Common use of Stop File Processing Clause in Contracts

Stop File Processing. Customer may, at its option, send to Bank a list of accounts for which it does not wish to receive payments. Customer shall provide such list by sending Bank a file transmission to Bank in an agreed upon electronic format. Bank shall provide third party vendor with such list. Third party vendor will monitor, automatically reject (back to the Payment Originator) and assign a reject code to any such Payments. Customer further understands and agrees that Bank may not be able to comply with Customer’s request. In such an event, Customer agrees immediately to notify Bank if a payment is not rejected as described therein.

Stop File Processing. Customer may, at its option, send to Bank a list of accounts for which it does not wish to receive payments. Customer shall provide such list by sending Bank a file transmission to Bank in an agreed upon electronic format. Bank shall provide third party vendor with such list. Third party vendor will monitor, automatically reject (back to the Payment Originator) and assign a reject code to any such Payments. Customer further understands and agrees that Bank may not be able to comply with CustomerXxxxxxxx’s request. In such an event, Customer Xxxxxxxx agrees immediately to notify Bank if a payment is not rejected as described therein.