Conversion of Accounts. In the event that this Agreement is terminated for any reason, Broker shall arrange for the conversion of Broker's and its customer accounts to another clearing broker or to Broker if it becomes self-clearing. Broker shall give Pershing notice (the "Conversion Notice") of (i) the name of the broker that will assume responsibility for clearing services for Customers and Broker, (ii) the date on which such broker will commence providing such services, (iii) Broker's undertaking, in form and substance satisfactory to Pershing, that Broker's agreement with such broker provides that such broker will accept on conversion all Broker and customers accounts then maintained by Pershing, and (iv) the name of an individual or individuals within new clearing broker's organization whom Pershing may contact to coordinate the conversion. The Conversion Notice shall accompany Broker's notice of termination given pursuant to this paragraph. If Broker fails to give Conversion Notice to Pershing, Pershing may give to Broker's customers such notice as Pershing deems appropriate of the termination of this Agreement and may make such arrangements as Pershing deems appropriate for transfer or delivery of customer and Broker accounts. The expense of providing such notice and making such arrangements shall be charged to Broker.
Conversion of Accounts. In the event that this Agreement is terminated for any reason, it shall be Correspondent’s responsibility to arrange for the conversion or ACAT (at Apex’s discretion) of Correspondent Accounts to another clearing broker within [***] days of the termination of this Agreement. Correspondent will give Apex written notice (the “Conversion Notice”) of:
(i) the name of the broker that will assume responsibility for clearing services for Correspondent;
(ii) the date on which such broker will commence providing such services;
(iii) Correspondent’s undertaking, in form and substance satisfactory to Apex, that Correspondent’s agreement with such broker provides that such broker will accept on conversion or ACAT all Accounts, then maintained by Apex; and
(iv) the name of an individual within that organization who Apex can contact to coordinate the conversion or ACAT. The Conversion Notice shall accompany Correspondent’s notice of termination given pursuant to Section 12(a) or within [***] days of the occurrence of an event specified in Section 12(c). If Correspondent fails to give the Conversion Notice to Apex, Apex may give to Correspondent such notice as Apex deems appropriate of the termination of this Agreement and may make such arrangements as Apex deems appropriate for transfer or delivery of Correspondent Accounts and the costs and expenses of making such arrangements shall be charged to Correspondent. Correspondent will pay to Apex all deconversion charges and reimburse Apex for deconversion expenses (including, without limitation ACAT charges, file charges, programming expenses and processing expenses). To the extent Correspondent Accounts continue to remain after deconversion, Apex will impose a monthly minimum charge and a per account charge.
Conversion of Accounts. In the event that this Agreement is terminated for any reason, it shall be Correspondent's responsibility to arrange for the conversion of Correspondent and Customer Accounts to another clearing broker. Correspondent will give Pensxx xxxice (the "Conversion Notice") of:
(i) the name of the broker that will assume responsibility for clearing services for Customers and Correspondent;
(ii) the date on which such broker will commence providing such services;
(iii) Correspondent's undertaking, in form and substance satisfactory to Pensxx, xxat Correspondent's agreement with such broker provides that such broker will accept on conversion all Correspondent and Customer Accounts, then maintained by Pensxx; xxd
(iv) the name of an individual within that organization who Pensxx xxx contact to coordinate the conversion. The Conversion Notice shall accompany Correspondent's notice of termination given pursuant to Section 12(a) or within thirty (30) days of the occurrence of an event specified in Section 12(c). If Correspondent fails to give the Conversion Notice to Pensxx, Xxxxxx xxx give to Customers such notice as Penson deems appropriate of the termination of this Agreement and may make such arrangements as Penson deems appropriate for transfer or delivery of Customer and Correspondent Accounts. In addition, Correspondent shall pay any costs incurred by Pensxx xx billed by any third party vendors such as transfer agents, etc.
