Common use of Transition Planning Clause in Contracts

Transition Planning. Not later than five (5) business days after the signing of this Agreement, and regularly thereafter at the reasonable request of the Purchaser Transition Manager or the Seller Transition Manager, Seller representatives will meet with Purchaser representatives to investigate, confirm and agree upon the actions necessary to transition of the services and records of the Transferred Banking Center, including mutually acceptable transaction settlement procedures, specifications and files, procedures and schedules for the transfer of account record responsibility, procedures for notification of customers, employees and suppliers, procedures for conversion of data processing and check clearing systems, procedures for response to customer inquiries and procedures for any other matter necessary to facilitate the transition. Purchaser Transition Manager will provide Seller Transition Manager with a transition report describing the progress Purchaser has made on the transition of the services and records of the Transferred Banking Center and the conversion of the data processing with respect to the Assumed Liabilities and Transferred Assets, no less frequently than once every other week or upon the reasonable request of the Seller Transition Manager.

Transition Planning. Not later than five (5) business days after the signing of this Agreement, and regularly thereafter at the reasonable request of the Purchaser Transition Manager or the Seller Transition Manager, Seller representatives will meet with Purchaser representatives to investigate, confirm and agree upon the actions necessary to transition of the services and records Records of the Transferred Banking CenterBranch Offices, including mutually acceptable transaction settlement procedures, specifications and files, procedures and schedules for the transfer of account record responsibility, procedures for notification of customers, employees and suppliers, procedures for conversion of data processing and check clearing systems, procedures for response to customer inquiries and procedures for any other matter necessary to facilitate the transition. Purchaser Transition Manager will provide Seller Transition Manager with a transition report describing the progress Purchaser has made on the transition of the services and records of the Transferred Banking Center Branch Offices and the conversion of the data processing with respect to the Assumed Liabilities and Transferred Assets, no less frequently than once every other week or upon the reasonable request of the Seller Transition Manager.