Requirements and Deadlines Sample Clauses

Requirements and Deadlines i. Bank’s ability to provide the Standard Positive Pay Service and/or Payee Positive Pay Service is dependent upon Client’s delivery of Check Register data, consisting initially of all outstanding checks on the Designated Account(s), if any. The Check Register data shall contain the check issue date, check number, and the dollar amount (as well as the payee, if the Payee Positive Pay Service is used) of each check issued, for each Account covered by the Service (the “Critical Information”) and may be transmitted through Online Banking or other file delivery methods set forth in the Enrollment Form. Bank shall not be liable for mistakes stemming from erroneous Check Register data provided by Client. ii. As additional Client checks are issued, Client must submit supplemental data to update the Check Register data on file at Bank. Such data, with regard to any particular check or checks, shall be delivered to Bank on the day prior to the Check release date. iii. Bank shall match Client’s cumulative Check Register data file with Bank’s own record of checks posted against Client’s Account each day. This match shall occur following each daily posting cycle. iv. Based on the matching process described in Section 2.4.B.iii. above, each Business Day Bank will provide Client with the ability to view all Exception Items via Online Banking. For the Standard Positive Pay Service and/or Payee Positive Pay Service, an “Exception Item” is defined as (1) any check which has posted against Client’s Account where there is no match in the Check Register data file provided to Bank by Client, or (2) any check which has posted against Client’s Account where there are one or more discrepancies between the Check’s issue date, Check number, or dollar amount (or payee, if the Payee Positive Pay Service is used) as compared to the data in the Check Register data file provided to Bank by Client. v. If Client has provided payee name (for Standard Positive Pay Service users) or other non-Critical Information in the Check Register file, that information is considered available for Client’s records only and is not verified by Bank when matching posted checks against Client’s Check Register file. With regard to the Standard Positive Pay Service, Client remains liable for the detection of alterations of payee’s name on all Checks paid against Client’s Account(s). Images of exception checks will be provided via Online Banking. vi. All Exception Items will be available for Client review and d...