Processing, Transmittal and Settlement by Bank. (i) Except as provided in subsection (g), On-Us Entries, and subsection (h), Rejection of Entries, Bank shall (A) process Entries received from Client to conform with the file specifications set forth in the NACHA Rules; (B) transmit such Entries as an ODFI to the Federal Reserve acting as the ACH Operator; and (C) settle for such Entries as provided in the NACHA Rules.
(ii) Bank shall transmit such Entries to the ACH Operator prior to the Effective Settlement Date shown in such Entries, provided (A) such Entries are received by Bank’s related Cutoff Time on a Business Day; (B) except for Same Day Entries, the Effective Entry Date is at least one day prior to Effective Settlement Date; and (C) the ACH Operator is open for business on such Business Day. Entries shall be deemed received by Bank in the case of transmittal by electronic transmission when the transmission (and compliance with any related Security Procedures provided for herein) is completed.
(iii) Provided Client has enrolled in Same Day ACH Origination, Same Day Entries may be initiated, subject to a fee disclosed by Bank, as long as the amount is less than the per Item limitation established by NACHA, which may change from time to time, and the format requirements are met. In the event Client transmits an Entry on the same Business Day as the requested Effective Settlement Date, Bank will treat the Entry as a Same Day Entry, subject to the appropriate fee.
(iv) If any of the requirements of clause (A), (B), or (C) of paragraph (f)(ii) is not met, Bank shall use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline of the ACH Operator which is a Business Day and a day on which the ACH Operator is open for business.
Processing, Transmittal and Settlement by Bank a. Except as provided in Section 4, the Bank shall (i) process Entries received from the Business Entity in such manner as to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI to the Federal Reserve Bank (the "Fed"), and (iii) settle Entries as provided in the Rules.
b. The Bank shall transmit such Entries to the Fed by the deadline set forth in the attached Schedule B one to two business days prior to the Effective Entry Date shown in such Entries, provided (i) such Entries are received by the Bank's related cut-off time set forth in attached Schedule B on a business day, (ii) the Effective Entry Date conforms to Schedule B, and (iii) the Fed is open for business on such business day, e.g. excluding Federal Holidays. For purposes of this Agreement, Entries shall be deemed received by the Bank in the case of electronic file transmission when the transmission is completed as provided in Schedule A.
c. If any of the requirements of clause (i), (ii), or (iii) of Section 5(b) are not met, the Bank shall use reasonable efforts to transmit such Entries to the Fed by the next deposit deadline on which the Fed is open for business.
Processing, Transmittal and Settlement by Bank a. Except as provided in Sections 5 and 6 of this Article III, Bank shall (i) process Entries received from Company to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI to the Federal Reserve Bank (the “ACH Operator”) acting as an ACH processor, and (iii) settle for such Entries as provided in the Rules.
b. Bank shall transmit such Entries to the ACH Operator one (1) Business Day prior to the Effective Entry Date of the Entries, provided (i) such Entries are received by Bank’s Cut-off Time on a Business Day, and (ii) the ACH Operator is open for business on such Business Day. In the event the Entry is a Same Day ACH transaction file, Bank shall transmit such Entry to the ACH Operator same day, provided the Entry is received prior to the Bank’s Same Day ACH Cut-off Time on a Business Day. For purposes of this ACH Agreement, Entries shall be deemed receivable by Bank, in the case of transmittal by electronic transmissions, when the transmission (and compliance with any related Security Procedure provided for herein) is completed.
c. If any of the requirements of clause (i), (ii), or (iii) of Section 6(b) are not met, Bank shall use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline of the ACH Operator which is a Business Day and a day on which the ACH Operator is open for business.
d. A Same Day ACH transaction is intended for your use only. Trying to use Same Day ACH to process payments on behalf of someone other than you is prohibited and will be grounds for termination of Same Day ACH and your access to the Service. Bank may use nonaffiliated third parties acting on its behalf to process your Same Day ACH transaction. These third-party processors must adhere to Bank’s strict security and privacy protection standards.
Processing, Transmittal and Settlement by Bank. Except as provided in (d) (On-Us Entries) and (g) (Rejection of Requests), Bank shall
(i) process Requests received from Client to conform with the file specifications set forth in the Rules, (ii) transmit such Requests as an ODFI to the operator of the relevant payment network, and (iii) settle for such Requests as provided in the Rules. For purposes of this Agreement, Requests shall be deemed received by Bank, in the case of transmittal by tape, when received by Bank, and in the case of electronic transmission, when the transmission (and compliance with any related Security Procedures provided for herein) is completed. If such requirements are not met, Bank shall use reasonable efforts to transmit such Requests for processing by the next deadline of the payment network operator.
