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 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.

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

  • 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 Transmitted to the ACH Operator in such time as to be Transmitted or made available to the RDFI within five Banking Days following the Settlement Date of the Erroneous Entry.

  • The Originator must make a reasonable attempt to notify the Receiver of the Reversing Entry and the reason for the Reversing Entry no later than the Settlement Date of the Reversing Entry.

  • Your company should not rely on the Reversal process to recover funds, as the RDFIs are under no obligation to post the reversing debits if they overdraw the Receiver’s account or if the account is closed.When you request that American Riviera Bank reverse an Entry, the Nacha Rules require that you notify the Receiver of the Reversing Entry and the reason.3 This notice must be provided no later than the Settlement Date of the Reversal.

  • 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.

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 or orders of the Bankruptcy Court in form and substance reasonably acceptable to Buyer and Seller approving this Agreement and all of the terms and conditions hereof, and approving and authorizing Seller to consummate the Transactions.

  • 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, as applicable, an order or judgment of the Bankruptcy Court or other court of competent jurisdiction with respect to the relevant subject matter that has not been reversed, stayed, modified, or amended, and as to which the time to appeal or seek certiorari has expired and no appeal or petition for certiorari has been timely taken, or as to which any appeal that has been taken or any petition for certiorari that has been or may be filed has been resolved by the highest court to which the order or judgment could be appealed or from which certiorari could be sought or the new trial, reargument, or rehearing shall have been denied, resulted in no modification of such order, or has otherwise been dismissed with prejudice.

  • 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 DIP Motion, which order shall be consistent in all material respects with this Agreement and otherwise in form and substance acceptable to the Requisite Parties.

  • 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.

  • TMDL means the total maximum daily load limitation of a parameter, representing the estimated assimilative capacity for a water body before other designated uses are adversely affected. Mathematically, it is the sum of wasteload allocations for point sources, load allocations for non-point and natural background sources, and a margin of safety.

  • 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 proposed Order Granting Preliminary Approval of Class Action Settlement, Approving Form and Manner of Notice, and Setting Date for Hearing on Final Approval of Settlement, which, subject to the approval of the Court, shall be substantially in the form attached hereto as Exhibit A.

  • Settlement Class Members means a member of a Settlement Class.

  • 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.

  • 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 on and after the Effective Date.

  • Settlement Class Member means a member of a Settlement Class.

  • 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 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 5 hereto.