Common use of Direct Debits Clause in Contracts

Direct Debits. As soon as practicable 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.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (MVB Financial Corp), Purchase and Assumption Agreement (MVB Financial Corp)

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Direct Debits. As soon as practicable after the notice provided in Section 4.2(a7.1(a)(i), Purchaser shall send appropriate notice to all customers having Customers with Deposit accounts constituting Deposits the terms of which provide providing for direct debit of such accounts by third partiesThird Parties, instructing such customers 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 and would require such Customers to re-authorize their direct debits with Purchaser.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (BofI Holding, Inc.)

Direct Debits. As soon as practicable 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 partiesparties hereto.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Marblehead Corp)

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Direct Debits. As soon as practicable 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.to

Appears in 1 contract

Samples: Purchase and Assumption Agreement (CenterState Banks, Inc.)

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