Common use of Electronic debits Clause in Contracts

Electronic debits. Provisions may be made for holding accounts to be maintained for posting of any returned debit Requests received, as stated elsewhere within this Agreement and the Rules. Client will promptly provide immediately available funds to reimburse Bank if any such Requests are rejected after Bank has permitted Client to withdraw immediately available funds, should funds not be available in the Client’s Account or the Reserve Account to cover the amount of the rejected or returned Requests.

Electronic debits. Provisions may be made for holding accounts to be maintained for posting of any returned debit Requests received, as stated elsewhere within this Agreement and the Rules. Client will promptly provide immediately available funds to reimburse Bank if any such Requests are rejected after Bank has permitted Client to withdraw immediately available funds, should funds not be available in the Client’s Account or the Reserve Account to cover the amount of the rejected or returned Requests.’s