Same Day ACH Origination Sample Clauses

Same Day ACH Origination. The Customer will deliver each same day ACH Entry (refer below for the definition of a “Qualifying Entry” for same day ACH) or file of same day ACH Entries to Bank no later than 12 p.m. Central Standard Time on the settlement date or in a schedule mutually agreed upon by Customer and Bank incorporated herein. All Entry information so delivered shall be in the medium required by the Bank and the format required by the Rules. For purposes of this Agreement, a Banking Day is every day on which the Bank is open to the public for purposes of carrying on substantially all of our business, except Saturdays, Sundays, and holidays that are observed by the Federal Reserve Bank. In order to qualify for same day ACH, Entries transmitted by Customer must meet the following characteristics (Qualifying Entries):
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Same Day ACH Origination. Customer will deliver each same day ACH Entry or file of same day ACH Entries to Bank no later than the Cut-Off Time on the settlement date. Same day ACH Entries must comply with the Operating Rules and Bank’s requirements and restrictions as disclosed to Customer from time to time.
Sample 1
Same Day ACH Origination. For same day ACH Origination, you will delivery each same day ACH entry or file of same day ACH entries to us prior to 9 a.m. Pacific Standard Time on the settlement date or in a schedule mutually agreed upon by us. All entry information so delivered shall be in the medium required by us and the format required by the ACH Rules. In order to qualify for same day ACH, entries transmitted by you must meet all of the following characteristics: (a) Have an effective entry date equal to the current date (settlement date); (b) Be less than or equal to the dollar threshold currently specified by NACHA for same day ACH entries; (c) The file is to contain PPD or CCD SEC codes unless others are specifically requested; (d) In the event an ACH file is transmitted by you which contains a mix of qualifying and non- qualifying ACH entries, we will make reasonable attempts to originate qualifying entries the same day and non-qualifying entries on the next Business Day; however, we will not be responsible for any delay in same day settlement caused by your comingling of qualifying and non-qualifying entries or any other consequences incurred due to delayed settlement. Typically, same day ACH entries cannot be mixed in the same batch with regular ACH entries.
Sample 1

Related to Same Day ACH Origination

  • Origination No predatory or deceptive lending practices, including, without limitation, the extension of credit without regard to the ability of the Mortgagor to repay and the extension of credit which has no apparent benefit to the Mortgagor, were employed in the origination of the Mortgage Loan;

  • Origination Date The origination date of a Mortgage Loan is no earlier than thirty (30) days prior to the related Purchase Date.

  • Compliance with Credit and Collection Policy Such Seller Party has complied in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract, and has not made any material change to such Credit and Collection Policy, except such material change as to which Agent and each Purchaser Agent have been notified in accordance with Section 7.1(a)(vii) and receipt Agent’s and each Purchaser Agent’s consent to the extent referenced therein.

  • Compliance with Contracts and Credit and Collection Policy Originator will timely and fully (i) perform and comply with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and (ii) comply in all respects with the Credit and Collection Policy in regard to each Receivable and the related Contract.

  • Origination Fee The Borrower shall pay the Lender a fully earned and non-refundable origination fee of $50,000, due and payable upon the execution of this Agreement.

  • MORTGAGE LOAN ORIGINATOR EDUCATION 1. Prior to the submission of a new application for any new mortgage loan originator license or, as applicable, the filing of a petition for the reinstatement of an MLO Activity Endorsement in any Participating State as provided for in Section II, Paragraph 2 of this Order, the Respondent will be required to complete the following mortgage loan originator education requirements: a. Twenty hours of NMLS approved PE, which shall consist of 14 hours of federal law curriculum, three hours of ethics curriculum, and three hours of non-traditional mortgage lending curriculum. None of these 20 hours of PE may be state-specific curriculum; and b. Eight hours of CE, which shall consist of four hours of federal law curriculum, two hours of ethics curriculum, and two hours of non-traditional mortgage lending curriculum. None of these eight hours of CE may be state-specific curriculum. 2. Respondent may not take any of the PE or CE provided for in Paragraph 1 of this Section in an online self-study format (“OSS”). 3. For a period three years from the Effective Date of this Order, Respondent shall be required to complete any additional required PE and/or CE in a format other than OSS.

  • Credit and Collection Policy The Servicer has complied in all material respects with the Credit and Collection Policy with regard to each Pool Receivable and the related Contracts.

  • Change in Business or Credit and Collection Policy The Seller will not make any change in the character of its business or in the Credit and Collection Policy that would, in either case, materially adversely affect the collectibility of the Receivables Pool or the ability of the Seller to perform its obligations under this Agreement.

  • Seller's Origination The Seller's decision to originate any mortgage loan or to deny any mortgage loan application is an independent decision based upon the Underwriting Guidelines, and is in no way made as a result of Purchaser's decision to purchase, or not to purchase, or the price Purchaser may offer to pay for, any such mortgage loan, if originated;

  • Credit and Collection Policies Comply in all material respects with its Credit and Collection Policy in connection with the Receivables that it generates and all Contracts and other agreements related thereto.

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