Electronic Payment Authorization. Elastic gives you the option to receive your Cash Advances electronically and to repay amounts owed on your Elastic Account electronically. If you choose to receive your Cash Advances and repay electronically by selecting the relevant option on the “Schedule Advance” page, then the following provisions apply. In this Consent to Electronic Payment Authorization, you authorize Republic Bank & Trust Company and its successors, affiliates, agents, representatives, employees and assigns to initiate automated debit entries to your Bank Account for your regularly scheduled AutoPay payments equal to the Minimum Payment Amount and on the Payment Due Date disclosed on each Periodic Statement. For each payment, whenever an ACH debit entry to your Bank Account is returned to us for any reason, we may reinitiate an ACH debit entry to your Bank Account up to two additional times after our first presentation for each scheduled payment amount. If your payment is due on a non-business day, it will be processed on the next business day. This Electronic Payment Authorization applies to the repayment of all amounts owing on your Elastic Account, including amounts outstanding on or before the date on which you agreed to this Electronic Payment Authorization. If your Elastic Account is in default, you agree that we may initiate an ACH debit to your Bank Account for the entire amount you owe us (see Section XI. Default, above). This Electronic Payment Authorization is to remain in full force and effect for as long as your Bank Account is open. You may revoke this Electronic Payment Authorization by calling us at (▇▇▇) ▇▇▇-▇▇▇▇ or writing to us at Customer Support, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Cincinnati, OH 45209. If you revoke this Electronic Payment Authorization, you agree to make payments to us by another method acceptable to us as set forth in these Terms and Conditions. In no event shall any revocation of this Electronic Payment Authorization be effective with respect to payment entries processed by us prior to our receipt of a notice to withdraw such Electronic Payment Authorization. Your bank may impose a fee if your Bank Account becomes overdrawn or if a payment is attempted against your Bank Account that would cause it to become overdrawn. You will not hold us or our agents, representatives, successors or assigns responsible for any fees you must pay as a result of payment being presented at your bank in connection with this Electronic Payment Authorization. Contact your bank for more information specific to your Bank Account. You authorize us to verify and correct all information you have provided to us about your Bank Account, including, without limitation, past and/or current information about your bank, your bank routing and transit number and your Bank Account number. This Electronic Payment Authorization is subject to the following provisions: (1) Right to stop payment and procedure for doing so. If you have told us in advance to take payments out of your Bank Account, you can stop any of these payments by calling us at (▇▇▇) ▇▇▇-▇▇▇▇ or writing to us at Customer Service, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Cincinnati, OH 45209, in time for us to receive your request by 5:00 PM Eastern Time at least 3 Business Days before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after your call. (2) Liability for failure to stop payment of preauthorized transfer. If you tell us to stop an AutoPay by 5:00 PM Eastern Time at least 3 Business Days before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Appears in 1 contract
Sources: Elastic Credit Agreement
Electronic Payment Authorization. Elastic gives you the option to receive your Cash Advances electronically and to repay amounts owed on your Elastic Account electronically. If you choose to receive your Cash Advances and repay electronically by selecting the relevant option on the “Schedule Advance” page, then the following provisions apply. In this Consent to Electronic Payment Authorization, you authorize Republic Bank & Trust Company and its successors, affiliates, agents, representatives, employees and assigns to initiate automated debit entries to your Bank Account for your regularly scheduled AutoPay payments equal to the Minimum Payment Amount and on the Payment Due Date disclosed on each Periodic Statement. For each payment, whenever an ACH debit entry to your Bank Account is returned to us for any reason, we may reinitiate an ACH debit entry to your Bank Account up to two additional times after our first presentation for each scheduled payment amount. If your payment is due on a non-business day, it will be processed on the next business day. This Electronic Payment Authorization applies to the repayment of all amounts owing on your Elastic Account, including amounts outstanding on or before the date on which you agreed to this Electronic Payment Authorization. If your Elastic Account is in default, you agree that we may initiate an ACH debit to your Bank Account for the entire amount you owe us (see Section XI. Default, above). This Electronic Payment Authorization is to remain in full force and effect for as long as your Bank Account is open. You may revoke this Electronic Payment Authorization by calling us at (▇▇▇) ▇▇▇-▇▇▇▇ or writing to us at Customer Support, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Cincinnati, OH 45209. If you revoke this Electronic Payment Authorization, you agree to make payments to us by another method acceptable to us as set forth in these Terms and Conditions. In no event shall any revocation of this Electronic Payment Authorization be effective with respect to payment entries processed by us prior to our receipt of a notice to withdraw such Electronic Payment Authorization. Your bank may impose a fee if your Bank Account becomes overdrawn or if a payment is attempted against your Bank Account that would cause it to become overdrawn. You will not hold us or our agents, representatives, successors or assigns responsible for any fees you must pay as a result of payment being presented at your bank in connection with this Electronic Payment Authorization. Contact your bank for more information specific to your Bank Account. You authorize us to verify and correct all information you have provided to us about your Bank Account, including, without limitation, past and/or current information about your bank, your bank routing and transit number and your Bank Account number. This Electronic Payment Authorization is subject to the following provisions:
(1) Right to stop payment and procedure for doing so. If you have told us in advance to take payments out of your Bank Account, you can stop any of these payments by calling us at (▇▇▇) ▇▇▇-▇▇▇▇ or writing to us at Customer Service, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Cincinnati, OH 45209, in time for us to receive your request by 5:00 PM Eastern Time at least 3 Business Days before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after your call.
(2) Liability for failure to stop payment of preauthorized transfer. If you tell us to stop an AutoPay by 5:00 PM Eastern Time at least 3 Business Days before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Appears in 1 contract
Sources: Elastic Credit Agreement