Common use of Credit Entries Clause in Contracts

Credit Entries. Bank will debit Customer's Settlement Account at any time on the Settlement Date as Bank, in its sole discretion, may determine for the amount of each credit Entry executed by Bank, and in accordance with the NACHA Rules. Bank will promptly re-credit the Settlement Account with the amount of any credit Entry (which was a debit to the Settlement Account), which is rejected by Bank, and any other credit Entry, which is returned by a Receiving Bank, provided that Bank has obtained payment for the Returned Entry from the Receiving Bank.

Credit Entries. Bank will debit Customer's ’s Settlement Account at any time on the Settlement Date as Bank, in its sole discretion, may determine for the amount of each credit Credit Entry executed by Bank, and in accordance with the NACHA Rules. Bank will promptly re-credit the Settlement Account with the amount of any credit Credit Entry (which was a debit to the Settlement Account), which is rejected by Bank, and any other credit Credit Entry, which is returned by a Receiving Bank, provided that Bank has obtained payment for the Returned Entry from the Receiving Bank.