Nacha Distinction Sample Clauses
Nacha Distinction. Capitalized terms in this paragraph not otherwise defined in this Agreement have the meaning defined in the Nacha Operating Rules. It is understood and agreed between the parties that Servicer shall act as Bank’s Third-Party Service Provider and not as a Third-Party Sender. Bank shall, at all times, maintain agreements with all Originating Depository Financial Institutions that it utilizes for ACH transfers. Servicer shall not provide ACH services to any entity other than Bread Financial Holdings, Inc. and its subsidiary companies, as may be modified from time to time.
Nacha Distinction. It is understood and agreed between the parties that Servicer shall act as Bank’s Third Party Service Provider (as defined in NACHA Operating Rule 8.113) and not as a Third Party Sender (as defined in NACHA Operating Rule 8.112). Bank shall at all times maintain agreements with all Originating Depository Financial Institutions that it utilizes for ACH transfers. Servicer shall not provide ACH services to any entity other than Bread Financial Holdings, Inc. and its subsidiary companies, as may be modified from time to time.