Common use of Entry Settlement Clause in Contracts

Entry Settlement. Sub-Merchant hereby authorizes and instructs WorkWave to make deposits, withdrawals and transfers to and from the Operating Account as appropriate or necessary in connection with eCheck Processing Transactions. Not later than 8:00 a.m. local time on each Settlement Date, Sub-Merchant will provide WorkWave or, if so directed by WorkWave, eCheck Processor or Financial Institution immediately available funds sufficient to pay all Entries initiated by Sub-Merchant. Notwithstanding any other provision of this Agreement, WorkWave reserves the right to require that sufficient collected funds be in the Operating Account prior to the time any Entry is processed by WorkWave.

Entry Settlement. Sub-Merchant hereby authorizes and instructs WorkWave to make deposits, withdrawals and transfers to and from the Operating Account as appropriate or necessary in connection with eCheck Processing Transactions. Not later than 8:00 a.m. local time on each Settlement Date, Sub-Merchant will provide WorkWave oror Financial Institution, if so directed by WorkWave, eCheck Processor or Financial Institution immediately available funds sufficient to pay all Entries initiated by Sub-Merchant. Notwithstanding any other provision of this Agreement, WorkWave reserves the right to require that sufficient collected funds be in the Operating Account prior to the time any Entry is processed by WorkWave.