Common use of Responsibilities of Alloya Clause in Contracts

Responsibilities of Alloya. Alloya shall transmit ACH Entries to the ACH Operator on behalf of Member. (A) Alloya shall receive ACH origination Entries from Member and forward to the ACH Operator during Alloya’s processing hours as published in Premier View. Alloya shall have no obligation to transmit Entries received after the cutoff time. (B) Alloya will process all Entries based on the Effective Entry Date provided by Member. If Member provides a stale date for the Effective Entry Date, Alloya will automatically advance the Entry to the earliest next available Effective Entry Date based on when Alloya receives the item and Alloya’s cutoff time. (C) Alloya is not responsible for the timeliness, authorization, or validity of any Entry. The transmission of Entries by Alloya to the ACH Operator on behalf of the Member will occur only when Member has complied with all formatting and other requirements specified in the ACH Services Agreement.

Responsibilities of Alloya. Alloya shall transmit ACH Entries to the ACH Operator on behalf of Member. (A) Alloya shall receive ACH origination Entries from Member and forward to the ACH Operator during Alloya’s processing hours as published in Premier View. Alloya shall have no obligation to transmit Entries received after the cutoff time. (B) Alloya will process all Entries based on the Effective Entry Date provided by Member. If Member provides a stale date for the Effective Entry Date, Alloya will automatically advance the Entry to the earliest next available Effective Entry Date based on when Alloya receives the item and Alloya’s cutoff time. (C) Alloya is not responsible for the timeliness, authorization, or validity of any Entry. The transmission of Entries by Alloya to the ACH Operator on behalf of the Member will occur only when Member has complied with all formatting and other requirements specified in the ACH Services Originator Agreement.