Reversing Entry definition

Reversing Entry refers to an ACH debit to either the Customer’s Account or the Bank’s Account for the purpose of processing a Return or Reversal.
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Reversing Entry means a Credit or Debit Entry that reverses an Erroneous Entry.
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Examples of Reversing Entry in a sentence

  • You understand and agree that any amount we credit you for a Reversing Entry is provisional until Bank receives final settlement for such Reversing Entry in accordance with the Rules and is subject to reversal or adjustment at any time without notice to you.

  • You represent and warrant to Bank that each Reversing Entry initiated by you is initiated to reverse and Erroneous Entry and otherwise complies with the Rules in all respects.

  • You agree to pay to Bank (i) the amount of each Credit Entry originated by you in immediately available funds on or before the settlement date and time for the Credit Entry, and (ii) the amount of each returned or reversed Debit Entry (including any Reversing Entry) on or before the settlement date and time for the returned or reversed Debit Entry.

  • You agree to maintain in the applicable Designated Account a balance of available funds to pay for any Credit Entry or returned or reversed Debit Entry (including any Reversing Entry) and Bank will debit the Designated Account for the total amount of each such ACH Entry.

  • You agree to maintain inthe applicable Designated Account a balance of available funds to pay for any Credit Entry or returned or reversed Debit Entry (including any Reversing Entry) and Bank will debit the Designated Account for the total amount of each such ACH Entry.

  • The Reversing Entry must be available to the Receiving Depository Financial Institution (“RDFI”) by midnight of the fifth Business Day following the settlement date of the erroneous entry.

  • The MEMBER will then have the sole right and responsibility to initiate a Reversing Entry in accordance with the Rules.

  • A Reversing Entry processed the same day is subject to the Same Day Entry Fee.

  • In initiating a Reversing Entry, Customer warrants that it has initiated Reversing Entries or files within five (5) Business Days of the original Entry or Entries.

  • Company agrees that any payment by Bank to Company for any Debit Entry, returned Credit Entry or Credit Reversing Entry is provisional until Bank has received final settlement for such Entry.

Related to Reversing Entry

  • Entry means admission to a Department-funded developmental disability service.

  • Date of Entry means the date this Consent Decree is approved or signed by the United States District Court Judge.

  • Sale Motion means the motion or motions of Sellers filed with the Bankruptcy Court seeking approval and entry of the Sale Order.

  • Sale Order means an Order of the Bankruptcy Court approving this Agreement and the transactions contemplated hereby, which Order shall be in the form attached hereto as Exhibit A, with such changes as may be consented to by Buyer (which consent shall not be unreasonably withheld, conditioned or delayed) or as the Parties may mutually agree.

  • Approval Order means (i) an order in the form attached hereto as Exhibit 2; or (ii) in the event of a timely objection to the motion to approve the Agreement that if sustained would reduce the full Settlement Amount available to pay Asbestos-Released Claims, an order in such form agreed to in writing by the Parties, entered by the Bankruptcy Court that (a) approves this Agreement, (b) authorizes the Parties to undertake the settlement and the sale of the Subject Policies as set forth in this Agreement, and (c) provides for the Injunction.