ACH Automation Sample Clauses

ACH Automation. Plan Sponsor Directs Empower to accept a transfer of Plan records that reflects Participant ACH banking information as provided by the Plan Sponsor or by the Plan’s prior service provider, without any further review and validation of the ACH information provided. 6.3.1. In Directing Empower to accept a transfer of existing Participant ACH banking information to its recordkeeping system, the Plan Sponsor certifies the following: 6.3.1.1. The Participant has previously authorized the Plan to process an ACH debit and/or credit of the Participant’s account at the designated financial institution (“Account”) in connection with all applicable Plan transactions and has authorized the designated financial institution, in the form of electronic fund transfer, to credit and/or debit the same to such Account. 6.3.1.2. The Participant has not revoked the ACH authorization for the Account prior to the transfer and the Plan shall treat the Participant’s ACH authorization for the Account as remaining in effect until Empower receives a notice of cancellation from the Participant. 6.3.1.3. Plan Sponsor Directs Empower to administer all ACH transactions for all Plan purposes under the terms of Empower’s separate ACH Agreement, which the Plan Sponsor has adopted as the Plan’s terms and conditions governing all applicable ACH transactions processed on the Empower platform.
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ACH Automation. Plan Sponsor Directs Empower to accept a transfer of Plan records that ref lects Participant ACH banking information as provided by the Plan Sponsor or by the Plan’s prior service provider, without any further review and validation of the ACH information provided. 6.3.1 In Directing Empower to accept a transf er of existing Participant ACH banking inf ormation to its recordkeeping system, the Plan Sponsor certifies the following: 6.3.1.1 The Participant has previously authorized the Plan to process an ACH debit and/or credit of the Participant’s account at the designated f inancial institution (“Account”) in connection with all applicable Plan transactions and has authorized the designated f inancial institution, in the form of electronic fund transfer, to credit and/or debit the same to such Account. 6.3.1.2 The Participant has not revoked the ACH authorization for the Account prior to the transfer and the Plan shall treat the Participant’s ACH authorization for the Account as remaining in ef f ect until Empower receives a notice of cancellation from the Participant. 6.3.1.3 Plan Sponsor Directs Empower to administer all ACH transactions for all Plan purposes under the terms of Empower’s separate ACH Agreement, which the Plan Sponsor has adopted as the Plan’s terms and conditions governing all applicable ACH transactions processed on the Empower platform. 7 RECORDKEEPING AND ADMINISTRATION SERVICES & FEES 7.1 Basic Plan Administration Fee. Commencing on TOA, Empower will be entitled to the following annual administration f ee (“Basic Plan Administration Fee”). This f ee is used, in whole or in part, f or administrative services provided by Empower as described in this Schedule. In addition, some or all of the f ee (or any other compensation, revenue, asset or source of f unding available to Empower, in Empower’s sole discretion) may be used by Empower to make payments to the Plan under a Plan Expense Account or similar arrangement, if applicable, between the Plan Sponsor and Empower. All Services set forth in this Schedule are included in the Basic Plan Administration Fee unless an additional fee is otherwise noted herein. In the event that the Plan Sponsor requests different or additional Services, the parties shall meet to discuss relevant Empower capabilities and any additional fees that may apply. Per Plan Fee Option The Basic Plan Administration Fee will be payable by the Plan Sponsor on a monthly/quarterly basis during the assessment period, as foll...
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Related to ACH Automation

  • Automation Customer agrees that all shipping locations will use a FedEx online or FedEx compatible shipping solution that is approved and authorized by FedEx, and an agreement for the placement or use of any such shipping solution shall be accepted prior to such use.

  • Workstation Encryption Supplier will require hard disk encryption of at least 256-bit Advanced Encryption Standard (AES) on all workstations and/or laptops used by Personnel where such Personnel are accessing or processing Accenture Data.

  • Merchant has the power and authority to authorize the automatic funds transfer provided for in the Merchant Agreement;

  • ACH and Wire Transfers This Agreement is subject to Article 4A of the Uniform Commercial Code - Funds Transfers as adopted by the state in which the account is opened. If you send or receive a wire transfer, you agree that Fedwire® Funds Service may be used. Federal Reserve Board Regulation J is the law that covers transactions made over Fedwire® Funds Service. When you originate a funds transfer for which Fedwire® Funds Service is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. If you are a party to an Automated Clearing House ("ACH") entry, you agree that we may transmit an entry through the ACH, and you agree to be bound by the National Automated Clearing House Association ("NACHA") Operating Rules and Guidelines, the rules of any local ACH, and the rules of any other systems through which the entry is made. Provisional Payment. Credit we give you is provisional until we receive final settlement for that entry. If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and the party making payment to you via such entry (i.e., the originator of the entry) shall not be deemed to have paid you in the amount of such entry. Notice of Receipt. We will not provide you with notice of our receipt of the order, unless we are so requested by the transfer originator in the order. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you. Choice of Law. We may accept on your behalf payments to your account which have been transmitted, that are not subject to the Electronic Fund Transfer Act, and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state where we are located.

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).