In either case, the Negative Response Letter shall comply with all applicable NASD Rules and shall inform Customers of the method in which their Accounts are being transferred to Multi-Financial. In the event that Legacy and Multi-Financial elect to transfer Accounts on an account-by-account basis via ACAT transfer, Legacy will obtain any necessary Customer consent to transfer the Accounts to and share information with Multi-Financial as necessary to facilitate this process. Transfer of Customer Accounts. 2.2.1 In the event Legacy has determined that a bulk transfer of Accounts would be permitted by NASD Rules, and Legacy and Multi- Financial elect to transfer Accounts in bulk from Legacy to Multi-Financial, then as soon as possible after the Closing Date, Legacy and Multi-Financial shall in cooperation with each other and with each party’s respective clearing agent prepare a form of Negative Response Letter ("Negative Response Letter"). Further, Seller acknowledges and agrees that (y) Seller has no right, title or interest in or to any amounts 4820-4970-2750.11 collected by the Company prior to the date of this Agreement with respect to or under such Customer Accounts, accounts receivable, or otherwise, and (z) no amounts previously collected by the Company will be remitted to Seller. Seller acknowledges and agrees that the Company (a) is making no representation, warranty or covenant regarding the Customer Accounts or such accounts receivable or the status or collectability of any such accounts receivable or any other amounts owed under the Customer Accounts, (b) shall have no liability to Seller or otherwise in the event of non-payment, underpayment, or late payment of any such accounts receivable or any other amounts owed under the Customer Accounts, and (c) shall have no further rights or obligations under or with respect to such Customer Accounts, such accounts receivable, or any other amounts owed under the Customer Accounts. Use Menu- HFTI Tran inquiry Note down the tran-id generated in the closure menu and enquire the transaction details.Transfer of Customer Accounts. In consideration for the sale of the Shares and in connection with the termination of the PERS Agreement, the Company hereby transfers the Customer Accounts (as defined in the PERS Agreement) and any uncollected accounts receivable relating to such Customer Accounts to Seller.Use Menu- CRDCAAC (Verification by Supervisor) Enter the account number or select from the searcher.If cheque has to be issued, enter the Repayment mode as Transfer and enter the Postmaster Cheque account (ac id – SOL id ending with 0340).From Repayment a/c place holder, user needs to invoke the menu HCASHPND for transferring it to teller cash a/c.
If Repayment mode is chosen as cash – then proceeds go to repayment a/c.We can specify the savings account of the customer in this. If the Repayment mode is selected as Transfer, then the Repayment A/c is to be specified.If it is not a death closure, select the radio button as No.
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