Processing, Transmittal and Settlement by Bank. Except as otherwise provided for in this Agreement and if Bank elects to accept Entries, Bank shall:
10.1. (i) use commercially reasonable efforts to comply with the instructions of Third-Party Sender, (ii) process Entries received from Third-Party Sender to conform with the file specifications set forth in the Rules, (iii) transmit such Entries as an Originating Depository Financial Institution to the ACH processor selected by Bank, (iv) settle for such Entries as provided in the Rules, and (v) in the case of a Credit Entry received for credit to an account with Bank ("On-Us Entry"), Bank shall credit the Receiver's account in the amount of such Credit Entry on the date ("Effective Date") contained in such Credit Entry provided such Credit Entry is received by Bank at the time and in the form prescribed by Bank in Section 5.
10.2. transmit such Entries to the ACH processor by the deposit deadline of the ACH processor, provided: (i) such Entries are completely received by Bank’s cut-off time at the location specified by Bank to Third-Party Sender from time to time; (ii) the Effective Entry Date satisfies the criteria provided by Bank to Third-Party Sender; and (iii) the ACH processor is open for business on such Business Day. Third-Party Sender agrees that the ACH processor selected by Bank shall be considered to have been selected by and designated by Third-Party Sender.
Processing, Transmittal and Settlement by Bank. (a) Except as provided herein and in Section 7 below, Bank shall (i) process Entries received from Customer or the Third Party Processor that conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an Originating Depository Financial Institution to the New York Clearing House Association (the "ACH Operator"), and (iii) settle for such Entries as provided in the Rules;
(b) Bank shall transmit such Entries to the ACH Operator (by Transmittal Deadlines) prior to the Effective Entry Date shown in such Entries, provided (i) such Entries are received by Bank by at least 3 p.m., two (2) Banking days prior to Settlement Date for said Entries, (ii) the Effective Entry Date is at least 2 days after such Banking Day, and (iii) the ACH Operator is open for business on such business day;
(c) If any of the requirements of clause (i), (ii), or (iii) of Section 6(b) is not met, Bank shall use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline on which the ACH Operator is open for business; and iii. (d) Bank will not provide separate advices or notices of individual ACH transactions, which items will be reflected in the applicable periodic statement for Customer’s impacted account.
Processing, Transmittal and Settlement by Bank. (a) Except as provided in Section 9, Rejection of Entries or Deposits, Bank shall (I) process deposits received from Customer, (II) transmit such deposits to the Bank’s correspondent bank, (III) settle for such deposits as provided by Bank in the procedures listed in Schedule RDC-1.
(b) Bank shall transmit or complete the necessary batch authorization of such deposits by the delivery date deadline of the deposits as set forth in Schedule RDC-1 attached hereto prior to the effective entry date provided (I) such deposits are received by Bank’s related cut-off time on a business day as set forth on Schedule RDC-1,
Processing, Transmittal and Settlement by Bank. 4.1 Except as otherwise provided herein, Bank shall (a) process Entries received from Customer to conform with the requirements of this Agreement or the file specifications set forth in the Rules, (b) transmit such Entries as an ODFI to the ACH Operator, and
Processing, Transmittal and Settlement by Bank. Except as otherwise provided for in this Agreement and if Bank elects to accept Entries, Bank shall:
Processing, Transmittal and Settlement by Bank. Except as otherwise provided for in this Agreement, if Bank elects to accept Entries and Customer otherwise complies with the term of this Agreement, Bank shall use commercially reasonable efforts to comply with the instructions of Customer to:
(i) process Entries received from Customer to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI to the ACH processor selected by Bank, (iii) settle for such Entries as provided in the Rules, and (iv) in the case of a Credit Entry received for credit to an Account with Bank (“On-Us Entry”), Bank shall credit the Receiver’s account in the amount of such Credit Entry on the Effective Entry Date contained in such Credit Entry. Customer agrees that the ACH processor selected by Bank shall be considered to have been selected by and designated by Customer and shall be Customer’s agent and Vendor for purposes of this Agreement.
