Common use of Receiver Authorizations for Credit Entries Clause in Contracts

Receiver Authorizations for Credit Entries. Each person shown as the Receiver on a credit Entry received by Bank from the Client has, by an authorization agreement in accordance with the NACHA Rules, authorized the initiation of such Entry and the crediting of the Receiver's account in the amount and on the Effective Entry Date shown on such Entry, and has authorized the initiation, if necessary, of debit Entries and adjustments for any credit Entries made in error to the Receiver's account;

Receiver Authorizations for Credit Entries. Each person shown as the Receiver on a credit Entry received by Bank from the Client Customer has, by an authorization agreement in accordance with the NACHA Rules, authorized the initiation of such Entry and the crediting of the Receiver's ’s account in the amount and on the Effective Entry Date shown on such Entry, and has authorized the initiation, if necessary, of debit Entries and adjustments for any credit Entries made in error to the Receiver's ’s account;