Common use of ACH Clause in Contracts

ACH. Prior to the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 120-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Gold Banc Corp Inc)

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ACH. Prior to As soon as practicable following the Closing Date, Seller the Purchaser will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions Branches Purchase transaction contemplated by this Agreement. For a period of one hundred twenty (120) 60 days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer Purchaser for honoring such items, and will use its best efforts to transmit to Buyer Purchaser via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 12060-day period may be returned to the presenting party. Seller and Buyer Purchaser shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer Purchaser of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase Agreement (Premier Financial Bancorp Inc)

ACH. Prior to the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, or other electronic form, by 10:00 a.m. or as soon as practicable thereafter, each day's ’s ACH data that is to be posted that day. Items mistakenly routed or presented after the 120-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Harrington West Financial Group Inc/Ca)

ACH. Prior to the Closing Date, Seller Buyer will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ’s ACH data that is to be posted that day. Items mistakenly routed or presented after the 120-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Gold Banc Corp Inc)

ACH. Prior to As soon as practicable following the Closing Date, ------------ --- Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) 90 days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 12090-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (First Southern Bancshares Inc/De)

ACH. Prior to the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the Deposit Liability accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty sixty (12060) days beginning on the Closing Date, Seller will honor all ACH items related to Deposit Liability accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer Purchaser for honoring such items, and will use its reasonable best efforts to transmit to Buyer Purchaser via facsimilea mutually agreed upon medium, by 10:00 a.m. or as soon as reasonably practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 12060-day period may be returned to the presenting party. Seller and Buyer Purchaser shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer Purchaser of any ACH items honored by Seller.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Independent Bank Corp /Mi/)

ACH. Prior to As soon as practicable following the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) 90 days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its commercially reasonable best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ’s ACH data that is to be posted that day. Items mistakenly routed or presented after the 12090-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Citizens First Corp)

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ACH. Prior to As soon as practicable following the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) 90 calendar days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its commercially reasonable best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ’s ACH data that is to be posted that day. Items mistakenly routed or presented after the 12090-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Your Community Bankshares, Inc.)

ACH. Prior to As soon as practicable following the Closing Date, Seller the Purchaser will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) 60 days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer Purchaser for honoring such items, and will use its best efforts to transmit to Buyer Purchaser via facsimile, by 10:00 a.m. each day or as soon as practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 12060-day period may be returned to the presenting party. Seller and Buyer Purchaser shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer Purchaser of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase Agreement (United Community Bancorp)

ACH. Prior to As soon as practicable following the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty (120) 90 days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ACH data that is to be posted that day. Items mistakenly routed or presented after the 12090-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Jacksonville Bancorp Inc)

ACH. Prior to the Closing Date, Seller will notify all Automated Clearing House ("ACH") originators effecting debits or credits to the accounts of the Deposit Liabilities of the purchase and assumption transactions contemplated by this Agreement. For a period of one hundred twenty sixty (12060) days beginning on the Closing Date, Seller will honor all ACH items related to accounts of Deposit Liabilities which are mistakenly routed or presented to Seller. Seller will make no charge to Buyer for honoring such items, and will use its best efforts to transmit to Buyer via facsimile, by 10:00 a.m. or as soon as practicable thereafter, each day's ’s ACH data that is to be posted that day. Items mistakenly routed or presented after the 120-day period may be returned to the presenting party. Seller and Buyer shall make arrangements to provide for the daily settlement through the Clearing Account with immediately available funds by Buyer of any ACH items honored by Seller.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Gold Banc Corp Inc)

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