Rejected Entries Sample Clauses
Rejected Entries. You shall be responsible for remaking any Entries rejected during processing or rejected by any Participating Depository Financial Institutions ("Rejected Entries"), except Entries rejected as a result of our error, if sufficient data is made available to us to permit us to remake those Entries in a correct manner ("Correcting Entries"). In the case of Rejected Entries which are debits or any adjustment memoranda or Entries relating to a debit Entry, upon notification by us, you immediately will provide us with sufficient available funds to reimburse and indemnify us for any funds which were received or subject to any adjustment. You shall retain for not less than five (5) banking days after midnight of the Settlement Date all information necessary to remake any Entries, file or make any Correcting Entries, and, if requested by us, shall supply such information to us. You agree and acknowledge that if we receive a Notification of Change (“NOC”) file from a Receiving Depository Financial Institution that results from an Entry you submitted, future entries containing certain related incorrect information may be modified by us to reflect the corrected information received in the NOC and retransmitted. If the Entry that caused the NOC is a recurring Entry, subsequent transmissions may be modified to reflect the corrected information received in the NOC.
Rejected Entries. In the event that any entries are rejected by the ACH Operator for any reason, it shall be the responsibility of the Company to remake such entries. Should the file be rejected due to an error caused by the ODFI, the ODFI shall be responsible to remake the file. In such a case, the Company will supply sufficient information, upon request, to allow the ODFI to recreate the entries for up to five (5) business days after midnight of the settlement date.
Rejected Entries. Company shall be responsible for remaking any Entries rejected during processing or rejected by any Participating Depository Financial Institutions ("Rejected Entries"), except Entries rejected as a result of F&M BANK’s error, if sufficient data is made available to F&M BANK to permit it to remake those Entries in a correct manner ("Correcting Entries"). In the case of Rejected Entries which are debits or any adjustment memoranda or Entries relating to a debit Entry, upon notification by F&M BANK, Company immediately will provide F&M BANK with sufficient available collected funds to reimburse and indemnify F&M BANK for any funds which were received or subject to any adjustment. Company shall retain for not less than ten (10) Business Days after midnight of the Settlement Date all information necessary to remake any Entries, file or make any Correcting Entries, and, if requested by F&M BANK, shall supply such information to F&M BANK. Company agrees and acknowledges that if F&M BANK receives a Notification of Change (“NOC”) file from a Receiving Depository Financial Institution that results from an Entry Company submitted, Company is required to ensure future entries are modified to reflect the corrected information received in the NOC. F&M Bank may reject any Entry for any reason in its sole discretion including, but not limited to, failure to follow the requirements of this Agreement, an Effective Date more than ten (10) calendar days after the Business Day such Entry is received by F&M Bank, and Company’s default under any other agreement, contract or
Rejected Entries. Without limiting Bank’s general right to reject entries or files under the Rules, Bank may reject any entry or file which does not comply with the requirements in this Service Description, the Rules or the security procedure, or with respect to which the Account (see Subsection 8.02) does not contain sufficient available funds to pay for the entry. Bank may reject an entry received for credit to an account maintained at Bank (an “on-us entry”) for any reason for which an entry may be returned under the Rules. If an entry or file is rejected, Bank will make a reasonable effort to notify Company promptly so that Company may repair and retransmit the entry or file. A notice of rejection will be effective when given. Bank will have no liability to Company by reason of the rejection of any entry or file, the fact that notice is not given at an earlier time than that provided for in this Service Description or for any loss resulting from Bank’s failure to provide notice. If Company requests that Bank repair an entry or file and Bank endeavors to do so, Bank will not be liable for its failure to make the requested repair. Company will pay all charges and expenses Bank incurs in connection with file repairs.
Rejected Entries. Entries may be rejected by us or the ACH Operator for reasons specified in the NACHA Rules. We have the right to reject any Entry because such Entry does not meet the criteria for submission and processing that we have agreed upon. Upon rejection of any Entry (or group of Entries) initiated by you, we will notify you in the method indicated in the Documentation no later than the following Business Day that such Entry would otherwise have been transmitted by us to the ACH Operator. Notices of rejection shall be effective when given. Each rejected Entry will be unprocessed, returned, charged or credited back to the Settlement Account (as defined below). We assume no other responsibility with respect to such rejected Entry and you are responsible for remaking and resubmitting such Entry or otherwise handling the payments or charges with the Receiver. We may in our sole discretion remake and resubmit any rejected Entry but shall have no obligation to do so.
Rejected Entries. The financial institution on which a Returned Item was drawn may reject any RCK entry without liability to us. In the event any RCK entry submitted on your behalf is rejected by the ACH for any reason and we have sufficient data to permit us to repair the RCK entry, we will make the repair. Upon our request, you will provide us with all information necessary to repair any RCK entry or file of RCK entries.