Common use of Recurring Payments Clause in Contracts

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 2 contracts

Samples: www.umecreditunion.com, www.umecreditunion.com

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Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-non- business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 2 contracts

Samples: Mobile Banking Agreement and Disclosure, Mobile Banking Agreement and Disclosure

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the systemBill Payment Services. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays)Business Day, it is adjusted based upon the following rules: ; If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date data for the new occurrence of the payment is adjusted to the first business date Business Day after the calculated processing date. Note: If your frequency settings for the recurring payment specify payment’s date specifies the 29th, 30th, or 31st as a particular day of the month for as the processing date, and that day does not exist in the month of the calculated processing dateexist, then the last calendar day of that the month is used as to calculate the calculated processing date.

Appears in 2 contracts

Samples: Banking Authorization Agreement, Banking Authorization Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays)day, it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business day date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date day after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Union Online Banking Service Terms

Recurring Payments. A recurring payment is a payment that you designate be made for the same dollar amount for a specified period based on a specified frequency (e.g., weekly, monthly, quarterly, etc.). When authorizing a recurring payment, you agree to have means to print or otherwise save a copy of your authorization for your records. If the process date for a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is falls on a non-business date (generally weekends and certain holidays)day, it is adjusted based upon the following rulesas follows: If the recurring payment’s “Pay Before” option is selected, the processing process date for the new occurrence of the payment is adjusted to the business day immediately prior to the process date. • If the recurring payment’s “Pay After” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date day after the calculated processing process date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing process date, then the last calendar day of that month is used as the calculated processing process date.

Appears in 1 contract

Samples: static1.squarespace.com

Recurring Payments. You may use Xxxx Payment to authorize automatic recurring payments of recurring bills. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is Scheduled Pay Date falls on a non-business date (generally weekends and certain holidays)Business Day, it is adjusted based upon on the following rules: o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing dateScheduled Pay Date. o If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day after the calculated processing dateScheduled Pay Date. Note: o If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing dateScheduled Pay Date, then the last calendar day of that month is used as the calculated processing dateScheduled Pay Date.

Appears in 1 contract

Samples: Electronic Services Agreement and Disclosure

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the Xxxx Pay system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s payment‘s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Bill Pay Service Agreement and Disclosure

Recurring Payments. A recurring payment may be established for those payments that do not fluctuate per frequency and amount. When a recurring payment is processed, it is automatically rescheduled by the systemXxxx Payment Services. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays)Business Day, it is adjusted based upon the following rules: ; If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date data for the new occurrence of the payment is adjusted to the first business date Business Day after the calculated processing date. Note: If your frequency settings for the recurring payment specify payment’s date specifies the 29th, 30th, or 31st as a particular day of the month for as the processing date, and that day does not exist in the month of the calculated processing dateexist, then the last calendar day of that the month is used as to calculate the calculated processing date.

Appears in 1 contract

Samples: Banking Authorization Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your Your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays)Business Day, it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day after the calculated processing date. Note: If your Your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Service Definitions

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Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s payment‘s “Pay Before” option is selected, the processing date for or the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Online Agreement

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If  I f the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: Billpay Service Agreement and Disclosure

Recurring Payments. You may use Bill Payment to authorize automatic recurring payments of recurring bills. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is Process/Send On Date falls on a non-business date (generally weekends and certain holidays)Business Day, it is adjusted based upon on the following rules: o If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day prior to the calculated processing dateProcess/Send On Date. o If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date Business Day after the calculated processing dateProcess/Send On Date. Note: o If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing dateProcess/Send On Date, then the last calendar day of that month is used as the calculated processing dateProcess/Send On Date.

Appears in 1 contract

Samples: Electronic Services Agreement and Disclosure

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date. There is a $25,000.00 limit on Personal BillPay checks and a $100,000.00 limit on Business BillPay.

Appears in 1 contract

Samples: www.the-bank-er.com

Recurring Payments. When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules: If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date. If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date. Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as a particular day of the month for processing and that day does not exist in the month of the calculated processing date, then the last calendar day of that month is used as the calculated processing date.

Appears in 1 contract

Samples: www.popafcu.org

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