Erroneous entries Sample Clauses

Erroneous entries. Occasionally an ACH File may contain entries that were created in error (i.e. a payment amount was computed in error). If the Agency discovers such errors before the OST has transmitted the file to the Bank for processing, they may request OST to delete the ACH file. The Agency then must create and transmit a corrected file for processing. To request the delete, contact OST’s ACH processing unit at (000) 000-0000 to determine if the file has been sent to the bank. Written authorization of your delete request, either by e-mail to XXXXX@xxx.xx.xxx or fax (000) 000-0000, must be received prior to OST executing the delete. Written authorization shall include file credit and debit amounts and effective date. OST cannot delete an individual transaction from a file. NACHA rules allow for the reversal of ACH entries transmitted to a Receiver in error. A reversing entry is an offsetting entry (i.e. a debit to reverse a credit) to the Receiver’s account; a reversal does not stop the original entry from posting because it is a separate transaction which offsets the original entry. The Receiver will see both entries posted to their account. OST will create reversal entries for the agency on a limited basis. If reversals are frequently needed OST will provide the agency access to TM$ to create the reversal transactions. The ACH Rules limit the amount of time one may reverse an entry. To ensure compliance with the rules the reversal request must be received by OST no later than 2:00 p.m. Pacific Time on the fourth (4th) banking day after settlement of the original entry. Additionally, the Agency reversing the item must notify the Receiver of the reversal and the reason for the reversal no later than the Settlement Date of the reversing entry. At no time can the Bank’s ARPC alter a transaction. Upon reversing an entry, it is the Agency’s responsibility to make alternative arrangements for the collection or distribution of funds with the Receiver. A word of warning about reversals: Financial institutions typically update their ATM networks, branch teller terminals, etc. by posting credit transactions such as direct deposits for availability at the opening of business on the settlement day. Debit transactions (i.e. reversals of direct deposits) however, may not post until the end of the day on settlement day. Thus, the receiver may have access to and withdraw their ACH credits even though the financial institution has received your reversal on or prior to the Settlement Da...
Sample 1
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Erroneous entries. The Custodian is authorised to reverse any crediting or debiting to any Financial Instruments Account or Cash Account, with effect back-valued to the date upon which the final or correct entry (or no entry) should have been made, in any of the following circumstances:
Sample 1
Erroneous entries. The Customer agrees to review account transaction activity and reconcile ACH batch file transmissions, daily, and to report all errors promptly to the Bank. If the Customer discovers that an entry was initiated was in error, the Bank will utilize its best efforts on behalf of the Customer to correct the entry. In all such cases, it will be the responsibility of the Customer to notify its affected customers that an entry was made in error. RETURNED TRANSACTIONS The Bank will notify the Customer by telephone and mail when advised of any rejected transaction. The Customer agrees to accept any returned EFT transaction.
Sample 1

Related to Erroneous entries

  • Electronic Chattel Paper and Transferable Records If any Grantor at any time holds or acquires an interest in any Electronic Chattel Paper or any “transferable record”, as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor shall promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, shall take such action as the Collateral Agent may request to vest in the Collateral Agent control under New York UCC Section 9-105 of such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with such Grantor that the Collateral Agent will arrange, pursuant to procedures satisfactory to the Collateral Agent and so long as such procedures will not result in the Collateral Agent’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such Electronic Chattel Paper or transferable record.

  • Notation of Records Upon the request of the Administrative Agent, all promissory notes and all accounts receivable ledgers or other evidence of the Guarantor Claims accepted by or held by any Grantor shall contain a specific written notice thereon that the indebtedness evidenced thereby is subordinated under the terms of this Agreement.

  • Delivery of Servicing Records The Seller shall forward to the Purchaser, or its designee, all servicing records and the Servicing File in the Seller's possession relating to each related Mortgage Loan including the information enumerated in the Interim Servicing Agreement (with respect to each such Mortgage Loan, for an interim period, as specified therein).

  • Right to Examine Servicer Records The Owner shall have the right to examine and audit any and all of the books, records, or other information of the Servicer, whether held by the Servicer or by another on its behalf, with respect to or concerning this Agreement or the Mortgage Loans, during business hours or at such other times as may be reasonable under applicable circumstances, upon reasonable advance notice.

  • Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee (a) The Master Servicer shall transmit and each Servicer (to the extent required by the related Servicing Agreement) shall transmit to the Trustee or Custodian such documents and instruments coming into the possession of the Master Servicer or such Servicer from time to time as are required by the terms hereof, or in the case of the Servicers, the applicable Servicing Agreement, to be delivered to the Trustee or Custodian. Any funds received by the Master Servicer or by a Servicer in respect of any Mortgage Loan or which otherwise are collected by the Master Servicer or by a Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan shall be held for the benefit of the Trustee and the Certificateholders subject to the Master Servicer's right to retain or withdraw from the Master Servicer Collection Account the Master Servicing Compensation and other amounts provided in this Agreement, and to the right of each Servicer to retain its Servicing Fee and other amounts as provided in the applicable Servicing Agreement. The Master Servicer shall, and (to the extent provided in the applicable Servicing Agreement) shall cause each Servicer to, provide access to information and documentation regarding the Mortgage Loans to the Trustee, its agents and accountants at any time upon reasonable request and during normal business hours, and to Certificateholders that are savings and loan associations, banks or insurance companies, the Office of Thrift Supervision, the FDIC and the supervisory agents and examiners of such Office and Corporation or examiners of any other federal or state banking or insurance regulatory authority if so required by applicable regulations of the Office of Thrift Supervision or other regulatory authority, such access to be afforded without charge but only upon reasonable request in writing and during normal business hours at the offices of the Master Servicer designated by it. In fulfilling such a request the Master Servicer shall not be responsible for determining the sufficiency of such information.

  • Consent to Electronic Delivery; Electronic Signature In lieu of receiving documents in paper format, you agree, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports and all other forms of communications) in connection with this and any other award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which you have access. You hereby consent to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.

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