Common use of Prenotification Clause in Contracts

Prenotification. The Bank recommends the Customer issue zero-dollar prenotification Entries three (3) banking days following the prenotes settlement date prior to initiating the first live dollar Entries. Such Entries are to be provided to the Bank in the format and on the medium provided in the NACHA rules. Should the Customer receive notice that any such prenotification has been rejected by an RDFI, or that an RDFI will not receive Entries without having first received a copy of the written authorization signed by its customer (the “Receiver”), the Customer will initiate no further Entries to the Receiver until such time as the Customer provides the RDFI with such authorization. At such time, the Customer may initiate Entries within the time limits provided in the ACH Rules.

Prenotification. The Bank recommends the Customer issue zero-zero dollar prenotification Entries three (3) banking 2 days following the prenotes settlement date prior to initiating the first live dollar Entries. Such Entries are to be provided to the Bank in the format and on the medium provided in the NACHA rules. Should the Customer receive notice that any such prenotification has been rejected by an RDFI, or that an RDFI will not receive Entries without having first received a copy of the written authorization signed by its customer (the “Receiver”), the Customer will initiate no further Entries to the Receiver until such time as the Customer provides the RDFI with such authorization. At such time, the Customer may initiate Entries within the time limits provided in the ACH Rules.