Common use of Processing, Transmittal and Settlement by Bank Clause in Contracts

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. (i) a. Except as provided in subsection (g)Section 8, On-Us Entries, and subsection (h)Section 10, Rejection of Entries, Bank shall will (Ai) process Entries received from Client properly sent by Customer to conform with the file specifications set forth in the NACHA Rules; , (Bii) transmit such Entries as an ODFI Originating Depository Financial Institution to the a Federal Reserve Bank acting as an Automated Clearing House Operator (the “ACH Operator; ”), and (Ciii) settle for such Entries as provided in the NACHA Rules. (ii) . Bank shall will transmit such Entries to the ACH Operator by the deadline of the ACH Operator at least one (1) Business Day prior to the Effective Settlement Entry Date shown in such Entries, provided (A) such Entries are received by Bank’s related Cutoff Time cut-off time (as communicated by Bank to Customer from time to 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; (1) Business Day after such Business Day, and (C) the ACH Operator is open for business on such Business Day. For purposes of this ACH Addendum, Entries shall be deemed received by Bank when the transmission is complete and concluded. For purposes of this Agreement, Entries shall be deemed received by Bank, in the case of transmittal by electronic transmission transmission, when the transmission (and compliance with any related Security Procedures provided for herein) is completedcomplete and concluded. (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) b. If any of the requirements of clause (Ai), (Bii), or (Ciii) of paragraph (f)(ii) Section 4.a. is not met, Bank shall will use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline of the ACH Operator following that specified by Bank which is a Business Day and a day on which the ACH Operator is open for business. c. Same Day ACH. Customer may elect, on the Enrollment Form, same day settlement for eligible ACH credit or debit entries subject to applicable cut-off deadlines and transactions fees, as disclosed to Customer by Bank. All ACH transaction types are eligible (excluding International ACH Transactions (IATs)) with a per transaction limit determined by NACHA rules. Originating an ACH file with an entry date of current day that falls within the same day origination window will be handled, processed, billed and settled as a same-day item provided Customer is enrolled for ACH Origination Service. If Customer is not enrolled in Same Day ACH Origination and originates entries with a same day effective date such entries will be subject to unauthorized batch fees. Bank shall not be responsible if another receiving financial institution is unable to receive or initiate same day ACH payments, fails to act, fails to make funds available or fails to settle a same-day transaction timely. Customer is responsible for following appropriate NACHA rules for ACH transactions including proper authorization and timing for debits. Additional fees may apply for returned ACH transactions. Customer agrees to pay Bank fees for Same Day ACH, including without limitation, unauthorized batch fees, and returned ACH transactions, are as set forth at the time the Enrollment Form is completed and as provided to Customer by Bank from time to time.

Processing, Transmittal and Settlement by Bank. (i) a. Except as provided in subsection (g)Section 8, On-Us Entries, and subsection (h)Section 10, Rejection of Entries, Bank shall will (Ai) process Entries received from Client properly sent by Customer to conform with the file specifications set forth in the NACHA Rules; , (Bii) transmit such Entries as an ODFI Originating Depository Financial Institution to the a Federal Reserve Bank acting as an Automated Clearing House Operator (the “ACH Operator; ”), and (Ciii) settle for such Entries as provided in the NACHA Rules. (ii) . Bank shall will transmit such Entries to the ACH Operator by the deadline of the ACH Operator at least one Business Day prior to the Effective Settlement Entry Date shown in such Entries, provided (A) such Entries are received by Bank’s related Cutoff Time cut-off time (as communicated by Bank to Customer from time to 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; Business Day after such Business Day, and (C) the ACH Operator is open for business on such Business Day. For purposes of this ACH Addendum, Entries shall be deemed received by Bank when the transmission is complete and concluded. For purposes of this Agreement, Entries shall be deemed received by Bank, in the case of transmittal by electronic transmission transmission, when the transmission (and compliance with any related Security Procedures Procedure provided for herein) is completedcomplete and concluded. (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) b. If any of the requirements of clause (Ai), (Bii), or (Ciii) of paragraph (f)(ii) Section 4.a is not met, Bank shall will use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline of the ACH Operator following that specified by Bank which is a Business Day and a day on which the ACH Operator is open for business. c. Same Day ACH. Customer may elect, on the Enrollment Form, same day settlement for eligible ACH credit or debit entries subject to applicable cut-off deadlines and transactions fees, as disclosed to Customer by Bank. All ACH transaction types are eligible (excluding International ACH Transactions (IATs)) with a per transaction limit determined by NACHA rules. Originating an ACH file with an entry date of current day that falls within the same day origination window will be handled, processed, billed, and settled as a same-day item provided Customer is enrolled for ACH Origination Service. If Customer is not enrolled in Same Day ACH Origination and originates entries with a same day effective date, such entries will be subject to unauthorized batch fees. Bank shall not be responsible if another receiving financial institution is unable to receive or initiate same day ACH payments, fails to act, fails to make funds available or fails to settle a same-day transaction timely. Customer is responsible for following appropriate NACHA rules for ACH transactions including proper authorization and timing for debits. Additional fees may apply for returned ACH transactions. Customer agrees to pay Bank fees for Same Day ACH, including without limitation, unauthorized batch fees, and returned ACH transactions, are as set forth at the time the Enrollment Form is completed and as provided to Customer by Bank from time to time.

