Common use of Debit Entries Clause in Contracts

Debit Entries. Bank will credit the Settlement Account with immediately available funds for the amount of any preauthorized debit Entry executed by Bank at any time on the Settlement Date as Bank, in its sole discretion, may determine for those Entries, and in accordance with the NACHA Rules. Customer agrees that Bank may immediately charge to the Settlement Account the amount of each preauthorized debit that is returned unpaid by any Receiving Bank according to the NACHA Rules.

Debit Entries. Bank will credit the Settlement Account with immediately available funds for the amount of any preauthorized debit Debit Entry executed by Bank at any time on the Settlement Date as Bank, in its sole discretion, may determine for those Entries, and in accordance with the NACHA Rules. Customer agrees that Bank may immediately charge to the Settlement Account the amount of each preauthorized debit that is returned unpaid by any Receiving Bank according to the NACHA Rules.