Back Office Conversion Sample Clauses

Back Office Conversion. During back office processing, an ACH debit is created from a check received at the point of check being tendered or received at a “manned” bill payment location for in-person payments. (Refer to NACHA Rules regarding items eligible for check conversion). ☐ CCD – Corporate Credit or Debit – Either a credit or debit where funds are either distributed or consolidated between corporate entities. May have one addenda record attached (CCD+)

Back Office Conversion. Prior to the Closing Date, the Seller and the Buyer shall cooperate with each other and shall use their reasonable best efforts (consistent with their internal day-to-day operations) to cause the timely transfer of information concerning the Assets and the Liabilities that is maintained on the Seller’s data processing systems so that the Buyer can incorporate such information into the Buyer’s data processing systems no later than the opening of business on the Business Day following the Closing Date. On the Closing Date, the Seller shall: (a) deliver to the Buyer at the Branches such of the Assets as shall be capable of physical delivery; (b) execute, acknowledge, and deliver to the Buyer all such endorsements, assignments, bills of sale, deeds and other instruments of conveyance, assignment and transfer as, in the reasonable judgment of the Buyer, shall be necessary and appropriate to consummate the sale and transfer of the Assets to the Buyer and to vest in the Buyer the legal and equitable title to the Assets, free and clear of all liens and encumbrances, except as otherwise permitted in this Agreement, with all of the foregoing to be in such form as shall be reasonably acceptable to the parties hereto. The Buyer shall be responsible for and shall pay the costs of all title examinations, titling fees, surveys, attorneys’ fees and expenses associated with such title examinations or titling fees, incurred by the Buyer in connection with the transfer of the Assets which are payable or arise as a result of this Agreement or the consummation of the transactions contemplated by this Agreement; (c) assign, transfer, and deliver to the Buyer such of the following records pertaining to the Deposits as exist and are available and maintained in whatever form or medium: (i) orders and contracts including signature cards between the Seller and depositors at the Branches and records of similar character; and (ii) records of account; (d) produce a bank statement for each transferred checking or savings Deposit Account and mail the statement to the customer with a copy provided to the Buyer; and (e) assign, transfer, and deliver to the Buyer the Loan Instruments and related agreements and all credit files and information relating to or evidencing all Loans and Overdraft Protection Loans.

Back Office Conversion. Seller and Buyer shall cooperate with each other and shall use their reasonable best efforts (as consistent with their internal day-to-day operations) in order to cause the timely transfer of information concerning the Assets and Liabilities which is maintained on Sellers data processing systems so that Buyer can incorporate the Deposits and the Loans onto its deposit and loan accounting system no later than the opening of business on the Business Day following the Closing Date. Upon Buyer's reasonable request, Seller also shall provide Buyer from time to time before Closing with proposed detailed record layouts and file descriptions and with computer tapes in Seller's computer format as may be reasonably necessary to conduct test conversions. Within fifteen (15) days after the date of this Agreement, Seller and Buyer shall each designate an appropriate officer to be responsible for the necessary cooperation of the parties and to act as an initial contact for questions and requests for information. Buyer shall bear the expense of conversion, and Seller shall bear the expense of deconversion.

Back Office Conversion. Seller and Buyer shall cooperate with each other and shall use their reasonable best efforts (as consistent with their internal day-to-day operations) in order to cause the timely transfer of information concerning the Assets and Liabilities which is maintained on Seller's data processing systems so that Buyer can incorporate the Deposits and the Cash Reserve Loans onto its deposit and loan accounting system no later than the opening of business on the Business Day following the Closing Date. Upon Buyer's reasonable request, Seller also shall provide Buyer from time to time before Closing with proposed detailed record layouts and file descriptions and with computer tapes in Seller's computer format as may be reasonably necessary to conduct test conversions. Within fifteen (15) days after the date of this Agreement, Seller and Buyer shall each designate an appropriate officer to be responsible for the necessary cooperation of the parties and to act as an initial contact for questions and requests for information.