Common use of Automated Clearing House Credit and Debits Clause in Contracts

Automated Clearing House Credit and Debits. Immediately after the Closing Date, Purchaser will send an appropriate "Notification of Change" to all originators indicating the new routing/transit number and account number for each of the Accounts receiving Automated Clearing House ("ACH") credits and debits. On the Closing Date, and on each Business Day during the 90 day period following the Closing Date, Seller will deliver to Purchaser an ACH transaction file in NACHA format or a paper listing of all such credit and debit records which Seller, in the exercise of its reasonable efforts, is able to identify. Seller shall provide this information to Purchaser each Business Day as soon as practicable, but no later than 6:30 A.M. Central Time for same day settlement transactions, and no later than 11:00 P.M. Central Time for next day settlement transactions. Seller shall credit and debit the Correspondent Account for the total debit and total credit transactions provided. Purchaser will be responsible for crediting and debiting customers with all ACH transactions in the Accounts. No later than ninety days after the Closing Date, Seller will discontinue accepting and forwarding ACH transactions to the Purchaser. Transactions will be returned to the originators marked "Branch Sold to Another DFI," with the code R12 included as the reason for the return. Purchaser agrees to complete and obtain Federal Reserve acceptance of the ACH Federal Reserve Agreement prior to the Closing Date. All returns received by Seller for ACH transactions processed before the Closing Date for Accounts owned by the Purchaser after the Closing Date will be provided to Purchaser as received for appropriate posting to the Accounts. Simultaneously, Seller will credit or debit the Correspondent Account as appropriate. Purchaser shall notify Seller of any ACH Returns which it initiates on any Business Day after the Closing with respect to the Accounts. Seller will make appropriate entries to the Correspondent Account. Seller agrees to provide Purchaser with information on any ACH originators who are currently settling to Accounts that Purchaser will own subsequent to the Closing Date. Purchaser shall establish alternative arrangements with such ACH originators and shall cause such arrangements to be effective as of the Closing Date. Seller will not accept transactions from these ACH originators after Closing Date.

Automated Clearing House Credit and Debits. Immediately after the Closing Date, Purchaser will send an appropriate "“Notification of Change" ” to all originators indicating the new routing/transit number and account number for each of the Accounts receiving Automated Clearing House ("“ACH"”) credits and debits. On the Closing Date, and on each Business Day during the 90 ninety (90) day period following the Closing Date, Seller will deliver to Purchaser Purchaser, at Seller’s cost and expense, an electronic ACH transaction file in NACHA format or a paper listing of for all such credit and debit records ACH receiving transactions which Seller, in the exercise of its reasonable efforts, Seller is able to identify. Seller shall provide this information to Purchaser each Business Day as soon as practicable, but no later than 6:30 A.M. Central Time for taking into consideration whether or not the transaction is a same day settlement transactions, and no later than 11:00 P.M. Central Time for transaction or a next day settlement transactionstransaction. Seller shall credit and debit the Correspondent Account for the total debit and total credit transactions provided. Purchaser will be responsible for crediting and debiting customers with all ACH transactions in the Accounts. No later than ninety (90) calendar days after the Closing Date, Seller will discontinue accepting and forwarding ACH transactions to the Purchaser. Transactions will be returned to the originators marked "Branch Sold to Another DFI," with the code R12 included as the reason for the return. “Account Closed.” Purchaser agrees to complete and obtain Federal Reserve acceptance of the ACH Federal Reserve Agreement prior to the Closing Date. All returns received by Seller for ACH transactions processed before the Closing Date for Accounts owned by the Purchaser after the Closing Date will be provided to Purchaser as received for appropriate posting to the Accounts. Simultaneously, Seller will credit or debit the Correspondent Account as appropriate. After the Closing Date, Purchaser shall notify Seller of be solely responsible for any ACH Returns and any additional ongoing notices of change which it Purchaser initiates on any Business Day after the Closing with respect to the Accounts. Seller will make appropriate entries to the Correspondent Account. Seller agrees to provide Purchaser with information on any ACH originators who are currently settling to Accounts that Purchaser will own subsequent to the Closing Date. Purchaser shall establish alternative arrangements with such ACH originators and shall cause such arrangements to be effective as of the Closing Date. Seller will not accept transactions from these ACH originators after Closing Date.

