Responsibilities of Alloya Clause Samples

Responsibilities of Alloya. Initially, and as needed, Alloya may request and Member will provide additional business or financial information on behalf of the business member.

Responsibilities of Alloya. Alloya shall receive a copy of Member’s ACH File from the ACH Operator. Alloya may also receive return and NOC Entries from Member and transmit to the ACH Operator on behalf of Member. (A) Alloya will receive an information only copy of Member’s ACH File. Alloya will make the details of the Entries within the file available within the ACH System so that Member may automatically create return and notification Entries. (B) Alloya will receive return and/or NOC Entries from Member and forward to the ACH Operator during Alloya’s processing hours as published in Premier View. Alloya shall have no obligation to transmit Entries received after the cutoff time. (1) Alloya is not responsible for the timeliness, authorization, or validity of any Entry. The transmission of Entries by Alloya to the ACH Operator on behalf of the Member will occur only when Member has complied with all formatting and other requirements specified in the ACH Services Agreement.

Responsibilities of Alloya. Alloya shall receive ACH Entries from the ACH Operator on behalf of Member and will forward all Entries to Member. Alloya may also receive return and NOC Entries from Member and transmit to the ACH Operator on behalf of Member. (A) Alloya will process a receipt Entry based on the routing number defined in the ACH entry detail record and is not responsible for any loss or delay resulting from acting on the number, whether the number is consistent with any other designation of the Member on the Entry. Alloya is not responsible for the accuracy of a routing number or the validity or completeness of any Entry. (B) By prior arrangement with Member, Alloya will make ACH Entries available to Member based on Member’s preferences (file format type, file delivery schedule, file delivery location) and Alloya’s distribution time schedule as defined from time to time and listed in documentation made available to Member. Alloya is not responsible for any delays that are caused by the ACH Operator or Internet Service Providers that are beyond the control of Alloya. (C) Alloya will receive return and/or NOC Entries from Member and forward to the ACH Operator during Alloya’s processing hours as published in Premier View. Alloya shall have no obligation to transmit Entries received after the cutoff time. (D) Alloya is not responsible for the timeliness, authorization, or validity of any Entry. The transmission of Entries by Alloya to the ACH Operator on behalf of the Member will occur only when Member has complied with all formatting and other requirements specified in the ACH Services Agreement.

Responsibilities of Alloya. Alloya agrees to do the following: 1. Maintain accounts at Federal Reserve Banks and other depository financial institutions, arrange with depository financial institutions for collection and settlement services, and promptly perform all adjustment and settlement functions required to account for all funds charged or credited to such accounts. 2. Balance control documents, create adjustment forms for any out‐of‐balance conditions, and process Member’s Items. 3. Present Member’s Items into the interbank collection process. Each such presentation, or cancellation or amendment herein, that is carried out through an image exchange system or clearinghouse will be governed by all applicable rules of that image exchange system or clearinghouse (and such rules will be included within the Third‐Party Rules that are referenced in Paragraph I [General] of this Schedule), whether or not either Alloya or Member is a member of that image exchange system or clearinghouse. 4. Notify Member as to the availability of funds represented by Items transmitted to Alloya by Member. Such information as to funds availability will be accessible to Member on Alloya’s on‐line data access system, or by telephone to Alloya’s Member Services area, or on Member’s periodic statements, or by another means selected by Alloya for the communication to Member of information as to funds availability. 5. Returns. After Alloya presents Member’s Items into the interbank collection process, some of Member’s Items may be returned to Alloya from time to time for various reasons, including (as examples, but without limitation) the following: (a) warranty‐breach returns (including poor image quality, ineligibility of the Item, and MICR line matching errors); and (b) misrouted returns (returns that are sent in error to Alloya). Upon receipt of a returned Item or a notice of a returned Item (whether in tangible or image format, or as a Substitute Check), Alloya will either: (i) present the returned Item into the interbank collection process; or (ii) debit Member’s Account with Alloya for the amount of the returned Item and forward the returned Item or an image of the returned Item (accompanied by appropriate information about the returned Item) to Member for further processing by Member.

Responsibilities of Alloya. Alloya shall transmit ACH Entries to the ACH Operator on behalf of Member. Entries received after the cutoff time.

Responsibilities of Alloya. Alloya shall transmit ACH Entries to the ACH Operator on behalf of Member.