Data Processing Conversion. The Parties agree to (i) insure the orderly transfer of all data tapes and processing information, and will facilitate an electronic and systematic conversion of all applicable data regarding Account Loans, ATM Cards and Deposits whereby each Party will bear the cost associated with the transfer of its tapes and information and the conversion of its data except as otherwise agreed upon; (ii) at the Field-to-Field meeting, exchange all data information necessary to complete such conversion process; (iii) within ten (10) days after the Field-to-Field meeting, Seller shall provide all systems information necessary to complete such conversion processing and provide two (2) sets of the initial data processing pre-conversion file layout and product definitions; (iv) provide the final data processing pre-conversion file packages on a timely basis allowing for pre-conversion; (v) provide any and all additional data processing information added to the system subsequent to the preparation of the final reconversion tapes on a day-to-day basis; and (vi) use commercially reasonable efforts to provide by 12:00 p.m., on the day immediately following the Closing Date, two (2) sets of final data processing conversion file packages. Immediately prior to or at the date of conversion of the data processing information at the Branch, Seller shall (i) deconvert accounts and block any further activity with respect thereto, (ii) cycle all accounts, and (iii) prepare and send out account statements (and provide microfiche, if available, to Buyer) dated as of the conversion date to all account holders.
Data Processing Conversion. Unless the parties agree pursuant to Section 14(b) that the conversion of the data processing with respect to the Branches and the Assets and Liabilities will be performed other than on the weekend immediately following the Closing Date, the Closing Date shall be on a Friday and such conversion will be completed prior to the opening of business on the following Monday. The date upon which the conversion of the data processing shall be referred to in this Agreement as the “Data Processing Conversion Date”.
Data Processing Conversion. Seller and Buyer will, and Seller will cause Target and Target Subsidiaries to, cooperate on the timing and method for converting the data processing requirements (including BSA) of Target to the data processing system of Buyer in conjunction with the Closing Date. At the option and upon request of Buyer, Seller will provide ongoing data processing and operational services and support (including AML, HMDA, OFAC/FinCen and other regulatory compliance and/or reporting) for Target on an interim basis after the Closing Date for a period not to exceed 30 days, except that, with respect to conversion solely related to the banking business of Target, if such conversion cannot be scheduled within such 30-day period, then such period shall be extended for up to an additional 90-day period to allow for the scheduling of such conversion, at a cost equal to that which Seller charges Target for intercompany services as of the date hereof and which represents Seller’s direct costs associated with providing such services.
Data Processing Conversion. From and after the date hereof, IBC and LFC shall meet on a regular basis to discuss and plan for the conversion of LFC’s and its Subsidiaries’ data processing and related electronic informational systems to those used by IBC and its Subsidiaries with the goal of conducting such conversion simultaneously with the consummation of the Bank Merger.
Data Processing Conversion. The Parties agree to (i) insure the orderly transfer of all data tapes and processing information, and will facilitate an electronic and systematic conversion of all applicable data regarding Account Loans, ATM Cards some of which, for the avoidance of doubt, contain card features and Deposits whereby each Party will bear the cost associated with the transfer of its tapes and information and the conversion of its data except as otherwise agreed upon; (ii) at the Field-to-Field Meeting, to be held at a time mutually acceptable to the parties but no later than fifteen (15) days after the Signature Date, exchange all data information necessary to complete such conversion process; (iii) within ten (10) days after the Field-to-Field Meeting, Seller shall provide all systems information necessary to complete such conversion processing and provide two (2) sets of the initial data processing pre-conversion file layout and product definitions; (iv) provide the final data processing pre-conversion file packages on a timely basis allowing for pre-conversion; (v) provide any and all additional data processing information added to the system subsequent to the preparation of the final deconversion tapes on a day-to-day basis; and (vi) use commercially reasonable efforts to provide by 12:00 p.m. Pacific Time, on the day immediately following the Closing Date, two (2) sets of final data processing conversion file packages. Immediately following or at the date of conversion of the data processing information at the Branch, Seller shall (i) deconvert accounts and block any further activity with respect thereto, (ii) cycle all accounts, and (iii) prepare and send out account statements (and provide microfiche, if available, to Buyer) dated as of the conversion date to all account holders.
Data Processing Conversion. Prior to the Effective Date, the parties shall cooperate, and shall make all reasonable efforts to cause their respective data processing service providers to cooperate, to complete all reasonable steps for an orderly transfer of all applicable data tapes and processing information, and to facilitate an electronic and systematic conversion of all applicable data regarding SS Bank to NS Bank's own system of electronic data processing by the next business day following the Effective Date. Each party shall bear its own costs associated with the transfer of tapes and information and the conversion of data. Prior to the Effective Date, SS Bank will provide all test tapes and reports necessary to complete the transfer and will provide a test tape and deconversion reports within fifteen days of the date of this Agreement, a preliminary tape and set of deconversion reports six weeks prior to the Effective Date, and an updated preliminary tape and set of deconversion reports no more than two weeks prior to the Effective Date. SS Bank shall also arrange the delivery to NS Bank at the main office of NS Bank (or at such other location as has been designated in writing by NS Bank no later than five business days before the Effective Date) no later than 6:00 a.m. Pacific time on the day immediately following the Effective Date, two duplicate final data processing conversion file packages and deconversion reports in an industry standard format.
Data Processing Conversion. The Parties shall take commercially reasonable steps to facilitate the orderly transfer of all data tapes and processing information and shall facilitate an electronic and systematic conversion of all applicable data regarding Account Loans, ATM and debit cards and Assumed Liabilities, and each Party will bear the cost associated with the transfer of its tapes and information and the conversion of its data except as otherwise agreed upon. Seller shall pay all accrued interest on interest-bearing accounts (excluding certificates of deposit) which are Assumed Liabilities, send statements on all accounts as required by Regulation DD, and by 10:00 a.m. Pacific Time one (1) calendar day following the Closing Date, provide two sets of final data conversion file tapes. Immediately prior to or at the date of conversion of the data processing information at the Branches, Seller shall deconvert accounts and block any further activity with respect thereto.
Data Processing Conversion. Fiserv, Inc., the provider of data processing services for Purchaser, is prepared to assist in the immediate conversion of the information related to the Deposit, Loan and other Branch information from Seller’s to Purchaser’s data processing system other than the conversion of the Deferred Loans, which will occur on the Deferred Loan Closing Date, or as otherwise agreed by Seller and Purchaser.
Data Processing Conversion. The conversion of the data processing with respect to the Branch and the Assets and the Liabilities to be transferred hereunder will commence on the Closing Date and continue during the night on the Closing Date and the following morning; provided, Seller will reasonably cooperate with Buyer in its reasonable preparations for data processing conversion during the 30 days preceding the Closing Date. The Seller shall make available the required hard copy (printed) reports (and Magnetic Tapes, if applicable) in connection therewith for pick up from the Seller at a location mutually selected by the parties by 6:00 a.m. on such morning, subject to any production problems that are beyond the Seller's reasonable control. In connection with the conversion of the data processing, the Seller and the Buyer shall each cooperate with the other and shall each pay their own costs and expenses associated with the conversion of the data processing and shall bear equally the duties and responsibilities relating to the conversion.
Data Processing Conversion. The parties shall cooperate, under the direction of FPNB in preparing and implementing a plan for conversion and/or coordination of data processing systems and capabilities.
