Auto Pay means an arrangement whereby Customer authorizes TradeRev to automatically debit Customer’s bank account (or pre‐approved floor plan financing account) for funds owed if payment is not received by 8:00 PM Eastern time the day after the Vehicle is marked “Arrived” in the TradeRev System.
Auto Pay means the addition of money to an account using a cus- tomer's predesignated payment method.
Auto Pay means a payment option pursuant to which a Borrower has authorized Servicer to automatically withdraw funds from his or her designated bank account on his or her applicable payment due date each month.
Examples of Auto Pay in a sentence
For Customers signed up for Auto Pay, funds owing will be automatically debited using the default payment method selected by the Customer if payment is not received by the Payment Due Date For Customers not signed up for Auto Pay, TradeRev will deduct the amounts via EFT.
More Definitions of Auto Pay
Auto Pay means an automatic debit instruction to make payment for the Utility /Services used/ Availed by the Customer for the entire amount or the amount specified by the Customer.
Auto Pay means an arrangement whereby Customer authorizes TradeRev to automatically debit Customer’s bank account (or pre-approved floor plan financing account) for funds owed if payment is not received by 4:00 PM Eastern time the day after the Vehicle is marked “Arrived” in the TradeRev System.
Auto Pay means the automatic debit of your payment instrument registered with Us, for repayment of your dues for the Facility availed by You, upon expiry of Your Repayment Schedule, or as communicated to You from time to time, subject to these Terms. You may choose to disable Auto Pay option on the Application, subject to these Terms.
Auto Pay means a payment option pursuant to which a Borrower has authorized Servicer to automatically withdraw funds from his or her designated bank account on his or her applicable payment due date each month. “Billing Period” means the period of time in which a Borrower can satisfy a particular scheduled payment, which begins on the day following the end of any previous billing period and ends on the due date for such payment. “Credit Reporting Agencies” means Equifax, Experian and TransUnion. “Electronic Message” means one or more of the following forms of communication: a message to the applicable Borrower’s Prosper account, an email to the address designated by such Borrower, text message to a phone number or other electronic form of message to such Borrower as permitted by Applicable Laws. Pre-Delinquency Communications • Servicer will send the applicable Borrower an Electronic Message for each payment prior to the payment due date. • For Loans that are past due, but not yet Delinquent Loans, Servicer will send the applicable Borrower an Electronic Message to remind such Borrower about such past due payment and provide the applicable Borrower information regarding such past due payment through a secure web site. Delinquency Communications • If a Borrower had selected Auto Pay and an automatic ACH payment fails, Servicer will send an Electronic Message informing such Borrower that the loan account is delinquent and a payment is past due. • If a Borrower had not selected Auto Pay and the loan account becomes past due, Servicer will send an Electronic Message informing such Borrower that the loan account is delinquent and a payment is past due. • Each Borrower will receive Electronic Messages for each Billing Period the loan account is past due until the loan account is charged off. • A Collection Agent will attempt to collect the amount past due on any eligible loan account for each Billing Period until such loan account is charged off.