Common use of Interest Reporting Clause in Contracts

Interest Reporting. With respect to the reporting requirements of federal and state tax laws, Seller shall report through the Closing Date, and Buyer shall report from the day after the Closing Date through the end of the calendar year, all interest credited to, interest withheld from and early withdrawal penalties charged to Deposits assumed by Buyer pursuant to this Agreement and all interest paid on Loans purchased by Buyer pursuant to this Agreement. Such reports shall be made to the Customers to whose accounts such reports relate and to the applicable federal and state tax and/or regulatory authorities.