Common use of Holds Clause in Contracts

Holds. When an Authorized User uses the Card to make purchases or get a cash advance, we will be notified of the amounts of such purchases and cash advances. Upon receipt of such notices, you authorize us to debit the Account for the amounts required to pay the obligations resulting from the use of the Card. A hold will be placed on the Account. The hold may be for the amount of the transaction, or for the pre-established amount in excess of individual transactions (for example, hotel or car reservations). If the transaction posts to the Account before the hold expires, the available balance in the Account may be reduced by the amount of the hold and the amount of the transaction. The hold may continue even if an Authorized User does not purchase any goods or services for which authorization was obtained, the hold will be released within three (3) business days. We reserve the right to return any check or other item drawn against the Account to ensure available funds to pay your VISA Business Check Card transactions. If checks are returned, you agree to pay all applicable non-sufficient funds fees. We may, but are not obligated, to allow transactions which exceed your available balance or credit line. If we do, you agree to pay the overdraft. You also agree to pay the non-sufficient funds fee in effect for each transaction which causes your available Account balance or available line of credit to be exceeded.

Holds. When an Authorized User uses the Card to make purchases or get a cash advance, we will be notified of the amounts of such purchases and cash advances. Upon receipt of such notices, you authorize us to debit the Account for the amounts required to pay the obligations resulting from the use of the Card. A hold will be placed on the Account. The hold may be for the amount of the transaction, or for the pre-established amount in excess of individual transactions (for example, hotel or car reservations). If the transaction posts to the Account before the hold expires, the available balance in the Account may be reduced by the amount of the hold and the amount of the transaction. The hold may continue even if an Authorized User does not purchase any goods or services for which authorization was obtained, the . The hold will be released within three (3) business days. We reserve the right to return any check or other item drawn against the Account to ensure available funds to pay your VISA Business Check Card transactions. If checks are returned, you agree to pay all applicable non-sufficient funds fees. We may, but are not obligated, to allow transactions which exceed your available balance or credit line. If we do, you agree to pay the overdraft. You also agree to pay the non-sufficient funds fee in effect for each transaction which causes your available Account balance or available line of credit to be exceeded.