Common use of Direct Debits Clause in Contracts

Direct Debits. As soon as practicable after execution of this Agreement and after the notice provided in Section 4.2(a), Purchaser will 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 agreed to by the parties. For a period of three (3) months following the Closing, Seller shall transfer to Purchaser all received direct debits on accounts constituting Deposits at 9:00 a.m. Central Standard Time each Business Day. Such transfers shall contain Direct Debits effective for that Business Day only. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked "Account Closed." 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 will provide ACH originators of such Direct Debits with account numbers relating to the Deposits.

Direct Debits. As soon as practicable after execution of this Agreement and after the notice provided in Section 4.2(a), Purchaser will 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. For a period of three ninety (390) months calendar days following the Closing, Seller shall transfer to Purchaser all received direct debits on accounts constituting Deposits at 9:00 a.m. Central Standard Time a.m., Eastern time, each Business Day. Such transfers shall contain Direct Debits effective for that Business Day only. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked "“Account Closed." ” 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 Beginning on the Closing Date, Purchaser will shall provide ACH originators of such Direct Debits with account numbers relating to the Deposits.

Direct Debits. As soon as practicable after execution of this Agreement and after the notice provided in Section 4.2(a), Purchaser will shall send appropriate notice to all customers having accounts constituting Deposits 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 partiesparties hereto. For a period of three (3) months following the Closing, Seller shall transfer to Purchaser all received direct debits on accounts constituting Deposits at 9:00 a.m. Central Standard Time each Business Day. Such transfers shall contain Direct Debits effective for that Business Day only. Thereafter, Seller may discontinue forwarding such entries and return them to the originators marked "Account Closed." 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 will shall provide ACH originators of such Direct Debits with account numbers relating to the Deposits.

Direct Debits. As soon as practicable after execution of this Agreement and after the notice provided in Section 4.2(a), Purchaser will shall send appropriate notice to all customers having accounts constituting Deposits 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 Republic Bank to Purchaser. Such notice shall be in a form reasonably agreed to by the partiesparties hereto. For a period of three (3) months following the Closing, Seller Republic Bank shall transfer to Purchaser all received direct debits on accounts constituting Deposits at 9:00 a.m. Central Eastern Standard Time each Business Day. Such transfers shall contain Direct Debits effective for that Business Day only. Thereafter, Seller Republic Bank may discontinue forwarding such entries and return them to the originators marked "“Account Closed." ” Purchaser and Seller shall agree on a reasonable period of time prior to the Closing during which Seller Republic Bank will no longer be obligated to accept new direct debit arrangements related to the Branches. On the Closing Date, Purchaser will shall provide ACH originators of such Direct Debits with account numbers relating to the Deposits.