ACH ITEMS AND WIRE TRANSFERS Sample Clauses

ACH ITEMS AND WIRE TRANSFERS. Buyer and Seller shall use commercially reasonable efforts to transfer all ACH arrangements to Buyer as soon as practicable after the Closing Date. Buyer shall continue such ACH arrangements and such recurring debit and credit arrangements as are originated and administered by third parties and for which Buyer need act only as processor; Buyer shall have no obligation to continue recurring debit arrangements that were originated or administered by Seller, and Seller shall terminate such arrangements on or prior to the Closing Date. After the Closing Date, Seller will use commercially reasonable efforts to (i) telecopy or deliver to Buyer on each Business Day after receipt, at the address designated by the Buyer, a summary of ACH Items affecting the Deposits (such summary to include claim number, suffix (if applicable), source name, trace id, client name and effective date); and (ii) remit by wire transfer to Buyer all ACH Item funds that are intended for Deposit accounts being transferred to Buyer; provided, however, that Seller's obligation to deliver such summaries and to forward such ACH Items shall continue for not more than one hundred and twenty (120) days after the Closing Date, unless an extension is agreed upon. Extensions must be agreed upon by Buyer and Seller not less than seven (7) days prior to the end of such period. Thereafter, Seller will return all ACH Items to the originator marked "Account sold to another DFI."
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ACH ITEMS AND WIRE TRANSFERS. Seller and Buyer shall use commercially reasonable efforts to transfer all ACH arrangements to Buyer as soon as practicable after the Closing Date. Buyer shall continue such ACH arrangements and such recurring debit and credit arrangements. After the Closing Date, Seller shall use commercially reasonable efforts to (a) telecopy or deliver to Buyer on each Business Day after receipt, at the address designated by Buyer, a summary of ACH Items affecting the Assumed Liabilities (such summary to include claim number, suffix (if applicable), source name, trace ID, client name and effective date), and (b) remit by wire transfer to Buyer all ACH Item funds that are intended for
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Related to ACH ITEMS AND WIRE TRANSFERS

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  • Wire Transfer Eligibility Section 11.24

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