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Agmt15 Wells Fargo Bank
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Agmt15 Wells Fargo Bank
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Last modified
8/27/2015 10:18:12 AM
Creation date
8/27/2015 10:16:26 AM
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Template:
Agreement
Contractor Name
Wells Fargo Bank
PROJECT NAME
Banking and Cash Management Services
RMP File Number
304
Date
8/26/2015
MO Ref
15-141
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. {. (. <br /> 18. Warranties: Campany acknowledges that under the ACH Rules, Bank makes certain <br /> warranties with respect to each Entry. Company agrees fo reimburse Bank for any ioss Bank <br /> incurs, including Bank's reasonable atfomeys'fees and legal expenses, as the result of a � <br /> �. breach of a warranty made by Bank in connecESon with any Entry Bank.originates upon the <br /> instructions received from Company, except to the extent that the loss resulted from_Bank's own <br /> gross negligence or intentional misconduct. . <br /> 19. Indemniflcation. Company acknowledges that under the ACH Rules, Bank indemnifies certain <br /> persons. Campany agrees to reimburse Bank for any loss Bank incurs, lnciuding its reasonabie <br /> ' attarneys'fees and legal expenses, as the result of the enfo�cement of any such indemnity, <br /> except to the extent that the loss resulted solefy from Bank's own gross negligence or <br /> intentional m(sconduct. � <br /> 20. Termination. In addition to the termination provisions contained in the Master.Agreement, <br /> � . . Bank may terminate the Services immediately upon natice Eo Cqmpany if Bank determines in its <br /> sole discretion that: (a)the number of retumed debit Entcies originated under this Service <br /> Description is excessive; or(b) Company has breached a warranty provided undar the ACH <br /> Rules or atherwise failed to comply with the ACH Rules. <br /> 24. Survivat. Sections 5, 6, 7, 15, 16, 18, 19, 20, 21 and 22 survive termination of the Services�. � <br /> 22. Desc�iption and Election of Securtty Procedure. The purpose of the Security Procedure is to <br /> verify the authenticity of an Entry or File, nat to detect an erroneous or duplicate Entry or File. <br /> Company shali be responsible for any erroneous or dupllcate Entry or File issued to Bank in <br /> Company's name. ' • . <br /> 22.1. Commercially Reasonable. Company has determined that the Security Procedure � <br /> Company has etected best mee#s Company's requirements.with regard to the size, type <br /> and frequency of the Entries and Files issued by Campany to Bank and that the <br /> Security�Proced�re is commercialiy reasonable. Company refuses to have its Entries <br /> and Files verified by any security�procedure other than the Security Procedure Company � <br /> has elected in this Service Description. <br /> 22:2. Binding Instructions. Company agrees fo be bound by each Entry and File, or request <br /> to cancel or amend an Entry or File,whether or not authorized by Company, that is <br /> . issued in Company's name and accepted by Bank in cornpfiance with the Security <br /> Procedure. <br /> 22.3. Canfldenttality. Company and Bank will preserve the confidentiaiity of the Security <br /> � Procedure, and any passwvrds,codes, security devices and related instructions <br /> provided by Bank. If Company becomes aware of a breach, or suspects that a breach <br /> may occur, it wiil immediafely notify Bank in a manner affording Bank a reasonable <br /> opportunity io act on Company's notification. . <br /> 22.4. . Authorized Person(s). Company will prompfly notify Bank in writing of the identity of <br /> each person authorized to receive information regarding the Security Procedure(each, <br /> an"Authorized P�rson"}and when a person is no longer an Authorized Person,affording <br /> . Bank in each instance a reasonable opporfunity to act on Company's notification. <br /> Company will establish and maintain effective internal procedures to safeguard�against <br /> unauthorized Entries and Files. Company warrants that no individual will be allawed to <br /> initiate an Entry or File without proper supervision and safeguards. <br /> ACH Originatlon Services(TM-1423� <br /> Revlsed 03-15-07 � <br /> • Page 5 of 6 <br />
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