Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Date, Seller shall deactivate all ATM/Debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate the ATMs not later than 8:00 a.m. on the day after the Closing Date. Point of sale transactions shall be settled between Purchaser and Seller for a period of forty-five (45) days after the Closing Date.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (People's Utah Bancorp), Purchase and Assumption Agreement (Independent Bank Corp /Mi/)
Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Date, Seller Sellers shall deactivate all ATM/Debit debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate accounts effective as of the ATMs not later than 8:00 a.m. close of business on the day after the Closing Conversion Date. Point of Point-of-sale transactions shall be settled between Purchaser and Seller Sellers for a period of forty-five (45) days after the Closing Conversion Date.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (Cib Marine Bancshares Inc), Purchase and Assumption Agreement (1st United Bancorp, Inc.)
Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Date, Seller shall deactivate all ATMautomated teller machine/Debit debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate the ATMs not later than 8:00 a.m. 3:00 p.m. Eastern Time on the day after the Closing Date. Point of Point-of-sale transactions shall be settled between Purchaser and Seller for a period of forty-five (45) days after the Closing DateDate through the Residual Processing Account.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Community Bank System Inc)
Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Transfer Date, Seller shall deactivate all ATM/Debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate the ATMs not later than 8:00 a.m. on the day after the Closing Transfer Date. Point of sale transactions shall be settled between Purchaser and Seller for a period of forty-five (45) days after the Closing Date.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Enterprise Bancorp Inc /Ma/)
Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Transfer Date, Seller Sellers shall deactivate all ATM/Debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate the ATMs not later than 8:00 a.m. on the day after the Closing Transfer Date. Point of sale transactions shall be settled between Purchaser and Seller Sellers for a period of forty-five (45) days after the Closing Date.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Independent Bank Corp)
Deactivation of ATMs and ATM/Debit Cards. On the day after the Closing Transfer Date, Seller Sellers shall deactivate all ATM/Debit cards issued with respect to all Deposit Liability accounts and shall electronically block access of those cards to the Deposit Liability accounts, and shall deactivate the ATMs not later than 8:00 a.m. on the day after the Closing Transfer Date. Point of sale transactions shall be settled between Purchaser and Seller Sellers for a period of forty-forty- five (45) days after the Closing Date.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)
