Common use of PROVISIONAL SETTLEMENT Clause in Contracts

PROVISIONAL SETTLEMENT. Member Client shall be bound by and comply with the Rules as in effect from time to time, including without limitation the provision thereof making payment of an Entry by the RDFI to the Receiver provisional until receipt by the RDFI of final settlement for such Entry; and Member Client acknowledges that it has received notice of that Rule and or the fact that, if such settlement is not received, the RDFI shall be entitled to a refund from the Receiver of the amount credited and Member Client shall not be deemed to have paid the Receiver the amount of the Entry.

Appears in 5 contracts

Sources: Ach Origination Agreement, Ach Origination Agreement, Ach Origination Agreement

PROVISIONAL SETTLEMENT. Member Client Customer shall be bound by and comply with the Rules as in effect from time to time, including including, without limitation limitation, the provision thereof making payment of an Entry by the RDFI to the Receiver provisional until receipt by the RDFI of final settlement for such Entry; and Member Client . Customer acknowledges that it has received notice of that Rule and or and/or the fact that, that if such settlement is not received, the RDFI shall be entitled to a refund from the Receiver of the amount credited and Member Client Customer shall not be deemed to have paid the Receiver the amount of the Entry.

Appears in 2 contracts

Sources: Commercial Banking Account Agreement and Treasury Management Services Terms and Conditions, Commercial Banking Account Agreement and Treasury Management Services Terms and Conditions

PROVISIONAL SETTLEMENT. Member Client shall be bound by and comply with the Rules as in effect from time to time, including without limitation the provision thereof making payment of an Entry by the RDFI to the Receiver provisional until receipt by the RDFI of final settlement for such Entry; and Member Client acknowledges that it has received notice of that Rule and or the fact that, if such settlement is not received, the RDFI shall be entitled to a refund from the Receiver of the amount credited and Member Client shall not be deemed to have paid the Receiver the amount of the Entry.

Appears in 1 contract

Sources: Master Cash Management Agreement