Processing, Transmittal and Settlement by Bank. a. Except as provided in Sections 5 and 6 of this Article III, Bank shall (i) process Entries received from Company to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI to the Federal Reserve Bank (the “ACH Operator”) acting as an ACH processor, and (iii) settle for such Entries as provided in the Rules.
Appears in 4 contracts
Samples: Internet Banking Agreement, Internet Banking Agreement, Internet Banking Agreement
Processing, Transmittal and Settlement by Bank. a. Except as provided in Sections 5 and 6 of this Article IIISection 4, the Bank shall (i) process Entries received from Company the Business Entity in such manner as to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI to the Federal Reserve Bank (the “ACH Operator”) acting as an ACH processor"Fed"), and (iii) settle for such Entries as provided in the Rules.
Appears in 3 contracts
Samples: Treasury Management Master Agreement, Treasury Management Master Agreement, Treasury Management Master Agreement
Processing, Transmittal and Settlement by Bank. a. Except as provided in Sections 5 and 6 of this Article IIISection 4, the Bank shall (i) process Entries received from Company the Customer to conform with the file specifications set forth in the Rules, (ii) transmit such Entries as an ODFI Originating Depository Financial Institution to the Federal Reserve Bank (the “"ACH Operator”) acting as an ACH processor"), and (iii) settle for such Entries as provided in the Rules.
Appears in 2 contracts
Samples: Management Services Agreement, Management Services Agreement
