Payment of Items After the Closing Date. Following the Closing Date:
Payment of Items After the Closing Date. Following the Closing Date.
Payment of Items After the Closing Date. (a) Following the Closing Date, the Purchaser agrees to pay in accordance with applicable law and customary banking practices all properly drawn and presented checks, drafts and withdrawal orders presented to the Purchaser by mail, over the counter or through the check clearing system of the banking industry by depositors related to the Deposit Liabilities, whether drawn on the checks, withdrawal or draft forms provided by the Seller or by the Purchaser, and in all other respects to discharge, in the usual course of the banking business, the duties and obligations of the Seller with respect to the balances due and owing to the depositors with respect to whom the Purchaser has assumed the Deposit Liabilities. The Purchaser's obligations hereunder to honor checks, drafts and withdrawal orders on forms provided by Seller and carrying Seller's imprint (including name and transit routing number) shall not apply to any such check, draft or withdrawal order presented to the Purchaser more than sixty (60) days following the Closing Date.
Payment of Items After the Closing Date. Buyer shall: (i) pay in accordance with Law and customary banking practices and applicable Deposit Account contract terms, all properly drawn and presented checks, negotiable orders of withdrawal, drafts, debits and withdrawal orders presented to Buyer by mail, over the counter, through electronic media or through the check clearing system of the banking industry, by depositors of the Deposit Accounts assumed by Buyer hereunder, whether drawn on checks, negotiable orders of withdrawal, drafts or withdrawal order forms provided by Buyer or Seller; and (ii) discharge, in the usual course of the banking business, the duties and obligations of Seller with respect to the balances due and owing to the depositors whose Deposit Accounts are assumed by Buyer hereunder; provided, however, that any obligations of Buyer pursuant to this Section 9.1 to honor checks, negotiable orders of withdrawal, drafts and withdrawal orders on forms provided by Seller and carrying its imprint (including its name and transit routing number) shall not apply to any checks, drafts, withdrawal orders or returned items (A) presented to Buyer more than sixty (60) days after the Closing Date or (B) on which a stop payment has been requested by the deposit customer. Seller shall submit and file any required reports on IRS Forms 945, 1098 and 1099, as well as all other informational tax reports with respect to interest paid on Deposit Liabilities for the periods prior to and through the Closing Date, and Buyer shall submit and file any required reports in IRS Form 945, 1098 and 1099, as well as all other informational tax reports with respect to interest paid on Deposit Liabilities for the periods beginning after the Closing Date. The provisions of this Section 9.1 shall in no way limit Buyer’s duties or obligations arising under Section 2.2(b).
