debit Entry would create an overdraft of Third-Party Sender's accounts. If any of the foregoing actions are taken by Financial Institution with respect to a particular preauthorized debit/credit Entry, Financial Institution will notify Third-Party Sender as promptly as practicable, but in no event later than 2 Business Days after its decision. Third-Party Sender may not reinitiate entries except as prescribed by the Rules.
Sample 1Sample 2Sample 3

Examples of Overlimit Entry in a sentence

  • Sub-Merchant agrees that American Payments Solutions LLC will not process an Overlimit Entry.

  • Sub-Merchant acknowledges that any Overlimit Entry or other In-Process Entries suspended by American Payments Solutions LLC will not settle on their scheduled Settlement Date.

  • If Sub-Merchant wishes to initiate an Entry through American Payments Solutions LLC that would cause the amount of In-Process Entries to exceed the Entry Settlement Limit, Sub-Merchant may submit to American Payments Solutions LLC its request to initiate an Entry that otherwise would be an Overlimit Entry.

  • American Payments Solutions LLC will suspend any Overlimit Entry submitted by Sub-Merchant and may, following its receipt of an Overlimit Entry, suspend all In-Process Entries.

  • Sub-Merchant must submit its request at least two (2) banking days prior to the date on which Sub-Merchant wishes to initiate the Entry that otherwise would be an Overlimit Entry.


More Definitions of Overlimit Entry

Overlimit Entry means an Entry the amount of which would cause the aggregate amount of In-Process Entries to exceed the Entry Settlement Limit. Customer agrees that Bank will process an Overlimit Entry at Bank’s discretion. Bank may suspend any Overlimit Entry submitted by Customer and may, following its receipt of an Overlimit Entry; suspend all In-Process Entries. Customer acknowledges that any Overlimit Entry or other In-Process Entries suspended by Bank may not settle on their scheduled Settlement Date. Bank may provide Customer with temporary increase to the ACH limit, allowing origination of the Overlimit Entry. If Customer wishes to initiate an Entry that would cause the amount of In-Process Entries to exceed the Entry Settlement Limit, Customer may submit to Bank its request to initiate an Entry that otherwise would be an Overlimit Entry. Customer should submit its request at least two (2) Business Days prior to the date on which Customer wishes to initiate the Entry that otherwise would be an Overlimit Entry. Bank may require from Customer financial or other information in connection with Bank’s consideration of the request and Bank may grant or deny Customer's request at its sole discretion. In addition to the foregoing, Bank generally reserves the right to limit the nature and amount of the preauthorized debit/credit Entries processed under this Agreement or to refuse to process any debit/credit Entries under this Agreement if, in Bank's sole judgment (i) there is reasonable cause to believe that any Entry will be returned or will not settle in the
Sample 1
Overlimit Entry means an Entry that would exceed the daily or monthly aggregate limits that are set by the Bank in the Bank’s sole discretion. "Participating Depository Financial Institutions" means, collectively, the Bank and all other financial institutions holding accounts held by you and Recipients which are accessible through an applicable regional clearing house association.
Sample 1
Overlimit Entry means an Entry the amount of which would cause the aggregate amount of In-Process Entries to exceed the Entry Settlement Limit. “Password” means confidential, unique personal numbers, codes, marks, signs, public keys, or other information composed of a string of characters used as a means of authenticating and accessing a Service.
Sample 1

Related to Overlimit Entry

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Replacement Reserve As defined in Section 9.5.1.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Interest Reserve Account” and which shall be an Eligible Account.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];