Common use of Delivery of Your Payments Clause in Contracts

Delivery of Your Payments. Using the Xxxx Payment Services, you may "schedule" a payment for a particular date. The funds for the payment will be deducted from your Account upon the date of scheduling of the payment to Payee; this date may be different than the date a payment is scheduled to be sent or actually sent to the Payee. If your Account has insufficient funds or is no longer an active account in good standing with Bank, then your payment may be delayed or cancelled and you will be responsible for any fees or expenses resulting from such delay or cancellation. Transmission of the payment occurs when your payment is sent to the Payee for delivery; the date the payment is actually sent to the Payee for delivery is the "Transmit Date." The date the Payee actually receives payment may be later than the Transmit Date, and will depend on whether the payment is made electronically or by check, as discussed below.