Examples of Requesting Bank in a sentence
Upon the prepayment of all Obligations owing to any Terminated Bank and the termination of such Terminated Bank’s Applicable Tranche Commitments, if any (other than in the case of a Requesting Bank retaining an Applicable Tranche Commitment after such termination), such Terminated Bank shall no longer constitute a “Bank” for purposes hereof.
Only a Requesting Bank or the Reserve Bank can cancel an ACH Exception Use Case.
If a Requesting Bank determines an ACH Exception Use Case was initiated in error, the Requesting Bank must send a cancellation message.
If the Reserve Bank cancels an ACH Exception Use Case, the Reserve Bank will send a cancellation message to the Requesting Bank and to the Responding Bank if the ACH Exception Use Case had previously been sent to them.
After an ACH Exception Use Case is properly initiated and the Reserve Bank has completed all validations, including confirming that both the Requesting Bank and the Responding Bank are Participating Banks, the Reserve Bank will open an ACH Exception Use Case and notify the Responding Bank of the open ACH Exception Use Case.
A message indicated resolution, cancellation, or closure will be sent to the Requesting Bank.
In replying, the Requesting Bank may request additional information from the Responding Bank, but in replying the Requesting Bank is not initiating a new ACH Exception Use case.
If the ACH Exception Use Case is not properly initiated or validated, the Reserve Bank will close the ACH Exception Use Case and send a cancellation message and reason for that cancellation to the Requesting Bank.
When transactional information is being exchanged, the Requesting Bank is required to search its FedACH transactions in the ERS user interface and select the appropriate FedACH entry for that ACH Exception Use Case.
Only a Requesting Bank can resolve an ACH Exception Use Case by sending a message indicating the ACH Exception Use Case is resolved.