Examples of Settlement Account in a sentence
Xxxxxxxx authorizes Bank to initiate debit and/or credit entries to the Settlement Account, the Reserve Account, or any other account maintained by Merchant at any institution, all in accordance with this Agreement.
Merchant authorizes Bank to debit via ACH the Settlement Account, Reserve Account, or any other account Merchant has at Bank or at any other affiliate or subsidiary of Bank or other financial institution for any amount Merchant owes Bank under this Agreement or under any other contract, note, guaranty, instrument or dealing of any kind now existing or later entered into between Merchant and Bank, whether Merchant obligation is direct, indirect, primary, secondary, fixed, contingent, joint or several.
Funds will be transferred to Merchant’s Settlement Account using ACH.
If Merchant terminates this Agreement, Bank shall have thirty (30) days from date of receipt of the notice to close Merchant’s Settlement Account.
In the event Merchant changes the Settlement Account, this authorization will apply to the new account.