Common use of Handling of Certain Items Clause in Contracts

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Seller shall be compensated for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 hereto.

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-then- current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- then-current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )3) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Purchaser and Seller shall will agree upon a reasonable market rate compensation to be compensated paid to Seller for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 heretoDate.

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- then-current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )3) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Seller shall be compensated for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 hereto.

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )3) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Purchaser and Seller shall be compensated for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 hereto.will agree upon a reasonable market rate

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )3) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Seller shall be compensated for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 hereto.its

Handling of Certain Items. (a) As soon as practicable after the Closing Date, Purchaser shall mail to each depositor in respect of a Transaction Account (i) a letter approved by Seller requesting that such depositor promptly cease writing Seller's drafts against such Transaction Account and (ii) new drafts which such depositor may draw upon Purchaser for the purpose of effecting transactions with respect to such Transaction Accounts. The parties hereto shall use their best efforts to develop procedures which cause Seller's drafts against Transaction Accounts which are received after the Closing Date to be cleared through Purchaser's then-current clearing procedures. During the ninety (90) day period after the Closing Date, if it is not possible to clear Transaction Account drafts through Purchaser's then- then-current clearing procedures, Seller shall forward to Purchaser as soon as practicable but in no event more than three (3 )3) Business Days after receipt all Transaction Account drafts drawn against Transaction Accounts. Seller shall have no obligation to pay such forwarded Transaction Account drafts. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding drafts against Transaction Accounts. Purchaser and Seller shall will agree upon a reasonable market rate compensation to be compensated paid to Seller for its processing of the drafts during the ninety (90) day period following the Closing Date in accordance with Schedule 4.11 heretoDate.