Client Receiving Account definition

Client Receiving Account means a Preauthorized Payment Deposit Account or Direct Deposit Account with one or more United States banks or other appropriate United States financial organizations for receipt and settlement of ACH entries to Client’s account. Client using ICL authorizes Client’s checks to be deposited into a PTC account prior to settlement.
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Examples of Client Receiving Account in a sentence

  • Client will advise PTC in writing at least thirty (30) days in advance before switching its Client Receiving Account to another bank.

  • Client will immediately make any additional deposits to its Client Receiving Account needed to maintain the Required Balance.

  • At all times during the term hereof, Client will be required to maintain a minimum balance in its Client Receiving Account at or above the Reserve Percentage of Client’s Daily Transaction Limit set by PTC (the “Required Daily Balance”) in the Account Requirements Document.

  • Within the period specified in the Account Requirements Document of the value date of any debit entries to Client’s Client Receiving Account, PTC will originate a credit entry to Client’s customers’ accounts.

  • If the balance in Client’s Client Receiving Account is insufficient to cover the amount billed in the invoice, PTC may invoice Client, and Client will promptly pay to PTC the amount shown on such invoice upon receipt of the invoice.

  • Within the period specified in the Account Requirements Document of the value date of any debit entries to Client’s customers’ accounts, PTC will originate a credit entry to Client’s Client Receiving Account.

  • Therefore, Client hereby authorizes PTC to debit Client’s Client Receiving Account for all fees due to PTC for the Services provided under the Agreement, including without limitation the ACH Service, in the amount indicated in the applicable invoice.

  • During the term of the Agreement, Client will maintain a Client Receiving Account for receipt and settlement of ACH entries to Client’s account, as applicable.

  • Prior to being permitted to use the ACH Service, Client must complete and return to PTC the Automated Clearinghouse Debit Authorization Form authorizing PTC to debit Client’s Client Receiving Account in order to collect fees due under the Agreement and these terms and conditions.

  • If the balance in Client's Client Receiving Account is insufficient to cover the amount billed in the invoice, PTC may invoice Client, and Client will promptly pay to PTC the amount shown on such invoice upon receipt of the invoice.