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.
Sample 1Sample 2Sample 3
Reversing Entry means a Credit or Debit Entry that reverses an Erroneous Entry.
Sample 1

Examples of Reversing Entry in a sentence

  • 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 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 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.

  • You agree to promptly notify the Receiver of any Reversing Entry in accordance with the ACH Rules.(o)(iii) Returned ACH Entries - We will use reasonable efforts to notify you (in the manner we determine) of the receipt of a returned ACH Entry from an ACH Operator.

  • Similarly, under this amendment an ODFI may dishonor the Return of a debit Reversing Entry if the Return Entry results in an unintended credit to the Receiver because (1) the Return Entry relates to a debit Reversing Entry that was intended to correct a credit Erroneous Entry, and (2) the ODFI has not received a Return of that credit Erroneous Entry.

  • In initiating a Reversing Entry, Client warrants that it has initiated Reversing Entries or files within twenty-four (24) hours of discovery, no more than five (5) Business Days of the original Entry or Entries.

  • Client also warrants that the account holder of a Reversing Entry has been notified of the reversal, and the reason for the reversal, no later than the Settlement Date ofthe reversal.

  • Even if settlement had been appropriate, HCFA regulations require that theamount accepted in compromise be reasonable in relation to the amount that can be recovered by enforced collection proceedings.

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 in form and substance reasonably acceptable to the Buyer and the Indenture Trustee.

  • Approval Order means an order entered by the Bankruptcy Court, pursuant to Sections 363 and 365 of the Bankruptcy Code, authorizing and approving, among other things, (a) the sale of the Purchased Assets (b) the assumption of the Assumed Liabilities by Purchaser and (c) the assumption and assignment of the Purchased Contracts, in accordance with the terms and conditions of this Agreement, which will be in a form and substance reasonably acceptable to the Parties.

  • Final Order means an order or judgment of a court of competent jurisdiction that has been entered on the docket maintained by the clerk of such court, which has not been reversed, vacated or stayed and as to which (a) the time to appeal, petition for certiorari, or move for a new trial, reargument or rehearing has expired and as to which no appeal, petition for certiorari, or other proceedings for a new trial, reargument or rehearing shall then be pending, or (b) if an appeal, writ of certiorari, new trial, reargument or rehearing thereof has been sought, such order or judgment shall have been affirmed by the highest court to which such order was appealed, or certiorari shall have been denied, or a new trial, reargument or rehearing shall have been denied or resulted in no modification of such order, and the time to take any further appeal, petition for certiorari or move for a new trial, reargument or rehearing shall have expired; provided, however, that no order or judgment shall fail to be a “Final Order” solely because of the possibility that a motion pursuant to section 502(j) or 1144 of the Bankruptcy Code or under Rule 60 of the Federal Rules of Civil Procedure or Bankruptcy Rule 9024 has been or may be filed with respect to such order or judgment.

  • COVID-19 case means a person who:

  • Final Order Entry Date means the date on which the Final Order is entered by the Bankruptcy Court.

  • DIP Motion means a motion to be filed by the Debtors with the Bankruptcy Court seeking Bankruptcy Court approval of the DIP Facility, which motion shall be consistent in all material respects with this Agreement and otherwise in form and substance reasonably acceptable to the Requisite Parties.

  • Interim DIP Order means an interim order of the Bankruptcy Court approving the Loans, this Agreement and the other Loan Documents on an interim basis, which order shall be substantially in the form attached hereto as Annex C (or in form and substance acceptable to the Required DIP Lenders).

  • Bankruptcy Court has the meaning set forth in the Recitals.

  • Sale Hearing means the hearing conducted by the Bankruptcy Court to approve the transactions contemplated by this Agreement.

  • Bidding Procedures Order means that certain order of the Bankruptcy Court, entitled “Order (A) Approving Sale Procedures and Bid Protections, Including Break-Up Fee(s), In Connection With Sale Of Substantially All Assets; (B) Scheduling An Auction For And Hearing To Approve One Or More Sales; (C) Approving Notice Of Respective Date, Time And Place For Auction And For Hearing On Approval Of Sale(s),” entered on January 16, 2009.

  • Final Approval Order and Judgment means the order in which the Court certifies the Settlement Class, grants final approval of this Settlement Agreement, authorizes the entry of a final judgment, and dismisses the Action with prejudice.

  • Preliminary Approval Order means the order preliminarily approving the Settlement Agreement, certifying the Settlement Class for settlement purposes, and directing notice thereof to the Settlement Class, which will be agreed upon by the Parties and submitted to the Court in conjunction with Plaintiffs’ motion for preliminary approval of the Agreement.

  • Chapter 11 Case has the meaning set forth in the Recitals.

  • Docket means the docket in the Chapter 11 Cases maintained by the Clerk.

  • Private transcript means a transcript, including but not limited to a deposition transcript that is paid for by a private party.

  • Receipt of surrender of ownership documents means the receipt of surrender of

  • Final Order and Judgment means the final judgment and order of dismissal with prejudice to be entered in the Lawsuit in connection with the approval of the Settlement after the Final Approval Hearing.

  • Mass in running order means the mass of the vehicle, with its fuel tank(s) filled to at least 90 per cent of its or their capacity/capacities, including the mass of the driver, fuel and liquids, fitted with the standard equipment in accordance with the manufacturer's specifications and, when they are fitted, the mass of the bodywork, the cabin, the coupling and the spare wheel(s) as well as the tools.

  • Reorganized Debtors means the Debtors, as reorganized pursuant to and under the Plan, or any successor thereto, by merger, consolidation, or otherwise, on or after the Effective Date, including Reorganized HoldCo.

  • Postpartum recovery means (a) the entire period a woman or youth is in the hospital, birthing center, or clinic after giving birth and (b) an additional time period, if any, a treating physician determines is necessary for healing after the youth leaves the hospital, birthing center, or clinic;

  • Confirmation Order means the order of the Bankruptcy Court confirming the Plan pursuant to section 1129 of the Bankruptcy Code.

  • Final Approval Order means the entry of the order and final judgment approving the Settlement Agreement, implementing the terms of this Settlement Agreement, and dismissing the Class Action with prejudice, to be proposed by the Settling Parties for approval by the Court, in substantially the form attached as Exhibit D hereto.

  • Procuring Entity means the Entity named in the Special Conditions of Contract.