Common use of Cancellation of Payment Orders Clause in Contracts

Cancellation of Payment Orders. A payment order may be cancelled by the Member, provided the cancellation instruction is received by the Credit Union at a time and in a manner affording the Credit Union a reasonable opportunity to act prior to the Credit Union's acceptance of the payment order.

Cancellation of Payment Orders. A payment order may be cancelled canceled by the Member, provided the cancellation instruction is received by the Credit Union Bank at a time and in a manner affording the Credit Union Bank a reasonable opportunity opportunity, as determined by the Bank in its sole discretion, to act prior to the Credit Union's acceptance Bank’s execution of the payment order.