Common use of Recurring TEL Entries Are Prohibited Without Separate Bank Permission Clause in Contracts

Recurring TEL Entries Are Prohibited Without Separate Bank Permission. You must not initiate “recurring” (also called “preauthorized”) TEL entries unless we have specifically granted you permission in writing to do so. We may give you that permission in a separate signed writing, but in either case your initiation of recurring TEL entries shall be subject to the “Additional Terms for Recurring TEL Entries” set forth below. The prohibition on initiating recurring TEL entries is applicable both to ACH files that youor your agents may submit to us, and to files or entries that you submit directly to us via any online platform (e.g., our treasury internet banking platform). In no event shall your physical or technical ability to submit recurring TEL entries constitute implied permission to do so.

Recurring TEL Entries Are Prohibited Without Separate Bank Permission. You must not initiate “recurring” (also called “preauthorized”) TEL entries unless we have specifically granted you permission in writing to do so. We may give you that permission in a separate signed writing, but in either case your initiation of recurring TEL entries shall be subject to the “Additional Terms for Recurring TEL Entries” set forth below. The prohibition on initiating recurring TEL entries is applicable both to ACH files that youor you or your agents may submit to us, and to files or entries that you submit directly to us via any online platform (e.g., our treasury internet banking platform). In no event shall your physical or technical ability to submit recurring TEL entries constitute implied permission to do so.