Common use of ACH Origination Clause in Contracts

ACH Origination. ACH origination allows the Company, directly or indirectly, to initiate requests to debit or credit accounts (Entries, as such term is more particularly defined in the Rules described in the ACH Services Agreement) using the Services. Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries, subject to terms and conditions contained in the ACH Services Agreement and the Nacha Operating Rules (the “Rules”). ACH origination requires completion of the ACH Origination Application for the qualification and approval process and the separate ACH Services Agreement.

ACH Origination. ACH origination allows the Company, directly or indirectly, to initiate requests to debit or credit accounts (Entries, as such term is more particularly defined in the Rules described in the ACH Services Agreement) using the Services. Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries, subject to terms and conditions contained in the ACH Services Agreement and the Nacha NACHA Operating Rules (the “Rules”). ACH origination requires completion of the ACH Origination Application for the qualification and approval process and the separate ACH Services Agreement.