Common use of ATM Access/Debit Cards; POS Cards Clause in Contracts

ATM Access/Debit Cards; POS Cards. Seller will provide Purchaser with a list of ATM access/debit cards and Point-of-Sale (“POS”) cards issued by Seller to depositors of any Deposit Liabilities, and a record thereof in a format reasonably agreed to by the parties containing all addresses therefor and all related information required to support an automated conversion, as soon as practicable and in no event later than forty-five (45) calendar days after execution of this Agreement. At or promptly after the Closing, Seller will provide Purchaser with a revised record through the Closing. In instances where a depositor of a Deposit Liability made an assertion of error regarding an account pursuant to the Electronic Funds Transfer Act and Federal Reserve Board Regulation E, and Seller, prior to the Closing, recredited the disputed amount to the relevant account during the conduct of the error investigation, Purchaser agrees to comply with a written request from Seller to debit such account in a stated amount and remit such amount to Seller, to the extent of the balance of funds available in the accounts. Subject to ARTICLE IX hereof, Seller agrees to indemnify Purchaser for any claims or Losses that Purchaser may incur as a result of complying with such request from Seller. At or promptly after Closing, Seller will transfer to Purchaser all active BINs and provide to Purchaser all available data relating to ATM access/debit cards and POS Cards in standard deconversion files. Purchaser and Seller agree to settle any and all ATM transactions and POS transactions effected on or before the Effective Time, but processed after the Effective Time, as soon as practicable. Seller shall destroy any unused card stock.

ATM Access/Debit Cards; POS Cards. Seller will provide Purchaser with a list of ATM access/debit cards and Point-of-Sale (“POS”) cards issued by Seller to depositors of any Deposit Liabilities, and a record thereof in a format reasonably agreed to by the parties containing all addresses therefor and all related information required to support an automated conversion, as soon as practicable and in no event later than forty-five (45) calendar days after execution of this Agreement. At or promptly after the Closing, Seller will provide Purchaser with a revised record through the Closing. In instances where a depositor of a Deposit Liability made an assertion of error regarding an account pursuant to the Electronic Funds Transfer Act and Federal Reserve Board Regulation E, and Seller, prior to the Closing, recredited the disputed amount to the relevant account during the conduct of the error investigation, Purchaser agrees to comply with a written request from Seller to debit such account in a stated amount and remit such amount to Seller, to the extent of the balance of funds available in the accounts. Subject to ARTICLE IX hereof, Seller agrees to indemnify Purchaser for any claims or Losses that Purchaser may incur as a result of complying with such request from Seller. At or promptly after Closing, Seller will transfer to Purchaser all active BINs and provide to Purchaser all available data relating to ATM access/debit cards and POS Cards in standard deconversion files. Purchaser shall reissue ATM access/debit cards to depositors of any Deposit Liability prior to the Effective Time and such cards shall be effective as of the Effective Time. Purchaser and Seller agree to settle any and all ATM transactions and POS transactions effected on or before the Effective Time, but processed after the Effective Time, as soon as practicable. In addition, Seller shall destroy any unused card stockassumes responsibility for and agrees to pay on presentation all POS transactions initiated after the Closing with POS cards issued by the Failed Bank or Seller to access transaction accounts.