Common use of ATM Reconciliation Clause in Contracts

ATM Reconciliation. Elan will reconcile each ATM with the Currency load, residual and withdrawal information within five (5) days of the date of replenishment. In the event of a failure to reconcile, Elan will notify ATM Manager and Carrier. Failure of the ATM Manager to reconcile the ATM by the end of the calendar month in which the failure occurs, the failure to reconcile will be deemed to be a delinquent account. Elan agrees that it shall absorb all cash overages and shortages, absent any negligence or misconduct on the part of ATM Manager or Carrier.