Common use of Compliance with Procedures Clause in Contracts

Compliance with Procedures. a) If a Settlement File (including a Settlement File containing your request for cancellation or amendment of an Entry) has been transmitted by your authorized representative, it will be deemed effective as your Entry (or request) and you shall be obligated to pay ODFI the amount of such Entry as provided herein. b) If a Settlement File (including a Settlement File containing your request for cancellation or amendment of an Entry) was transmitted by you, you shall be obligated to pay the amount of the Entry as provided herein, unless ODFI failed to comply with the agreed security procedures with respect to that Entry; that Entry was erroneous in any respect due to the fault of ODFI or their contractors; that error would have been detected if ODFI had complied with such security procedures; or that Entry was erroneous in any respect due to ODFI’s or their contractors’ negligence, willful misconduct, or acts or omissions other than in accordance with this Agreement.

Compliance with Procedures. a) If a Settlement File (including a Settlement File containing your Company’s request for cancellation or amendment of an Entry) has been transmitted by your a Company authorized representative, it will be deemed effective as your Company’s Entry (or request) and you Company shall be obligated to pay ODFI the amount of such Entry as provided herein. b) If a Settlement File (including a Settlement File containing your Company’s request for cancellation or amendment of an Entry) was transmitted by youCompany, you Company shall be obligated to pay the amount of the Entry as provided herein, unless ODFI failed to comply with the agreed security procedures with respect to that Entry; that Entry was erroneous in any respect due to the fault of ODFI ODFI, or their its contractors; that error would have been detected if ODFI had complied with such security procedures; or that Entry was erroneous in any respect due to ODFI’s or their its contractors’ negligence, willful misconduct, or acts or omissions other than in accordance with this Agreement.