Bank Drafts Sample Clauses

Bank Drafts. After the Closing Date, Reinsurer shall have all rights of World Service under outstanding bank draft authorizations from policyholders that authorize withdrawal from policyholders' bank accounts to pay premiums on the Transferred Policies, to the extent permitted by the laws of the states in which the affected policyholders reside. World Service will cooperate with Reinsurer after the Closing to effect Reinsurer's ability to utilize or make substitutions for bank draft authorizations existing at the time of Closing, providing executed documentation if appropriate.