Common use of Cutoff Time Clause in Contracts

Cutoff Time. Transfer Instructions entered before 11:00 PM Mountain Time (for Standard Transfers) and 5:00 PM Mountain Time (for Express Pay Transfers) on a Business Day will begin processing on that Business Day and Transfer Instructions that are entered after these cutoff times will begin processing on the next Business Day. Whether a transfer designated as an Express Pay Transfer occurs as an Express Pay Transfer is also dependent upon the receiving bank’s processes.

Cutoff Time. Transfer Payment Instructions entered before 11:00 PM Mountain Time (for Standard Transfers) and 5:00 PM Mountain Time (for Express Pay Transfers) on a Business Day will begin processing on that Business Day and Transfer Payment Instructions that are entered after these cutoff times will begin processing on the next Business Day. Whether a transfer designated as an Express Pay Transfer occurs as an a Express Pay Transfer is also dependent upon the receiving bank’s processesprocesses and the timely acceptance by the Receiver.