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 process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business date (weekends and certain Federal holidays), it is adjusted based upon the following rules: If the recurring payment's "Pay Backward" option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date. If the recurring payment's "Pay Backward" option is not selected (or if the "Pay Backward" option is not available), the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.

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 process processing date is calculated for the next occurrence of the payment. If the calculated process processing date is a non-business date (generally weekends and certain Federal holidays), it is adjusted based upon the following rules: If the recurring payment's "’s “Pay Backward" Before” option is selected, the process processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process processing date. If the recurring payment's "’s “Pay Backward" After” option is not selected (or if the "Pay Backward" option is not available)selected, the process processing date for the new occurrence of the payment is adjusted to the first business date after the calculated process processing date.

Recurring Payments. When a recurring payment is processed, processed it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a process date is calculated for the next occurrence of the payment. If the calculated process date is a non-business date (weekends and certain Federal federal holidays), ) it is adjusted based upon the following rules: • If the recurring payment's "’s “Pay Backward" Before” option is selected, the process date for the new occurrence of the payment is adjusted to the first business date prior to the calculated process date. • If the recurring payment's "“Pay Backward" After” option is not selected (or if the "Pay Backward" option is not available)selected, the process date for the new occurrence of the payment is adjusted to the first business date after the calculated process date.