Common use of Electronic Fund Transfers Clause in Contracts

Electronic Fund Transfers. You acknowledge receipt of the applicable electronic fund transfer disclosures as provided in your Account Agreement and Disclosure and in the Customer Agreement. Such disclosures are applicable to Automated Clearing House (“ACH”) transactions transmitted from Consumer Accounts using the Xxxx Payment Service. With respect to any ACH transfers transmitted using the Xxxx Payment Service from Business Accounts, you agree (1) that such transactions are governed by the rules of the National Automated Clearing House Association ("NACHA") and appendices to the NACHA rules, as amended from time to time (" Rules"); and (2) that you will comply with the Rules and Applicable Law at all times, as may be changed or amended from time to time. As to all Xxxx Payment Services, you represent and agree that you will comply with, and cooperate with the Bank in its efforts to comply with, Applicable Laws, including, but not limited to regulations promulgated by the Office of Foreign Asset Control ("OFAC") of the United States Treasury Department and laws and regulations relating to financial institution recordkeeping and reporting. You represent and warrant that you are not and shall not violate the OFAC enforced sanctions and that you are not acting on behalf of, or transmitting funds to or from, any party subject to such sanctions.