No Minimum Balance Requirements. Client shall not be required to maintain a minimum balance in payment account(s) maintained by Membersy on Client’s behalf; however, in the event that a payment account exhibits a negative balance, Membersy will initiate a withdrawal back from Client’s connected bank account in the amount of such negative balance, and Client hereby authorizes Membersy to initiate such withdrawal.
Appears in 2 contracts
Sources: Plan Administration Agreement, Enterprise Plan Administration Agreement