Settlement and Exposure Limits Sample Clauses

Settlement and Exposure Limits. On the settlement date, Bank will credit Customer’s account with Bank that Customer specifies for the total of: • Customer’s Debit Entries that Bank processed for settlement that day; • Drafts issued for deposit to Customer’s account on that day; and • any returned or reversed Credit Entries. Bank may delay the availability of funds deposited into Customer’s account by Debit Entry or draft until those transactions cannot be reversed in accordance with the Rules or applicable law. Bank will debit Customer’s account with Bank that Customer specifies for the total of Credit Entries processed in Customer’s name and for any returned Debit Entries and Drafts. Bank may require Customer to pay Bank the amount of any Credit Entries on the date of transmission to Bank or otherwise prior to the settlement date. Bank also may require Customer to maintain collateral with Bank in an amount Bank specifies. Bank may from time to time establish or revise maximum dollar limits for the total value of all outstanding files of Credit Entries and/or Debit Entries and drafts that Bank will release on Customer’s behalf. Bank may change or cancel the limits at any time without prior notice to Customer; although Bank will try to notify Customer before Bank does that.
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Related to Settlement and Exposure Limits

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