Account Loans. On and after the Closing Date, Buyer shall continue to honor and provide credit in accordance with the terms and provisions of any Account Loans transferred under this Agreement until such provisions are properly modified or canceled by Buyer.
Account Loans. (a) Exhibit A is a true and correct schedule of all Account Loans, including the aggregate outstanding principal shown thereon, of the Seller as of the date indicated thereon (which shall be updated through the Closing Date) to be transferred to Buyer hereunder.
(b) Any and all Account Loans extended by the Seller and any extensions, renewals or continuations of such Account Loans were made in accordance with customary lending standards of the Seller in the ordinary course of business, and are secured by deposit accounts which constitute Deposits hereunder. Any Account Loans are evidenced by appropriate and sufficient documentation based upon customary and ordinary past practices of the Seller.
(c) All Account Loans have been made, in all material respects, in accordance with all applicable statutes and regulatory requirements.
Account Loans. (a) Schedule 6.12 is a true and correct schedule of all Account Loans, including the aggregate outstanding principal shown thereon, of the Seller as of the date indicated thereon (which shall be updated through the Closing Date) to be transferred to Buyer hereunder.
(b) Any and all Account Loans extended by the Seller and any extensions, renewals or continuations of such Account Loans were made in accordance with customary lending standards of the Seller in the ordinary course of business, and are secured by deposit accounts that constitute Deposits hereunder. Any Account Loans are evidenced by appropriate and sufficient documentation based upon customary and ordinary past practices of the Seller.
(c) All Account Loans have been made, in all material respects, in accordance with all applicable statutes and regulatory requirements.
Account Loans. On and after the Closing Date, Purchaser shall continue to honor and provide credit in accordance with applicable law and the provisions of the Deposit-Related Loans and Other Loans transferred under this Agreement until such provisions are properly modified or canceled by Purchaser. On and after the Closing Date, Purchaser acknowledges and agrees that Seller shall not service any loans which are part of the transaction contemplated by this Agreement and that Purchaser must make all necessary arrangements to have said loans otherwise serviced.
Account Loans. 19 Section 5.15 Contracts..................................................................19 Section 5.16
Account Loans. Buyer shall have the right prior to the Due Diligence Expiration Date to review the Account Loans and Seller shall afford Buyer reasonable access to the files relating thereto. On or before the Due Diligence Expiration Date, Buyer shall give written notice to Seller of any material defect or problems with the Account Loans. If such written notice is not received on or before the Due Diligence Expiration Date, Buyer shall be deemed to have approved the Account Loans. Seller shall no later than five (5) days before the Closing Date remedy any material defects or problems with the Account Loans identified in such written notice to the satisfaction of Buyer. Failure to remedy any such material defect to the satisfaction of Buyer before five (5) days before the Closing Date shall, at Buyer's option, allow Buyer to exclude such disapproved items from the Assets of the Branch or adjust the purchase price for such Assets accordingly by mutual agreement of the Parties.
Account Loans. 1.2 Commercial Loans 1.3 Commercial Mortgage Loans 1.
Account Loans. At the Closing, subject to the terms and conditions set forth herein, the Company shall convey, assign and transfer to ALBANK all of GMB's right, title and interest in and to the Account Loans as of the Pre-closing Close of Business, free and clear of all Encumbrances. The Company shall cause the Sale and Assignment Agreement to be delivered to ALBANK to effect such conveyance, assignment and transfer, which shall specify the Account Loans being transferred. At the Closing, the Company shall also deliver to ALBANK the original executed promissory notes or other evidences of indebtedness relating to the Account Loans, duly endorsed or otherwise assigned in favor of ALBANK, together with any ancillary agreements between GMB and the borrowers relating to such Account Loans and any passbooks held by GMB as collateral for such Account Loans.
Account Loans. 23 5.14 SAFE DEPOSIT BUSINESS..................................................... 23
Account Loans. (a) Each of the Account Loans is current as to payment of interest and principal (i.e., not more than twenty-nine (29) days past due), and will not have been more than twenty-nine (29) days past due at any time within the last twelve months.
(b) Each of the Account Loans (other than an Overdraft Loan) is secured by a valid, and prior lien on the account or accounts serving as security therefor and the balance in such account or accounts exceeds all amounts owing on such Account Loan.
(c) The documentation for each Account Loan, including customer disclosure for such Account Loans, is correct and complete to the extent that all files contain properly executed notes and security agreements (in the case of Account Loans) and comply with all applicable laws and regulations, including but not limited to applicable usury statutes, affecting the ability to collect principal and interest on such loans.
(d) The Account Loans meet the requirements set by the Office of Thrift Supervision ("OTS") and any other applicable regulator for investments by a savings association.
(e) The terms of the Account Loans have not been impaired, waived, altered or modified in any respect except by a written instrument or instruments, a copy of which is contained in the relevant loan file.
(f) None of the Account Loans is subject to any right of rescission, set-off, counter-claim or defense and, except as previously disclosed in writing to Buyer, no such rights or defenses have been asserted with respect thereto.
