Common use of Direct Debits Clause in Contracts

Direct Debits. After the notice provided in Section 4.2(a), Purchaser shall send appropriate notice to all customers having accounts constituting Deposits, the terms of which provide for direct debit of such accounts by third parties, instructing such customers concerning the transfer of customer direct debit authorizations from Seller to Purchaser. Such notice shall be in a form reasonably agreed to by the parties hereto. For a period of three (3) months following the Closing, Seller shall transfer to Purchaser all received direct debits on accounts constituting Deposits each Business Day in accordance with Seller’s customary procedures. Purchaser will send NACHA compliant Notice of Change on each direct debit received. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked “Account Sold.” Purchaser and Seller shall agree on a reasonable period of time prior to the Closing during which Seller will no longer be obligated to accept new direct debit arrangements related to the Branches. On the Closing Date, Purchaser shall provide ACH originators of such Direct Debits with account numbers relating to the Deposits.

Direct Debits. After the notice provided in Section 4.2(a14(c)(1), Purchaser Buyer shall send appropriate notice to all customers having accounts constituting DepositsDeposit Liabilities, the terms of which provide for direct debit of such accounts by third parties, instructing such customers concerning the transfer of customer direct debit authorizations from Seller to PurchaserBuyer. Such notice shall be in a form reasonably agreed to by the parties hereto. For a period of three (3) six months following the Closing, Seller shall transfer to Purchaser Buyer all received direct debits on accounts constituting Deposits Deposit Liabilities each Business Day in accordance with Seller’s customary procedures. Purchaser Buyer will send NACHA compliant Notice of Change on each direct debit received. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked “"Account Sold.” Purchaser " Buyer and Seller shall agree on a reasonable period of time prior to the Closing during which Seller will no longer be obligated to accept new direct debit arrangements related to the Branches. On the Closing Date, Purchaser Buyer shall provide ACH originators of such Direct Debits with account numbers relating to the DepositsDeposit Liabilities.

Direct Debits. After the notice provided in Section 4.2(a16(c)(1), Purchaser Buyer shall send appropriate notice to all customers having accounts constituting DepositsDeposit Liabilities, the terms of which provide for direct debit of such accounts by third parties, instructing such customers concerning the transfer of customer direct debit authorizations from Seller to PurchaserBuyer. Such notice shall be in a form reasonably agreed to by the parties hereto. For a period of three (3) months following the Closing, Seller shall transfer to Purchaser Buyer all received direct debits on accounts constituting Deposits Deposit Liabilities each Business Day in accordance with Seller’s customary procedures. Purchaser Buyer will send NACHA compliant Notice of Change on each direct debit received. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked “Account Sold.” Purchaser Buyer and Seller shall agree on a reasonable period of time prior to the Closing during which Seller will no longer be obligated to accept new direct debit arrangements related to the Branches. On the Closing Date, Purchaser Buyer shall provide ACH originators of such Direct Debits direct debits with account numbers relating to the DepositsDeposit Liabilities.

Direct Debits. After As soon as practicable after the notice provided in Section 4.2(a15(c), Purchaser Buyer shall send appropriate notice to all customers having accounts constituting DepositsDeposit Liabilities, the terms of which provide for direct debit of such accounts by third parties, instructing such customers concerning the transfer of customer direct debit authorizations from Seller to PurchaserBuyer. Such notice shall be in a form reasonably agreed to by the parties hereto. For a period of three (3) months following the Closing, Seller shall transfer to Purchaser Buyer all received direct debits on accounts constituting Deposits Deposit Liabilities each Business Day in accordance with Seller’s customary procedures. Purchaser Buyer will send NACHA compliant Notice of Change on each direct debit received. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked “Account Sold.” Purchaser Buyer and Seller shall agree on a reasonable period of time prior to the Closing during which Seller will no longer be obligated to accept new direct debit arrangements related to the Branches. On the Closing Date, Purchaser Buyer shall provide ACH originators of such Direct Debits direct debits with account numbers relating to the DepositsDeposit Liabilities.