Promontory Network Fee Clause Samples

The Promontory Network Fee clause defines the obligation to pay fees associated with using the Promontory Network, a financial services platform or network. This clause typically specifies who is responsible for the fee, how the fee is calculated, and when it must be paid, such as per transaction or on a periodic basis. By clearly outlining the payment terms and responsibilities for network usage, the clause ensures transparency and helps prevent disputes over costs related to accessing or utilizing the Promontory Network.
Promontory Network Fee. During the term of this Agreement, Promontory Network shall be entitled to receive the Promontory Network Fee from each Depository Institution, provided, however, that if, for any reason, the Total All-in Cost of Funds paid by a Depository Institution is insufficient to cover the Promontory Network Fee, then, except as set forth below, Promontory Network shall not be entitled to receive any such shortfall from Company. Notwithstanding the foregoing, if Company requests or is aware of and agrees to enter into a DIA with a Depository Institution notwithstanding that the Total All-in Cost of Funds paid by such Depository Institution pursuant to such DIA is or may become insufficient to cover the Promontory Network Fee, then Promontory Network shall be entitled to receive such shortfall from Company.
View Source
Promontory Network Fee. (1) Except as otherwise set forth in the Agreement, Promontory Network will be paid the Promontory Network Fee by the Depository Institutions. The Promontory Network Fee will accrue daily and will be compounded daily or monthly in accordance with the terms of the applicable DIA. The Promontory Network Fee for each Depository Institution will be an amount equal to the Total All-in Cost of Funds that accrues that day for the Depository Institution minus the Company All-in Cost of Funds that accrues that day for the Depository Institution. Notwithstanding anything to the contrary herein, in no event will Promontory Network receive fees less than $41,667 per month (the “Minimum Monthly Fee”). If the Promontory Network Fee during any month is less than the Minimum Monthly Fee, Promontory Network may recover the difference (the “Fee Shortfall”) by reducing the Company’s fee portion of the Company All-in Cost of Funds for such month (“Monthly Company Fee”) by the amount of the Fee Shortfall. If the Monthly Company Fee is insufficient to cover the Fee Shortfall, then Company agrees to pay Promontory Network the difference between the Monthly Company Fee and the Fee Shortfall within 10 days following the end of the applicable month. (2) The Promontory Network Fee does not include (a) any settlement or wire transfer fees charged by the Settlement Agent, (b) any fees charged by a services provider, (c) any other fees that may be charged by any third party, or (d) any costs of integration with any other system or of any customization of any of Promontory Network’s systems. All such fees and costs will be paid by Company. SERVICE LEVEL APPENDIX SERVICE LEVEL APPENDIX (“SLA”) to DEPOSIT SERVICES AGREEMENT (“DSA”) by and between Aspiration Financial, LLC (‘‘Company”), and Promontory Interfinancial Network, LLC (“Promontory Network”). All references herein to the DSA include this SLA. Terms not otherwise defined herein shall have the same meaning as contained in the main body of the DSA.
View Source

Related to Promontory Network Fee

  • Transport Services Upon the conclusion of such multilateral negotiations, the Parties shall conduct a review for the purpose of discussing appropriate amendments to this Agreement so as to incorporate the results of such multilateral negotiations.

  • Support Services Rehabilitation, counselling and EAP’s. Support is strictly non- punitive, and can be accessed at anytime (self-identification of the need for help is strongly encouraged).

  • Wire Unbundled DS1 Digital Loop This is a designed 4-wire Loop that is provisioned according to industry standards for DS1 or Primary Rate ISDN services and will come standard with a test point, OC, and a DLR. A DS1 Loop may be provisioned over a variety of loop transmission technologies including copper, HDSL-based technology or fiber optic transport systems. It will include a 4-Wire DS1 Network Interface at the End User’s location.

  • Customer Services Customer Relationship Management (CRM): All aspects of the CRM process, including planning, scheduling, and control activities involved with service delivery. The service components facilitate agencies’ requirements for managing and coordinating customer interactions across multiple communication channels and business lines. Customer Preferences: Customizing customer preferences relative to interface requirements and information delivery mechanisms (e.g., personalization, subscriptions, alerts and notifications).

  • Data Location 1.1. The CONTRACTOR shall not store or transfer non-public COUNTY data outside of the United States. This includes backup data and Disaster Recovery locations. The CONTRACTOR will permit its personnel and contractors to access COUNTY data remotely only as required to provide technical support. (Remote access to data from outside the continental United States is prohibited unless approved in advance and in writing by the County.) 1.2. The CONTRACTOR must notify the COUNTY in advance and in writing of any location changes to CONTRACTOR’s data center(s) that will process or store County data.