Clearing Items Sample Clauses

Clearing Items. During the ninety (90)-day period after the Closing Date, if it is not possible to clear checks and other items drawn on a Deposit account through Buyer’s then current clearing procedures, Seller shall make provisional settlement to the presenting institution and shall forward such checks and other items on such Deposit to Buyer, no later than the next Business Day after receipt thereof, and Buyer shall reimburse Seller for such provisional settlement within one (1) Business Day. Upon the expiration of the ninety (90)-day period, Seller shall cease forwarding checks and other debits against the Deposit accounts and return them to the originators marked “Account Closed.” Upon timely presentation to Buyer, Buyer shall assume all responsibility for such items (except for such items that have not been handled by Seller in accordance with applicable law or regulation), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of items.

Clearing Items. During the ninety (90) day period following the -------------- Closing Date, if it is not possible to clear checks and other items drawn on the Assumed Deposit Accounts through Buyer's then current clearing procedures, Seller will make provisional settlement to the presenting institution and will forward such checks and other items on the Assumed Deposits to Buyer, via courier, at Buyer's expense, no later than the next Business Day after receipt thereof, and Buyer will reimburse Seller for such provisional settlement. Upon the expiration of such ninety (90) day period, Seller shall cease forwarding checks and other debits against Assumed Deposit Accounts and return them to the originators marked "Return for Better Routing". During such ninety (90) day period, Buyer will not be obligated to pay Seller for any item processed. After ninety (90) days from the Closing Date, Buyer will pay Seller $2.50 for each item returned by Seller. Upon timely presentation to Buyer, Buyer will assume all responsibility for such items (except for such items that have not been handled by Seller in accordance with applicable law or regulation, or with ordinary care), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of large items.

Clearing Items. From the Closing Date and for one hundred eighty (180) calendar days thereafter, items drawn on Transaction Accounts assumed by the Buyer may continue to be presented to the Seller. The Seller will make provisional settlement to the presenting institution and will present such items to the Buyer within the Seller's midnight deadline. For the first ninety (90) calendar days following the Closing Date, the Seller shall perform its obligations under the first two sentences of this Section 4.6 at no cost to the Buyer. For the remaining ninety (90) calendar day period, the Buyer shall pay the Seller $0.50 for each item so processed. After one hundred eighty (180) calendar days from the Closing Date, the Seller shall return to the sender any items presented. Upon timely presentation to the Buyer, the Buyer will assume all responsibility for such items (except for such items which have not been handled by the Seller in accordance with applicable law or regulation, or with ordinary care), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of large items.

Clearing Items. (a) During the ninety (90) day period following the Closing Date, if any checks, drafts, or other debit items (including automated clearing house or other automatic or preauthorized drafts or payment orders) on a Deposit account are presented to or received by Seller through the banking system, Seller will make provisional settlement to the presenting institution for any such debit item and will forward such checks and other items on such Deposit to Buyer no later than the next Banking Day after receipt thereof, and Buyer will reimburse Seller for such provisional settlement within three (3) Banking Days. Upon timely presentation to Buyer, Buyer will assume all responsibility for such items (except for such items that have not been handled by Seller in accordance with applicable law or regulation or with ordinary care), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of items. (b) Seller will use reasonable efforts to transfer to Buyer on the Closing Date all of those automated clearing house and FedWire direct deposit arrangements that are tied by agreement or other standing arrangement to the Deposits. However, during the ninety (90) day period following the Closing Date, if any automated clearing house or other automatic credits or deposits to a Deposit account are received by Seller through the banking system, Seller shall accept any such credit item and pay the amount thereof to Buyer no later than the next Banking Day. (c) Seller shall provide to Buyer each day an electronic listing of all debit and credit items received and settled for that day as described above, and Seller and Buyer shall cooperate to establish reasonable procedures for content and transmittal of those daily listings and for payments to each other of amounts due under this Section 2.11. (d) Upon the expiration of such ninety (90) day period, Seller may cease forwarding to Buyer checks and other debit items against the Deposit accounts and return them to the originators marked “Account Closed” and may cease accepting any such credit items. However, during the ninety (90) day period, Seller and Buyer agree to cooperate to communicate with Customers and automated clearing house originators in an effort to avoid the continuing presentment of debit and credit items to Seller and to establish reasonable procedures for the handling of any such debit or credit items following the ninety (90) day period in...

Clearing Items. From the Closing Date and for ninety (90) calendar days thereafter, items drawn on Transaction Accounts assumed by the Buyer may continue to be presented to the Seller. The Seller will make provisional settlement to the presenting institution and will forward such items to the Buyer, via courier, at Buyer's expense, no later then the next Business Day after receipt thereof, and the Buyer will reimburse the Seller for such provisional settlement. For the first ninety (90) calendar days following the Closing Date, the Seller shall perform its obligations under the first two sentences of this Section 4.6 at no cost to the Buyer. After ninety (90) calendar days from the Closing Date, the Buyer will pay the Seller $10.00 for each item processed by the Seller. Upon timely presentation to the Buyer, the Buyer will assume all responsibility for such items (except for such items which have not been handled by the Seller in accordance with applicable law or regulation, or with ordinary care), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of large items.

Clearing Items. During the 90-day period following the date of Closing, if it is not possible to clear checks and other items drawn on a Deposit account through Purchaser’s then current clearing procedures, Seller will provide on or before Noon of that day, a list of all items presented and the amount thereof. No later than 2:00 p.m. the same day, Purchaser will verbally notify Seller if any of such items should not be paid, and will notify Seller in writing within one business day thereafter of such fact. With respect to any items presented other than those Purchaser notifies Seller should not be paid, Seller will make provisional settlement to the presenting institution and will forward such checks and other items on such Deposit to Purchaser, no later than the next business day after receipt thereof, and Purchaser will reimburse Seller for such provisional settlement. Upon the expiration of such 90-day period, Seller shall cease forwarding checks and other debits against the Deposit accounts and return them to the originators marked “Refer to Maker”. Upon timely presentation to Purchaser, Purchaser will assume all responsibility for such items (except for such items that have not been handled by Seller in accordance with applicable law or regulation, or with ordinary care), including but not limited to determining whether to honor or dishonor such items and giving any required notification for the return of items.