Processing, Transmittal and Settlement by Bank. (i) a. Except as provided in subsection (g)Section 8, On-Us Entries, and subsection (h)Section 10, Rejection of Entries, Bank shall will (Ai) process Entries received from Client properly sent by Customer to conform with the file specifications set forth in the NACHA Rules; , (Bii) transmit such Entries as an ODFI Originating Depository Financial Institution to the a Federal Reserve Bank acting as an Automated Clearing House Operator (the “ACH Operator; ”), and (Ciii) settle for such Entries as provided in the NACHA Rules. (ii) . Bank shall will transmit such Entries to the ACH Operator by the deadline of the ACH Operator at least one (1) Business Day prior to the Effective Settlement Entry Date shown in such Entries, provided (A) such Entries are received by Bank’s related Cutoff Time cut-off time (as communicated by Bank to Customer from time to 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; (1) Business Day after such Business Day, and (C) the ACH Operator is open for business on such Business Day. For purposes of this ACH Addendum, Entries shall be deemed received by Bank when the transmission is complete and concluded. For purposes of this Agreement, Entries shall be deemed received by Bank, in the case of transmittal by electronic transmission transmission, when the transmission (and compliance with any related Security Procedures provided for herein) is completedcomplete and concluded. (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) b. If any of the requirements of clause (Ai), (Bii), or (Ciii) of paragraph (f)(iiSection 4(a) is not met, Bank shall will use reasonable efforts to transmit such Entries to the ACH Operator by the next deposit deadline of the ACH Operator following that specified by Bank which is a Business Day and a day on which the ACH Operator is open for business. c. Same Day ACH. Customer may elect, on the Enrollment Form, same day settlement for eligible ACH credit or debit entries subject to applicable cut-off deadlines and transactions fees, as disclosed to Customer by Bank. All ACH transaction types are eligible (excluding International ACH Transactions (IATs)) with a per transaction limit determined by NACHA rules. Originating an ACH file with an entry date of current day that falls within the same day origination window will be handled, processed, billed and settled as a same-day item provided Customer is enrolled for ACH Origination Service. If Customer is not enrolled in Same Day ACH Origination and originates entries with a same day effective date such entries will be subject to unauthorized batch fees. Bank shall not be responsible if another receiving financial institution is unable to receive or initiate same day ACH payments, fails to act, fails to make funds available or fails to settle a same-day transaction timely. Customer is responsible for following appropriate NACHA rules for ACH transactions including proper authorization and timing for debits. Additional fees may apply for returned ACH transactions. Customer agrees to pay Bank fees for Same Day ACH, including without limitation, unauthorized batch fees, and returned ACH transactions, are as set forth at the time the Enrollment Form is completed and as provided to Customer by Bank from time to time.