Conversion of Accounts. Subject to the dollar limits of Section 5.2 and provided that the Borrower may not convert to or select a new Interest Period for a Libor Account at any time when a Default exists, Borrower may (a) convert a Libor Account on the last day of the applicable Interest Period to a Base Rate Account, (b) convert a Base Rate Account (other than Base Rate Accounts consisting of Swingline Loans) at any time to a Libor Account, and (c) elect a new Interest Period for a Libor Account on the last day of the applicable Interest Period. Any such election may be made by telephonic request to Agent no later than 10:00 a.m. on the third Business Day before the conversion date or the last day of the Interest Period, as the case may be (for conversion to a Libor Account or election of a new Interest Period), and no later than 10:00 a.m. on the last day of the Interest Period (for conversion to a Base Rate Account). Borrower shall provide written notice of any such conversion, in reasonable detail, to Agent no later than two (2) days after the date of the conversion or election. Absent Borrower's telephonic request for conversion or election of a new Interest Period or if a Default exists, then, a Libor Account shall be deemed converted to a Base Rate Account effective when the applicable Interest Period expires.
Conversion of Accounts. In the event that this Agreement is terminated for any reason, Introducing Firm shall arrange for the conversion of its customer accounts to another clearing broker or to Introducing Firm if it becomes self-clearing. Introducing Firm shall give Clearing Agent Notice (the “Conversion Notice”) of: (i) the name of the broker that will assume responsibility for clearing services for Customers and Introducing Firm; (ii) the date on which such broker will commence providing such services; (iii) Introducing Firm’s undertaking, in form and substance satisfactory to Clearing Agent, that Introducing Firm’s agreement with such clearing broker provides that such clearing broker will accept on conversion all Introducing Firm and customer accounts then maintained by Clearing Agent; and (iv) the name of an individual or individuals within the new clearing broker’s organization whom Clearing Agent may contact to coordinate the conversion. The Conversion Notice shall accompany Introducing Firm’s notice of termination given pursuant to this Section. If Introducing Firm fails to give Conversion Notice to Clearing Agent, Clearing Agent may notify Introducing Firm’s customers as Clearing Agent deems appropriate of the termination of this Agreement and may make such arrangements as Clearing Agent deems appropriate for transfer or delivery of customer accounts. The expense of notifying those customers and making such arrangements shall be charged to Introducing Firm.
Conversion of Accounts. Upon termination of this Agreement for any reason, it shall be Correspondent’s responsibility to arrange for the conversion of the Accounts to another broker for clearing and/or execution services. Correspondent shall promptly upon termination give Ridge written notice of the name of such other broker, the anticipated date on which it shall commence acting as clearing broker with respect to the Accounts, and the name of the individual(s) within that organization whom Ridge can contact to coordinate the conversion. Correspondent shall also provide Ridge with Correspondent’s written undertaking, in a form acceptable to Ridge, that such other broker shall accept on conversion all Accounts then maintained by Ridge for such Correspondent. If Correspondent fails to provide Ridge with the notice and undertaking referred to above, Ridge may, at the sole expense of Correspondent, give Customers such notice of termination of this Agreement as Ridge deems appropriate and make such other arrangements as Ridge deems appropriate for transfer or delivery of the Accounts. Ridge will provide reasonable assistance to Correspondent in de-converting Accounts from the systems of Ridge. Except as otherwise provided in this Agreement, Correspondent shall promptly pay to Ridge reasonable expenses incurred by Ridge in processing the de-conversion.
Conversion of Accounts. In the event that this Agreement is terminated for any reason other than by a valid termination by GAIN pursuant to Section 14.4, Broker shall arrange for the conversion of Broker’s and its Customers’ accounts to another company that will act as principal counterparty or otherwise provide forex trading services for Broker’s introduced customers, or to Broker if it plans to directly engage in such activities. Both parties shall use all reasonable efforts to help ensure that the transition is’ as seamless and uninterruptive to Customers as possible. Broker shall give GAIN notice (the “Conversion Notice”) of: (i) the name of the company that will assume responsibility for forex services for Customers and Broker; (ii) the expected date on which such company will commence providing such services (which is subject to reasonable changes as the conversion is implemented); (iii) whether SI bulk transfer is being requested (which, if it is, shall be honored by GAIN within a reasonable time period and include a blanket assignment of GAIN’s agreements and other rights with or relating to Customers in form and content reasonably acceptable to Broker); and (iv) the name of an individual or individuals within the new company whom GAIN may contact to coordinate the conversion. With respect to any such conversion, each party shall comply with all applicable Rules, and bear its own cost and expenses relating to the conversion.
