Returned Entries. You shall promptly provide immediately available, fully collected funds to reimburse us for any debit Entry which is rejected or any adjustment Entry which is received by us after we have permitted you to withdraw funds in the amount thereof. You shall pay us interest on the amount of any such returned debit or adjustment Entry at the rate specified in the Account Disclosures between us and you with respect to overdrafts. We reserve the right to require you to deposit funds to be held by us in one of your ACH Accounts or in a separate Account held by and pledged to us for the purpose of paying for returned Entries or adjustment Entries, in the event that we determine, in our sole discretion, that such amount or Account is necessary due to a larger-than-usual number of returned Entries or adjustment Entries, or other adverse conditions with respect to you or Entries initiated by you. We shall have no obligation to re-transmit a returned Entry, and you agree not to reinstate Entries that have been returned except as permitted by the Rules.
Appears in 3 contracts
Sources: Treasury Services Agreement, Treasury Services Agreement, Treasury Services Agreement