Processor’s Obligations. PROCESSOR shall create CUSTOMER files and debit said files for the amount of the applicable transaction. All file information submitted by CUSTOMER on a given day shall constitute a “batch.” PROCESSOR shall transmit the batch to the ODFI for processing and shall credit its account for the aggregate amount of the batch transaction information until final settlement occurs.
Appears in 3 contracts
Sources: Merchant Application and Ach Origination Agreement, Merchant Application and Ach Origination Agreement, Membership Application and Service Agreement
Processor’s Obligations. PROCESSOR Processor shall create CUSTOMER Customer files and debit said files for the amount of the applicable transaction. All file information submitted by CUSTOMER the Customer on a given day shall constitute a “batch.” PROCESSOR ”. Processor shall transmit the batch to the ODFI for processing and shall credit its account for the aggregate amount of the batch transaction information until final settlement occurs.
Appears in 2 contracts
Sources: Member Application and Service Agreement, Check Verification and Guarantee Services Agreement
Processor’s Obligations. PROCESSOR shall create CUSTOMER files and debit ▇▇▇▇▇ said files for the amount of the applicable transaction. All file information submitted by CUSTOMER on a given day shall constitute a “batch.” PROCESSOR shall transmit the batch to the ODFI for processing and shall credit its account for the aggregate amount of the batch transaction information until final settlement occurs.
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