Common use of Recurring Transfers Clause in Contracts

Recurring Transfers. You may schedule transfers that do not vary in amount to initiate automatically on a regular schedule of your choice. If you schedule a transfer for a day near the end of the month, and that day does not exist in a particular month, then the transfer will be initiated on the immediately preceding Business Day for that month. If the scheduled recurring transfer falls on a day which is not a Business Day in a particular month, the transaction will be initiated on the previous Business Day. For example, if you schedule a recurring transfer for the fifth (5th) of each month and the 5th of September falls on a Saturday, then your transaction will be initiated on the previous Business Day, Friday, the 4th of September. You may skip a recurring transfer or change the amount of the transaction or cancel the recurring transaction altogether provided this is done by 9:00 PM EST of the scheduled transaction date.

Recurring Transfers. You may schedule transfers that do not vary in amount to initiate automatically on a regular schedule of your choice. If you schedule a transfer for choose a day near the end of the month, and month for a recurring transfer that day does not exist in a particular month, then the transfer will be initiated on the day immediately preceding following Business Day for that monthDay. If the scheduled recurring transfer falls on a day which that is not a Business Day in a particular month, the transaction will be initiated on the previous following Business Day. For example, if you schedule a recurring transfer for the fifth (5th) 10th of each month and the 5th 10th of September falls on a Saturday, then your transaction will be initiated on the previous following Business Day, FridayMonday, the 4th 12th of September. You may skip a recurring transfer or change the amount of the transaction or cancel the recurring transaction altogether provided this is done by 9:00 PM EST of the scheduled transaction date.