TEL Entries Sample Clauses

TEL Entries. You can submit ACH Orders for telephone-initiated debit entries (each a “TEL Entry”). You may initiate Single Entries to consumer accounts pursuant to oral authorizations you obtain from Receivers (“Consumers”) by telephone. (For recurring TEL Entries, see also the Subsection below entitled “Additional Terms for Recurring TEL Entries”). You agree to submit TEL entries in accordance with the technical specifications and formatting requirements set forth in the Rules and as directed by us from time to time. An entry based on a consumer’s oral authorization must utilize the TEL Standard Entry Class Code.
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TEL Entries. If Company has been approved by Bank to initiate TEL Entries, the following additional provisions apply. TEL Entries are debit Entries transmitted to a Consumer Receiver’s account that are initiated by telephone and use the TEL Entry Standard Entry Class (SEC) Codes. Company may not utilize TEL Entries to transmit credit Entries to the Consumer Receiver’s account, unless those Entries are credits to reverse erroneous debits. TEL Entries may be both recurring and non-recurring. TEL Entries may be initiated by Company based on an Authorization that is orally communicated by telephone by Company. In addition to the obligations of Company set forth in this Subpart, as a condition to transmitting TEL Entries, the Rules require that Bank and Company agree to the additional procedures and practices, rights and liabilities, as more fully set forth herein and in the Rules, as well as in the Security Procedures applicable to TEL Entries. Transactions Eligible for TEL Entries. A TEL Entry may be transmitted by Company as Originator only where (i) there is an existing relationship between Company and the Receiver, or (ii) there is not an existing relationship between the Receiver and Company, but the Receiver has initiated the telephone call to Company. If there is no existing relationship between Company and the Receiver, and Company has originated the telephone call, Company may not initiate a TEL Entry. A pre-existing relationship between the Receiver and an affiliate of Company does not constitute a pre-existing relationship with Company.
Sample 1
TEL Entries. If you elected to initiate TEL Entries, as documented on your Treasury Service Data Supplement Form, and we authorize you to originate TEL Entries on applicable Accounts, then such TEL Entries are subject to the provisions of this Section.  With respect to all TEL Entries, you hereby make each of the representations, warranties and covenants of an Originator of TEL Entries as set forth in the NACHA Rules regarding TEL Entries as of the date of your initial TSRF and each time you initiate a TEL Entry, including, without limitation, all warranties and covenants concerning consumer authorizations and disclosures. You specifically represent and warrant you have used commercially reasonable procedures to verify the identity of the consumer, including the consumer's name, address and telephone number and have used commercially reasonable procedures to verify that routing numbers are valid. We may, at our option and in our sole discretion, establish exposure limits limiting the number and/or dollar amount of TEL Entries which you may have outstanding at any one time. We may terminate your right to originate TEL Entries at any time. W EB Entries. If you elected to initiate WEB Entries, as documented on your Treasury Service Data Supplement Form, and we authorize you to originate WEB Entries on applicable accounts, then such WEB Entries are subject to the provisions of this Section.  With respect to all WEB Entries, you hereby make each of the representations, warranties and covenants of an Originator of WEB Entries as set forth in the NACHA Rules regarding WEB Entries as of the date of your initial TSRF and each time you initiate a WEB Entry, including, without limitation, that you have employed a commercially reasonable fraudulent transaction detection system to screen each WEB Entry (which, at a minimum, validates the account to be debited for the first use of such account number and for each subsequent change to such account number), received written authorization from the Receiver, employed commercially reasonable methods of authentication to verify the identity of the Receiver, taken commercially reasonable steps to verify that routing numbers are valid and will conduct an annual audit to ensure that the financial information obtained from Receivers is protected by adequate securities practices in accordance with the NACHA Rules. CCD/CTX Entries. If you elected to initiate CCD or CTX Entries, as documented on your Treasury Service Data Supplement Form, and ...
Sample 1

Related to TEL Entries

  • Book Entries The Liquidity Provider shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower resulting from Advances made from time to time and the amounts of principal and interest payable hereunder and paid from time to time in respect thereof; provided, however, that the failure by the Liquidity Provider to maintain such account or accounts shall not affect the obligations of the Borrower in respect of Advances.

  • Rejection of Entries Bank shall have the right to reject any Entry which does not comply with the requirements of Section 5 of this Article III and the requirements of Article VII ("Security Procedures"), or which contains an Effective Entry Date more than two (2) days after the Business Day such Entry is received by Bank. Bank shall have the right to reject an On-Us Entry for any reason for which an Entry may be returned under the Rules. Bank shall have the right to reject any Entry if Company has failed to comply with its account balance obligations as set forth in Section 11 below. Bank shall notify Company by phone or electronic transmission of such rejection no later than the Business Day such Entry would otherwise have been transmitted by Bank to the ACH Operator or, in the case of an On-Us Entry, its Effective Entry Date. Bank shall have no liability to Company by reason of the rejection of any such Entry or the fact that such notice is not given at an earlier time than that provided for herein.

  • Entries Binding Entries made in the Loan Account shall constitute presumptive evidence of the information contained therein. If any information contained in the Loan Account is provided to or inspected by any Person, then such information shall be conclusive and binding on such Person for all purposes absent manifest error, except to the extent such Person notifies Agent in writing within 30 days after receipt or inspection that specific information is subject to dispute.

  • Books and Records (a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or such Subsidiary, as the case may be; and (b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Borrower or such Subsidiary, as the case may be.

  • Records The Administrator shall maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time during normal business hours.

  • Entry Landlord shall have the right to enter upon the Leased Premises at reasonable hours to inspect the same, provided Landlord shall not thereby unreasonably interfere with Tenant's business on the Leased Premises.

  • Books The Company shall keep books and records of accounts and shall keep minutes of the proceedings of its Members. The calendar year shall be the accounting year of the Company.

  • Effect of Entries The entries made in the records maintained pursuant to paragraph (c) or (d) of this Section shall be prima facie evidence, absent obvious error, of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.

  • Keeping Books and Records The Borrower will maintain, and will cause each Subsidiary to maintain, proper books of record and account in which full, true, and correct entries in conformity with GAAP shall be made of all dealings and transactions in relation to its business and activities.

  • Transfers of Ownership If certificates representing shares of Parent Common Stock are to be issued in a name other than that in which the Certificates surrendered in exchange therefor are registered, it will be a condition of the issuance thereof that the Certificates so surrendered will be properly endorsed and otherwise in proper form for transfer and that the persons requesting such exchange will have paid to Parent or any agent designated by it any transfer or other taxes required by reason of the issuance of certificates representing shares of Parent Common Stock in any name other than that of the registered holder of the Certificates surrendered, or established to the satisfaction of Parent or any agent designated by it that such tax has been paid or is not payable.

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