Common use of Access to the Branches on the Closing Date Clause in Contracts

Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the Branch and the removal of any personal property, equipment or other assets located at the Branch that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 17 contracts

Samples: Purchase and Assumption Agreement (Pathfinder Bancorp, Inc.), Purchase and Assumption Agreement (MVB Financial Corp), Purchase and Assumption Agreement (Summit Financial Group, Inc.)

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Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed completed, within a commercially reasonable amount of time, its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the Branch and the removal of any personal property, equipment or other assets located at the Branch that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 4 contracts

Samples: Purchase and Assumption Agreement (HCSB Financial Corp), Purchase and Assumption Agreement (First National Corp /Va/), Purchase and Assumption Agreement (Carolina Financial Corp)

Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, on the Closing Date that neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch the Branches on the Closing Date until Seller has completed its decommissioning of such Branchthe Branches, which shall include the disabling of Seller’s information systems at the Branch Branches and the removal of any personal property, equipment or other assets located at the Branch Branches that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch the Branches in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sunshine Bancorp, Inc.)

Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the Branch and the removal of any personal property, equipment or other assets located at the Branch that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement. Seller shall complete such decommissioning within a commercially reasonable amount of time following the Closing Date.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First South Bancorp Inc /Va/)

Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the Branch and the removal of any personal property, equipment or other assets located at the Branch that do not constitute AssetsAssets which decommissioning shall be completed as promptly as practicable after the Closing; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Bank of Commerce Holdings)

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Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch (except for the Non-Transferred Branch), on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed completed, within a commercially reasonable amount of time, its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the Branch and the removal of any personal property, equipment or other assets located at the Branch that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch (except for the Non-Transferred Branch) in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Community Bancshares Inc /Nv/)

Access to the Branches on the Closing Date. Purchaser agrees that, with respect to each Branch, Branch on the Closing Date neither it nor any of its agents, Affiliates or representatives shall be permitted to access such Branch until Seller has completed its decommissioning of such Branch, which shall include the disabling of Seller’s information systems at the such Branch and the removal of any personal property, equipment or other assets located at the such Branch that do not constitute Assets; it being agreed that, notwithstanding the foregoing, on the Closing Date, Purchaser shall be permitted to have one representative present at each Branch in order to ensure that the actions taken by Seller in connection with such decommissioning comply with the terms of this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (FS Bancorp, Inc.)

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