Common use of PROHIBITED AND/OR RESTRICTED TRANSACTIONS Clause in Contracts

PROHIBITED AND/OR RESTRICTED TRANSACTIONS. Customer agrees not to use or attempt to use the ACH Services (i) to engage in any illegal purpose or activity or to violate any Applicable Law, (ii) to breach any contract or agreement by which Customer is bound, (iii) to engage in any of the businesses or activities listed on Bank’s Restricted Business List, which list may be amended, modified and/or supplemented at any time in Bank’s sole and absolute discretion, whether or not such Restricted Business relates to activities that are legal in any applicable jurisdiction, (iv) to engage in any activity or business that would result in Customer being or becoming a “money service business” as defined in the Bank Secrecy Act and its implementing regulations, unless Bank has specifically authorized such activity or business, (v) to engage in any transaction for the sale of goods or services that are illegal under the federal laws of the United States, irrespective of whether such goods or services may be legal under the laws of the state or other jurisdiction in which the underlying transaction occurs, (vi) to engage in any transaction using cryptocurrency (in any form), or other alternative currency or instrument (as determined by Bank), (vii) to process payments for a transaction in foreign currency, (viii) to allow any nested arrangements without Bank’s prior written consent, or (ix) to engage in any transaction or activity that is not specifically authorized and permitted by these Terms. Customer acknowledges and agrees that Bank has no obligation to monitor Customer’s use of the ACH Services for transactions and activity that is impermissible or prohibited under the terms of these Terms; provided, however, Bank reserves the right to decline to execute any transaction or activity that Bank believes violates the terms of these Terms. t. PRENOTIFICATION. Customer, at its option, may send pre-notification that it intends to initiate an Entry or Entries to a particular account within the time limits prescribed for such notice in the Rules. Such notice shall be provided to Bank in the format and on the medium provided in the media format section of such Rules. If Customer receives notice that such pre-notification has been rejected by an RDFI within the prescribed period, or that an RDFI will not receive Entries without having first received a copy of the authorization signed by its customer, Customer shall not initiate any corresponding Entries to such accounts until the cause for rejection has been corrected or until providing the RDFI with such authorization within the time limits provided by the Rules.

PROHIBITED AND/OR RESTRICTED TRANSACTIONS. Customer agrees not to use or attempt to use the ACH Services (i) to engage in any illegal purpose or activity or to violate any Applicable Law, (ii) to breach any contract or agreement by which Customer is bound, (iii) to engage in any of the businesses or activities listed on Bank’s Restricted Business List, which list may be amended, modified and/or supplemented at any time in Bank’s sole and absolute discretion, whether or not such Restricted Business relates to activities that are legal in any applicable jurisdiction, (iv) to engage in any activity or business that would result in Customer being or becoming a “money service business” as defined in the Bank Secrecy Act and its implementing regulations, unless Bank has specifically authorized such activity or business, (v) to engage in any transaction for the sale of goods or services that are illegal under the federal laws of the United States, irrespective of whether such goods or services may be legal under the laws of the state or other jurisdiction in which the underlying transaction occurs, (vi) to engage in any transaction using cryptocurrency (in any form), or other alternative currency or instrument (as determined by Bank), (vii) to process payments for a transaction in foreign currency, (viiivii) to allow any nested arrangements without Bank’s prior written consent, or (ixviii) to engage in any transaction or activity that is not specifically authorized and permitted by these Terms. Customer acknowledges and agrees that Bank has no obligation to monitor Customer’s use of the ACH Services for transactions and activity that is impermissible or prohibited under the terms of these Terms; provided, however, Bank reserves the right to decline to execute any transaction or activity that Bank believes violates the terms of these Terms. t. PRENOTIFICATION. Customer, at its option, may send pre-notification that it intends to initiate an Entry or Entries to a particular account within the time limits prescribed for such notice in the Rules. Such notice shall be provided to Bank in the format and on the medium provided in the media format section of such Rules. If Customer receives notice that such pre-notification has been rejected by an RDFI within the prescribed period, or that an RDFI will not receive Entries without having first received a copy of the authorization signed by its customer, Customer shall not initiate any corresponding Entries to such accounts until the cause for rejection has been corrected or until providing the RDFI with such authorization within the time limits provided by the Rules.