Automated Clearing House Credit and Debits. Immediately after the Closing Date, Purchaser will send an appropriate "Notification of Change" to all originators indicating the new routing/transit number and account number for each of the Accounts receiving Automated Clearing House ("ACH") credits and debits. On the Closing Date, and on each Business Day during the 90 day period following the Closing Date, Seller will deliver to Purchaser an ACH transaction file in NACHA format or a paper listing of all such credit and debit records which Seller, in the exercise of its reasonable efforts, is able to identify. Seller shall provide this information to Purchaser each Business Day as soon as practicable, but no later than 6:30 A.M. Central Time for taking into consideration whether or not the transaction is a same day settlement transactions, and no later than 11:00 P.M. Central Time for transaction or a next day settlement transactionstransaction. Seller shall credit and debit the Correspondent Account for the total debit and total credit transactions provided. Purchaser will be responsible for crediting and debiting customers with all ACH transactions in the Accounts. No later than ninety (90) calendar days after the Closing Date, Seller will discontinue accepting and forwarding ACH transactions to the Purchaser. Transactions will be returned to the originators marked "Branch Sold to Another DFI,." with the code R12 included as the reason for the return. Purchaser agrees to complete and obtain Federal Reserve acceptance of the ACH Federal Reserve Agreement prior to the Closing Date. All returns received by Seller for ACH transactions processed before the Closing Date for Accounts owned by the Purchaser after the Closing Date will be provided to Purchaser as received for appropriate posting to the Accounts. Simultaneously, Seller will credit or debit the Correspondent Account as appropriate. Purchaser shall promptly notify Seller of any ACH Returns which it initiates on any Business Day after the Closing with respect to the Accounts. Seller will make appropriate entries to the Correspondent Account. Seller agrees to provide Purchaser with information on any ACH originators who are currently settling to Accounts that Purchaser will own subsequent to the Closing Date. Purchaser shall establish alternative arrangements with such ACH originators and shall cause such arrangements to be effective as of the Closing Date. Seller will not accept transactions from these ACH originators after Closing Date.

Automated Clearing House Credit and Debits. Immediately after the Closing Date, Purchaser will send an appropriate "“Notification of Change" ” to all originators indicating the new routing/transit number and account number for each of the Accounts receiving Automated Clearing House ("“ACH"”) credits and debits. On the Closing Date, and on each Business Day during the 90 ninety (90) day period following the Closing Date, Seller will deliver to Purchaser an ACH transaction file in NACHA format or a paper listing of all such credit and debit records which Seller, in the exercise of its reasonable efforts, is able to identify. Seller shall provide this information to Purchaser each Business Day as soon as practicable, but no later than 6:30 A.M. Central Time for taking into consideration whether or not the transaction is a same day settlement transactions, and no later than 11:00 P.M. Central Time for transaction or a next day settlement transactionstransaction. Seller shall credit and debit the Correspondent Account for the total debit and total credit transactions provided. Purchaser will be responsible for crediting and debiting customers with all ACH transactions in the Accounts. No later than ninety (90) calendar days after the Closing Date, Seller will discontinue accepting and forwarding ACH transactions to the Purchaser. Transactions will be returned to the originators marked "Branch Sold to Another DFI," with the code R12 included as the reason for the return. “Account Closed.” Purchaser agrees to complete and obtain Federal Reserve acceptance of the ACH Federal Reserve Agreement prior to the Closing Date. All returns received by Seller for ACH transactions processed before the Closing Date for Accounts owned by the Purchaser after the Closing Date will be provided to Purchaser as received for appropriate posting to the Accounts. Simultaneously, Seller will credit or debit the Correspondent Account as appropriate. After the Closing Date, Purchaser shall notify Seller of be solely responsible for any ACH Returns which it Purchaser initiates on any Business Day after the Closing with respect to the Accounts. Seller will make appropriate entries to the Correspondent Account. Seller agrees to provide Purchaser with information on any ACH originators who are currently settling to Accounts that Purchaser will own subsequent to the Closing Date. Purchaser shall establish alternative arrangements with such ACH originators and shall cause such arrangements to be effective as of the Closing Date. Seller will not accept transactions from these ACH originators after Closing Date.