Common use of COMPLIANCE WITH RULES AND LAWS Clause in Contracts

COMPLIANCE WITH RULES AND LAWS. Customer acknowledges that Customer has a copy of or has access to a copy of the Rules. Customer agrees to comply with and be subject to the NACHA Rules in existence as of the date of this Agreement, and any amendments to these NACHA Rules made from time to time. It shall be the responsibility of the Customer that the origination of ACH transactions complies with U.S. law, including but is not limited to sanctions enforced by the OFAC and all rules and regulations promulgated by the FTC. It shall further be the responsibility of the Customer to obtain information regarding such OFAC enforced sanctions. (This information may be obtained directly from the OFAC Compliance Hotline at (800) 540-OFAC). Bank will charge the Customer with any fines incurred as a result of non-compliance by the Customer and the Customer agrees to fully reimburse and/or indemnify Bank for such charges or fines. The specific duties of the Customer provided in the following paragraphs of this Agreement in no way limit the foregoing undertaking. The duties of the Customer set forth in the following paragraphs of this Agreement in no way limit the requirement of complying with the Rules. Bank may terminate or suspend this Agreement upon written notice and identification of a material breach by Customer of the Rules. Furthermore, Bank shall have the right to initiate an audit of Customer procedures for compliance with this Agreement and the Rules, upon written notification to Customer.

COMPLIANCE WITH RULES AND LAWS. Customer acknowledges that Customer has a copy of or has access to a copy of the Rules. Customer agrees to comply with and be subject to the Rules of NACHA Rules in existence as of the date of this Agreement, and any amendments to these NACHA Rules made from time to time. It shall be the responsibility of the Customer that the origination of ACH transactions complies with U.S. law, including but is not limited to sanctions enforced by the OFAC Office of Foreign Assets Control (“OFAC”) and all rules and regulations promulgated by the Federal Trade Commission (“FTC”). It shall further be the responsibility of the Customer to obtain information regarding such OFAC enforced sanctions. (This information may be obtained directly from the OFAC Compliance Hotline at (800) 540-OFAC). Bank will charge the Customer with any fines incurred as a result of non-non- compliance by the Customer and the Customer agrees to fully reimburse and/or indemnify Bank for such charges or fines. The specific duties of the Customer provided in the following paragraphs of this Agreement in no way limit the foregoing undertaking. The duties of the Customer set forth in the following paragraphs of this Agreement in no way limit the requirement of complying with the Rules. Bank may terminate or suspend this Agreement upon written notice and identification of a material breach by Customer of the Rules. Furthermore, Bank shall have the right to initiate an audit of Customer procedures for compliance with this Agreement and the Rules, upon written notification to Customer.