Common use of REPORT OF ENTRIES AND NOTICES Clause in Contracts

REPORT OF ENTRIES AND NOTICES. Each calendar month, Sub-Merchant will provide a mutually agreed report (“Summary Report”) to WorkWave regarding ACH Entry volumes, identifying Entries by NACHA standard entry codes. (For a description of NACHA standard entry codes (SECs), see ▇▇▇.▇▇▇▇▇.▇▇▇.) The Summary Report for each calendar month must be received by WorkWave no later than the fifth (5th) day of each calendar month for Entries processed in the preceding calendar month. The Summary Report will include a total of unauthorized returns and a summary of all losses suffered or incurred by Sub- Merchant, or reasonably expected by Sub-Merchant to be suffered or incurred, in connection with failed or reversed Entries, and activity or fines assessed against Sub-Merchant relating to Entries, during the applicable calendar month. Sub-Merchant also will provide to WorkWave any notices received by Sub-Merchant relating to its or WorkWave’s compliance or alleged failure to comply with the Operating Rules, other NACHA requirements, Federal Reserve requirements, or Office of Foreign Assets actions, or otherwise relating to misuse or alleged misuse of the ACH Network, no later than two (2) Business Days after Sub-Merchant’s receipt of such notice, and in any event, as soon as possible. At WorkWave’s request, Sub-Merchant will provide information regarding specific Entries to WorkWave as soon as possible, but in no event more than forty-eight