Examples of Receiving Depository Bank in a sentence
The Business Entity acknowledges and agrees that, if an Entry describes the Receiver inconsistently by name and account number, payment of the Entry transmitted to the Receiving Depository Bank might be made by the Receiving Depository Bank (or by the Bank in the case of an On-Us Entry) on the basis of the account number even if it identifies a person different from the named Receiver, and that the Business Entity's obligation to pay the amount of the Entry to the Bank is not excused in such circumstances.
ProgramBook BalanceBank BalanceLow Rent$ 67,831$ 67,774Voucher 16,497 16,497Total$ 84,328$ 84,271 Similar to cash deposits, investments held at financial institutions can be categorized according to three levels of risk.
In addition to the limitations on liability as provided in the General Terms, Fattmerchant and Financial Institution shall not be liable to Sub-Merchant or Sub-Merchant’s customers or any other person for any delay by an ACH Operator or Receiving Depository Bank in processing any credit or debit Entry, nor shall neither Fattmerchant nor Financial Institution be held liable for the failure of a third Party to process, credit, or debit any such Entry or for other acts of omission.
In the event any Entry is returned in accordance with the Rules by a Receiving Depository Bank after Fattmerchant has provided credit, Merchant shall, upon demand, repay Fattmerchant the amount of the Return Entry.
The Customer agrees that if an Entry describes the Receiver inconsistently by name and account number, payment of the Entry transmitted to the Receiving Depository Bank might be made by the Receiving Depository Bank (or by the Bank in the case of an On-Us Entry) on the basis of the account number even if it identifies a person different from the named Receiver, and that the Customer's obligation to pay the amount of the Entry to the Bank is not excused in such circumstances.
The Bank shall promptly pay the Customer the amount of each credit Entry returned by a Receiving Depository Bank pursuant to this Agreement.
In addition to the limitations on liability as provided in the General Terms, SimplePay and Financial Institution shall not be liable to Sub-Merchant or Sub-Merchant’s customers or any other person for any delay by an ACH Operator or Receiving Depository Bank in processing any credit or debit Entry, nor shall neither SimplePay nor Financial Institution be held liable for the failure of a third Party to process, credit, or debit any such Entry or for other acts of omission.
In the event any Entry is returned in accordance with the Rules by a Receiving Depository Bank after Bank has provided credit, Customer shall, immediately upon demand, repay Bank the amount of the Return Entry.
In the event any Entry is returned inaccordance with the Rules by a Receiving Depository Bank after American Payments Solutions LLC has provided credit, Merchant shall, upon demand, repay American Payments Solutions LLC the amount of the Return Entry.
Customer shall settle with and pay Bank for the amount of each Debit Entry returned by a Receiving Depository Bank (“RDFI”) or Debit Entry dishonored by Bank.