Common use of Statement of Service Clause in Contracts

Statement of Service. Subject to the terms and conditions of this Agreement, Bank shall provide Customer a Service that collects, converts and consolidates online xxxx payments made to Customer by participating Payment Originators into an electronic file (the “E-File”) formatted to meet Customer’s accounts-receivable system requirements. The Bank will transmit the E-File to Customer each Business Day allowing Customer to electronically process its xxxx pay receivables and post them directly into Customer’s accounting system in accordance with the specifications provided to Bank as selected by Customer on the Enrollment Request for Xxxx Pay Direct Post Services and deposit payments into Customer’s designated Account(s).

Statement of Service. Subject to the terms and conditions of this Agreement, Bank shall provide Customer a Service that collects, converts and consolidates online xxxx bill payments made to Customer by participating Payment Originators into an electronic file (the “E-File”) formatted to meet Customer’s accounts-receivable system requirements. The Bank will transmit the E-File to Customer each Business Day allowing Customer to electronically process its xxxx bill pay receivables and post them directly into Customer’s accounting system in accordance with the specifications provided to Bank as selected by Customer on the Enrollment Request for Xxxx Bill Pay Direct Post Services and deposit payments into Customer’s designated Account(s).