Common use of Notice of Receipt Clause in Contracts

Notice of Receipt. Under the Operating Rules and Guidelines of NACHA, which are applicable to ACH transactions involving your Deposit Account, Depository and Custodian are not required to give next day notice to you of receipt of an ACH item and Depository and Custodian will not do so. However, Depository and Xxxxxxxxx will continue to notify you of the receipt of payments in the periodic statements Custodian provides to you.

Notice of Receipt. Under the Operating Rules and Guidelines of NACHA, which are applicable to ACH transactions involving your Deposit Account, Depository and Custodian are not required to give next day notice to you of receipt of an ACH item and Depository and Custodian will not do so. However, Depository and Xxxxxxxxx Custodian will continue to notify you of the receipt of payments in the periodic statements Custodian provides to you.