Settlement and Finality Sample Clauses

Settlement and Finality. After the hold period for Debit Entries has expired, we will credit the Merchant DDA by the amount of the Debit Entries but this credit will not be final until we have available Transaction funds. If any Debit Entry is returned to us (as described in the Rules), we will debit the Merchant DDA for the amount of the returned item plus fees and costs incurred by BluePay. In the event there are not sufficient funds in the Merchant DDA to cover your obligations under this Agreement, you agree to pay us the amount of the deficiency on demand in immediately available funds. BluePay may debit any account maintained by you, such as for example the Merchant DDA, without further notice to or approval from you. Any Credit Entries that you create will be debited from the Merchant DDA in accordance with the hold period prior to the credit being distributed to your payees’ accounts. In the event that the Debit Entry is returned for any reason, the Credit Entries will be cancelled due to the unavailability of funds. BluePay will be responsible for our performance of the ACH Processing Services as a third party service provider in accordance with the terms of this Agreement, and the Rules and Regulations. We are not, however, responsible for errors, acts or failures to act of others, including, and among other entities, banks, ODFI, Merchant ODFI, communications carriers or clearing houses through which Entries may be originated or we receive or transmit information, and no such entity shall be deemed our agent. BluePay is not responsible for any loss, delay, cost or liability which arises, directly or indirectly, in whole or in part, from: your actions or omissions, your negligence or breach of any warranty or agreement ; any ambiguity, inaccuracy or omission in any instruction or information provided to BluePay; accidents, strikes, labor disputes, civil unrest, war, terrorism, fire, earthquake, flood, water damage (e.g., from fire suppression systems), tele-­‐communications or communication network disruption, power surges or failures, legal constraints or acts of God or government; or the actions of others or causes that are beyond BluePay’s reasonable control. BluePay will not be responsible under any circumstances for special, indirect, punitive or consequential damages which you incur as a result of BluePay’s actions or omissions, even if BluePay is aware of the possibility for such damages. BluePay’s liability and your remedy for actual costs and losses resulting fr...

Settlement and Finality. (a) Processor will settle all Entries after the pre-established hold period normally five (5) business days from the date the Entries are initially transmitted to the ACH and Processor’s ODFI or on a schedule agreed to in writing and made as part of this agreement or at Processor’s discretion. (b) Returned Entries beyond Settlement: Entries not honored by ▇▇▇▇▇▇▇▇’s customer’s bank will be debited from ▇▇▇▇▇▇▇▇’s settlement account. In the event there are not sufficient funds in the Settlement Account to cover Merchants obligations under this Agreement, ▇▇▇▇▇▇▇▇ agrees to pay Processor the amount of the deficiency on demand in immediately available funds. Processor may, as a last resort, hold or net settle any then current transactions and/or debit any account maintained by Merchant to recover returned transactions. Any Credit Entries that Merchant creates will be debited from Merchants account in accordance with the hold period prior to the credit being distributed to Merchant payee’s accounts. In the event the Debit Entry is returned for any reason, the Credit Entries will be canceled due to the unavailability of funds.

Settlement and Finality. We will settle all entries as follows: (a) P.O.S. Settlement: Entries received prior to our cut off time of 4:00 PM EST on any banking day (as defined by the Federal Reserve) will be credited to your settlement bank the following banking day, or after the hold period, at our discretion.

Settlement and Finality. IPPAY will settle all entries as follows: (a) P.O.S. Settlement: Entries received prior to IPPAY’s cut off time of 3:30 PM EST on any banking day (as defined by the Federal Reserve) will be credited to ▇▇▇▇▇▇▇▇’s settlement bank the following banking day, or after the hold period, at IPpay’s discretion. (b) Settlement of Returned Entries: Entries not honored by ▇▇▇▇▇▇▇▇’s customer’s bank will be debited from ▇▇▇▇▇▇▇▇’s settlement account. After the entries have been successfully recovered by the re-presentment process, if service is being provided by IPPAY, IPPAY will reaccredit Merchant’s account. (c) If any Debit Entry is returned to IPPAY, IPPAY will debit the Account for the amount of the returned item plus fees and costs incurred by IPPAY immediately or on a mutually agreed schedule. In the event there are not sufficient funds in the Account to cover Merchant’s obligations under this Agreement, ▇▇▇▇▇▇▇▇ agrees to pay IPPAY the amount of the deficiency on demand in immediately available funds. IPPAY may, as a last resort, debit any account maintained by Merchant to recover returned transactions. Any Credit Entries that Merchant creates will be debited from Merchant account in accordance with the hold period prior to the credit being distributed to Merchant payees accounts. In the event the Debit Entry is returned for any reason, the Credit Entries will be canceled due to the unavailability of funds.

Settlement and Finality. (a) If SPS originates the files, SPS will settle all entries after the pre-established hold period to C/N’s designated depository account, normally up to five (5) business days after the date the transactions are initially transmitted to the F/I or on a schedule agreed to in writing and made a part of this agreement or at SPS’ or F/I’s discretion. (b) Returned Entries Beyond Settlement: C/N agrees to honor ALL return entries and permit debiting from C/N’s settlement account. In the event there are not sufficient funds in C/N’s account to cover C/N’s obligations under this Agreement, C/N agrees to pay SPS the amount of the deficiency on demand in immediately available funds. SPS may, as a last resort, hold or net settle transactions and or debit any account maintained by C/N to recover returned transactions. In all cases, a charge back that fails to clear C/N’s account shall have a fee of $250 debited against C/N’s account.

Settlement and Finality. At the close of each Business Banking Day, ACHD will calculate Merchant’s Settlement Amount, including all applicable debits, credits, fees and adjustments. In the event the sum total of the Settlement Amount is a non-zero value, ACHD will initiate a Settlement Entry to Merchant’s Settlement Account. Positive totals will result in a Credit Entry to Merchant’s Settlement Account; negative totals will result in a Debit Entry to Merchant’s Settlement Account. In the event that a Debit Entry to Merchant’s Settlement Account is returned for any reason, all Credit Entries initiated by Merchant may be cancelled or reversed at ▇▇▇▇’s discretion.