Conversion of Accounts. Upon termination of this Agreement for any reason, it shall be Correspondent’s responsibility to arrange for the conversion of the Accounts to another broker for clearing and/or execution services. Correspondent shall promptly upon termination give ICS written notice of the name of such other broker, the anticipated date on which it shall commence acting as clearing broker with respect to the Accounts and the name of an individual within that organization whom ICS can contact to coordinate the conversion. Correspondent shall also provide ICS with Correspondent’s written undertaking, in form and substance satisfactory to ICS, that such other broker shall accept on conversion all Accounts then maintained by ICS. If Correspondent fails to provide ICS with the notice and undertaking referred to above, ICS may, at the sole expense of Correspondent, give Customers such notice of termination of this Agreement as ICS deems appropriate and make such other arrangements as ICS deems appropriate for transfer or delivery of the Accounts. Correspondent shall promptly pay to ICS reasonable expenses incurred by ICS in processing the conversion.
Conversion of Accounts. (i) Seller shall use its reasonable best efforts to cooperate with Purchaser in assuring an orderly transition of ownership of the Assets and responsibility for the Liabilities, including the Deposit Liabilities, assumed by Purchaser pursuant hereto and shall, in particular, cooperate with Purchaser in the conversion of the accounts and records relating to such Assets and Liabilities to Purchaser’s information and data processing systems.
(ii) [Reserved]
(iii) As soon as practicable, but in no event more than 45 days after the date hereof, Seller, at its sole expense, shall provide Purchaser:
(A) applicable product functions and specifications relating to the data processing support required for the Accounts; and
(B) file formats relating to the Accounts and test tapes of the master file back-ups for the demand deposits accounting, time deposits accounting, and savings deposits accounting, in generic form which are machine readable on IBM (or IBM compatible) equipment or which shall be on the nine track 1600 or 6250 BPI EBCIDIC formatted tape.
(C) formatted, detailed reports of Accounts.
(iv) The product functions and specifications, file formats and test tapes described in Subsection (iii)(B) above shall include, without limitation, the following information with respect to all Deposit Accounts affected by ACH transactions:
(A) Seller’s transit routing number(s) applicable to ACH transactions; and
(B) the identifying account numbers of the Accounts that are affected by such transactions.
(v) The materials described in Subsections (iii)(A)-(C) above shall be accompanied by account totals and trial balances.
(vi) In connection with the conversion process, Seller shall provide Purchaser, at Seller’s expense, up to two additional copies of the materials described in Subsections (iii)(A)-(C), in accordance with a mutually agreed delivery schedule.
(vii) Following delivery of the materials described in Subsections (iii) (A)-(C) above, the format of the test tapes, applicable product functions (except normal pricing changes) and specifications shall remain the same through the Closing Date.
(viii) As early as practicable, and no later than 5:00 p.m., on the day immediately following the Closing Date, Seller shall, at its sole expense, deliver to Purchaser at such address as Purchaser may designate, tapes and reports containing all pertinent data and descriptive information relating to the Accounts, which tapes shall constitute Seller’s records maintained as of a...
Conversion of Accounts. (i) Seller will use its reasonable best efforts to cooperate with Purchaser in assuring an orderly transition of ownership of the Assets, including the Acquired Loans, and responsibility for the Assumed Liabilities, including the Deposit Liabilities, assumed by Purchaser pursuant hereto and will, in particular, use its reasonable best efforts to cooperate with Purchaser in the conversion of the accounts and records relating to such Assets and Liabilities to Purchaser’s information and data processing systems; provided, however, that in the event that Purchaser requests electronic or machine readable account information that is not already maintained by Seller in the form requested, Seller will pay one half of all third-party, out-of-pocket expenses actually incurred by Seller for obtaining the information in such form up to a maximum of $10,000, and Purchaser will pay the remainder of such expenses.
(ii) Not later than fifteen (15) days after the date of this Agreement, Seller will provide to Purchaser, in electronic form, depositor information necessary to permit Purchaser to map its conversion of depositor information to its systems.
(iii) As early as practicable, and no later than 5:00 p.m., Eastern Time, on the day immediately following the Closing Date, Seller will, at its sole expense, deliver to Purchaser reports containing all pertinent data and descriptive information relating to the Accounts, which reports will constitute Seller’s records maintained as of and current through the close of business on the Closing Date with respect to the Accounts. If Purchaser desires tapes containing such information, the tapes will be provided at Purchaser’s sole expense.
