AUTHORIZATION FOR ACH AND RIGHT OF SETOFF Sample Clauses

AUTHORIZATION FOR ACH AND RIGHT OF SETOFF. Merchant hereby authorizes Xxxxxx and Moneris to initiate debit and credit entries to Merchant’s depository account number set forth on the Merchant Bankcard Application and which may also be shown on the voided check provided to Xxxxxx and Moneris therewith (and as that number may be changed, to any new account provided to Xxxxxx and Moneris). Under normal circumstances, and unless deemed necessary by Xxxxxx or Moneris, Xxxxxx will ACH credit or debit Merchant’s depository account the next business day after receipt of funds by Xxxxxx. To the extent permitted by applicable law, Moneris and Xxxxxx reserve a right of setoff in all of Merchant’s accounts with Moneris, Xxxxxx, or their affiliates (whether checking, savings, reserve, or some other account). Merchant acknowledges that all transaction settlements are provisional subject to: (i) the Cardholder’s rights under the rules and regulations of Visa and/or MasterCard; (ii) applicable Federal, State and local law relating to disputing Bankcard transactions; and (iii) Xxxxxx’x and Moneris’s rights under this Agreement. This authority shall remain in full force and effect until Xxxxxx and Moneris have received written notification from Merchant of its revocation in such time and manner as to afford Xxxxxx and Moneris a reasonable opportunity to act upon it.
Sample 1
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AUTHORIZATION FOR ACH AND RIGHT OF SETOFF. Xxxxxxxx hereby authorizes Xxxxxx and Xxxxxxx to initiate debit and credit entries to Xxxxxxxx’s depository account number set forth on the Merchant Bankcard Application and which may also be shown on the voided check provided to Xxxxxx and Moneris therewith (and as that number may be changed, to any new account provided to Xxxxxx and Xxxxxxx). Under normal circumstances, and unless deemed necessary by Xxxxxx or Xxxxxxx, Xxxxxx will ACH credit or xxxxx Xxxxxxxx’s depository account the next business day after receipt of funds by Xxxxxx. To the extent permitted by applicable law, Xxxxxxx and Xxxxxx reserve a right of setoff in all of Merchant’s accounts with Xxxxxxx, Xxxxxx, or their affiliates (whether checking, savings, reserve, or some other account). Merchant acknowledges that all transaction settlements are provisional subject to: (i) the Cardholder’s rights under the rules and regulations of Visa and/or MasterCard; (ii) applicable Federal, State and local law relating to disputing Bankcard transactions; and (iii) Xxxxxx’x and Xxxxxxx’s rights under this Agreement. This authority shall remain in full force and effect until Xxxxxx and Xxxxxxx have received written notification from Merchant of its revocation in such time and manner as to afford Xxxxxx and Xxxxxxx a reasonable opportunity to act upon it.
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Related to AUTHORIZATION FOR ACH AND RIGHT OF SETOFF

  • Right of Set-Off Upon (i) the occurrence and during the continuance of any Event of Default and (ii) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the Note held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Lender and its Affiliates may have.

  • Right of Setoff If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.

  • Interest and Right of Set Off Any sum which becomes payable under any of the provisions of this Agreement by one Party to the other Party shall, if the same be not paid within the time allowed for payment thereof, shall be deemed to be a debt owed by the Party responsible for payment thereof to the Party entitled to receive the same. Such sum shall until payment thereof carry simple interest at SBI PLR plus 5% per annum from the due date for payment thereof until the same is paid to or otherwise realised by the Party entitled to the same. Without prejudice to any other right or remedy that may be available under this Agreement or otherwise under law, the Party entitled to receive such amount shall also have the right of set off. Provided the stipulation regarding interest for delayed payments contained in Clause 14.2 shall neither be deemed nor construed to authorise any delay in payment of any amount due by a Party nor be deemed or construed to be a waiver of the underlying breach of payment obligations.

  • Appropriation of Payment Right of Set Off 15.1 Right of appropriation We are entitled in our absolute discretion to apply and appropriate all payments received by us in such manner or order of priority as we may deem fit, notwithstanding any specific appropriation of such sums by the business member or any person making such payment. Without prejudice to the generality of the foregoing, we may apply payments received by us in the following order of priority:-

  • Authorization of Services a. The Contractor and its subcontractors shall have in place, and follow, written authorization policies and procedures.

  • Right of Revocation Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

  • Right of appropriation (a) We shall be entitled in our reasonable discretion to apply and appropriate all payments received by us in such a manner or order of priority as we may deem fit, notwithstanding any specific appropriation of such sums by you or any person making such payment. Without prejudice to the generality of the foregoing, we may apply payments received by us in the following order of priority:

  • Inspection Testing Authorization and Right of Access 2.1 Equipment Testing and Inspection 2.2 Authorization Required Prior to Parallel Operation

  • Right of Offset You hereby agree that the Company shall have the right to offset against its obligation to deliver shares of Class A Common Stock, cash or other property under this Agreement to the extent that it does not constitute “non-qualified deferred compensation” pursuant to Section 409A, any outstanding amounts of whatever nature that you then owe to the Company or any of its Subsidiaries.

  • Right of Access 2.3.1 Upon reasonable notice, the NYISO and/or Connecting Transmission Owner may send a qualified person to the premises of the Interconnection Customer at or immediately before the time the Small Generating Facility first produces energy to inspect the interconnection, and observe the commissioning of the Small Generating Facility (including any required testing), startup, and operation for a period of up to three Business Days after initial start-up of the unit. In addition, the Interconnection Customer shall notify the NYISO and Connecting Transmission Owner at least five Business Days prior to conducting any on-site verification testing of the Small Generating Facility.

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