Common use of Settlement of Cash Clause in Contracts

Settlement of Cash. Xxxxx Fargo maintains depository accounts (each a “Settlement Account”) which shall be used to settle transactions, including electronic transfer of funds, that are consummated at the Covered Machines when Cash is dispensed from a Covered Machine. Servicer’s settlement of transactions with respect to Cash dispensed from a Covered Machine pursuant to the terms of the Servicing Agreement shall be made by wire transfer of the required amount of funds in immediately available funds into the appropriate Settlement Account. Client and Servicer each acknowledges that all Cash dispensing transactions with respect to the Covered Machines, including all charges with respect thereto, and all adjustments, chargebacks, representments and other corrections thereto will be settled to the appropriate Settlement Account. The Settlement Account shall be Xxxxx Fargo account no. _____. The designation of a Settlement Account may be changed only in writing by Client and Xxxxx Fargo and Servicer shall not make payment of any settlement amounts attributable to the Covered Machines to any other account unless so instructed jointly by Client and Xxxxx Fargo.

Settlement of Cash. Xxxxx Wxxxx Fargo maintains depository accounts (each a “Settlement Account”) which shall be used to settle transactions, including electronic transfer of funds, that are consummated at the Covered Machines when Cash is dispensed from a Covered Machine. Servicer’s settlement of transactions with respect to Cash dispensed from a Covered Machine pursuant to the terms of the Servicing Agreement shall be made by wire transfer of the required amount of funds in immediately available funds into the appropriate Settlement Account. Client and Servicer each acknowledges that all Cash dispensing transactions with respect to the Covered Machines, including all charges with respect thereto, and all adjustments, chargebacks, representments and other corrections thereto will be settled to the appropriate Settlement Account. The Settlement Account for Covered Machines that are ATMs (non-Vcom) shall be Xxxxx Wxxxx Fargo account no. _____and the Settlement Account for Covered Machines that are Vcoms shall be Wxxxx Fargo account number . The designation of a Settlement Account may be changed only in writing by Client and Xxxxx Wxxxx Fargo and Servicer shall not make payment of any settlement amounts attributable to the Covered Machines to any other account unless so instructed jointly by Client and Xxxxx Wxxxx Fargo.