Common use of Provisional Payments Clause in Contracts

Provisional Payments. Your statement will serve as notice of any ACH credits or debits to your Account, and you agree that we are not required to provide any other notice to you. Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for the transaction. If we do not receive final settlement, you agree that we are entitled to debit from your Account the amount credited to you in connection with the transaction, and the party making payment to you (the originator of the entry) shall not be deemed to have paid you in that amount. SECTION 5: OVERDRAFTS, TRANSACTION PROCESSING ORDER, AND WHEN FEES ARE CHARGED

Provisional Payments. Your statement will serve as notice of any ACH credits or debits to your Account, and you agree that we are not required to provide any other notice to you. Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for the transaction. If we do not receive final settlement, you agree that we are entitled to debit from your Account the amount credited to you in connection with the transaction, and the party making payment to you (the originator of the entry) shall not be deemed to have paid you in that amount. SECTION 5: OVERDRAFTS, TRANSACTION PROCESSING ORDER, AND WHEN FEES ARE CHARGED.