Returned ACH Entry Warning Notices Sample Clauses

Returned ACH Entry Warning Notices. As part of Bank’s ACH Services underwriting process as generally set forth in Section 2 above, Bank routinely monitors Client’s historic ACH Entry return levels and dollar amounts. Under the NACHA Rules, if a Client’s ACH Entry return levels exceed certain parameters, then Bank, as the ODFI, is instructed to take certain actions to mitigate a Client’s unacceptable levels or dollar amounts of ACH Entry returns. Client understands and agrees that in order to protect itself from risks, and to inform its Clients of problems with returned ACH Entries, Bank will inform Client of Client’s excessive ACH Entry return levels or dollar amounts, as determined by Bank in its sole discretion, and Client agrees to take all steps requested by Bank immediately to decrease the levels and/or dollar amounts of Client’s ACH returns. If Client fails to comply with the required actions as outlined by Bank then such failure to comply shall be deemed to be a material violation of this Agreement, and Bank may, in its sole and absolute discretion, immediately terminate ACH Services to Client.
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Returned ACH Entry Warning Notices. As part of Bank’s ACH Service underwriting process as generally set forth in Section 2 above, Bank routinely monitors and submits reports to NACHA regarding Customers’ historic ACH Entry return levels and dollar amounts. Under the NACHA Rules, if an individual Customer’s ACH Entry return levels exceed certain parameters, then Bank, as the ODFI, is instructed to take certain actions to mitigate a Customer’s unacceptable levels or dollar amounts of ACH Entry returns. If Bank does not comply with such requirements in its role as an ODFI, Bank is subject to censure, fines and penalties imposed by NACHA. Customer understands and agrees that in order to protect itself from risks, and to inform its Customers of problems with returned ACH Entries, Bank has implemented an “Excessive ACH Returns Warning Notice and Escalation Procedure,” whereby Bank will inform Customer of Customer’s excessive ACH Entry return levels or dollar amounts, as determined by Bank in its sole discretion, and Customer agrees to take all steps requested by Bank immediately to decrease the levels and/or dollar amounts of Customer’s ACH returns. If Customer fails to comply with the required actions as outlined by Bank in any “Excessive ACH Returns Warning Notice,” then such failure to comply shall be deemed to be a material violation of this Agreement, and Bank may, in its sole and absolute discretion, immediately terminate ACH Service to Customer.
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Returned ACH Entry Warning Notices. Where Bank or NACHA believes the return rate for Client's Entries returned as unauthorized exceeds the normal and acceptable return rate for Client, Bank shall notify Client of such excessive administrative return rate and/or overall return rate. Client, upon request from Bank, will provide the following information: (i) Client's address, telephone number, contact person, principal owner(s) and taxpayer identification number; ii) the name, address, telephone number, contact person, principal owner(s) and Rev. 03/2021 Page 18 of 30 taxpayer identification number of any Third-Party Service Provider acting on behalf of Client with respect to origination of Entries, (iii) a general description of the nature of the business of Client; and (iv) an explanation of the reason(s) for the excessive return rate. The Client will provide this information to Bank within five Business Days after receipt of the request from Bank. As part of Bank’s ACH Services underwriting process, Bank routinely monitors and submits reports to NACHA regarding Clients’ historic ACH Entry return levels and dollar amounts. Under the NACHA Rules, if an individual Client’s ACH Entry return levels exceed certain parameters, then Bank, as the ODFI, is instructed to take certain actions to mitigate a Client’s unacceptable levels or dollar amounts of ACH Entry returns. If Bank does not comply with such requirements in its role as an ODFI, Bank is subject to censure, fines and penalties imposed by NACHA. Client understands and agrees that in order to protect itself from risks, and to inform its Clients of problems with returned ACH Entries, Bank has implemented an “Excessive ACH Returns Warning Notice and Escalation Procedure,” whereby Bank will inform Client of Client’s excessive ACH Entry return levels or dollar amounts, as determined by Bank in its sole discretion, and Client agrees to take all steps requested by Bank immediately to decrease the levels and/or dollar amounts of Client’s ACH returns. If Client fails to comply with the required actions as outlined by Bank in any “Excessive ACH Returns Warning Notice,” then such failure to comply shall be deemed to be a material violation of this Agreement, and Bank may, in its sole and absolute discretion, immediately terminate ACH Services to Client. Client also acknowledges and agrees that it is bound by all of the NACHA Rules and other applicable state and federal laws and regulations regarding error resolution procedures for Receivers (includin...
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Related to Returned ACH Entry Warning Notices

  • Posting Notices Such notice of postings shall contain the following information: Nature of position, qualifications, required knowledge and education, skills, shift, wage or salary rate or range. Such qualifications may not be established in an arbitrary or discriminatory manner.

  • Termination Warning Notice B The Secretary of State may serve a Termination Warning Notice where he considers that:

  • Collection Notices The Program Agent (acting with the consent or at the direction of the Required Committed Investors) is authorized at any time when an Amortization Event exists or a Collection Notice Event has occurred and is continuing, to date and to deliver to the Collection Banks the Collection Notices and thereafter to make transfers and payments from Blocked Accounts and the Collection Account in lieu of Servicer in accordance with Article II of this Agreement. In making any such transfers and payments, the Program Agent shall be entitled to rely on the periodic reports provided by Servicer hereunder and upon notices from any Managing Agent and any Investor with respect to amounts payable to such Managing Agent (or members of its Investor Group) or to such Investor and upon the Program Agent’s records with respect to payments to be made to the Program Agent, any Managing Agent and any Investor and shall be fully protected in acting thereon; provided that if the Program Agent determines in good faith that it does not have sufficient information to determine amounts transferable or payable from Blocked Accounts and the Collection Account hereunder or has conflicting information with respect thereto, the Program Agent shall be entitled, but shall not be required, to transfer such amounts to, or to retain such amounts in, the Collection Account pending its receipt of further information satisfactory to it. Seller hereby transfers to the Program Agent for the benefit of the Investors, effective when the Program Agent delivers any such notice, the exclusive ownership and control of the applicable Blocked Account and control of the applicable Lock-Box. In case any authorized signatory of Seller whose signature appears on a Blocked Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force. Seller hereby authorizes the Program Agent, and agrees that the Program Agent shall be entitled, when an Amortization Event exists or a Collection Notice Event has occurred and is continuing, to (A) endorse Seller’s name on checks and other instruments representing Collections, (B) enforce the Receivables, the related Contracts and the Related Security and (C) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Program Agent rather than Seller.

  • UNION NOTICES Space shall be provided in each Meat Department for the posting of this Agreement and notices of meetings, but same shall not be posted until they have been first called to the attention of the Employer.

  • Sending Notices Any notice required or permitted to be given under this Security Agreement shall be sent in accordance with Section 9.01 of the Credit Agreement.