Common use of Notifications of Change Clause in Contracts

Notifications of Change. Financial Institution will notify Company of Correction Entries (COR), which are commonly referred to as Notification of Change (NOC) Entries, received no later than 2 banking days after the settlement date of the NOC. Company agrees to make the changes submitted within 6 banking days of the receipt of the NOC information or before the next “live” Entry, whichever is later. If the NOC is incorrect, Company will generate a Refused NOC and deliver it to Financial Institution within 15 calendar days.

Appears in 4 contracts

Samples: Ach Origination Agreement, Treasury Management Master Agreement, Treasury Management Master Agreement

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Notifications of Change. Financial Institution will notify Company of Correction Entries (COR), which are commonly referred to as Notification of Change (NOC) Entries, received no later than 2 banking days after the settlement date of the NOC. Company agrees to make the changes submitted within 6 banking days of the receipt of the NOC information or before the next “live” Entry, whichever is later. If the NOC is incorrect, Company will generate a Refused NOC and deliver it to Financial Institution within 15 calendar days.,

Appears in 1 contract

Samples: Ach Origination Agreement

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