Assumed Deposit Liabilities Sample Clauses

Assumed Deposit Liabilities. The Deposit Liabilities are insured by the FDIC through the Bank Insurance Fund or the Savings Association Insurance Fund to the extent permitted by law, and all premiums and assessments required to be paid in connection therewith have been paid when due by Sellers.

Assumed Deposit Liabilities. (a) The First agrees to pay in accordance with Law and customary banking practices all properly drawn and presented checks, drafts and withdrawal orders presented to The First by mail, over the counter or through the check clearing system of the banking industry, by depositors of the accounts assumed, whether drawn on the checks, withdrawal or draft forms provided by FNB or The First, and in all other respects to discharge, in the usual course of the banking business, the duties and obligations of FNB with respect to the balances due and owing to the depositors whose accounts are assumed by The First. (b) In a form and on a date mutually agreeable to The First and FNB, the First will notify the depositors of assumed deposit accounts, on or before the Effective Time of The First’s assumption of Assumed Deposit Liabilities. In addition, FNB will notify its affected customers by letter of the pending assignment of the Assumed Deposit Liabilities to The First, in a form and mailed on a date mutually agreeable to FNB and The First. (c) FNB will render a final statement to each depositor of an account assumed under this Agreement as to transactions occurring through the Effective Time; provided however that FNB will not be obligated to render a final statement on any account not ordinarily receiving periodic statements in the ordinary course of FNB’s business. (d) The parties will take appropriate action to ensure the notification of all Automated Clearing House (“ACH”) originators of the transfers and assumptions made under this Agreement.

Assumed Deposit Liabilities. 27 Section 6.11. No Assessable Improvements....................................................................... 28 Section 6.12. No Adverse Notices............................................................................... 28 Section 6.13. No Change in Assessment.......................................................................... 28 Section 6.14. Licenses and Permits............................................................................. 28 Section 6.15. No Condemnation.................................................................................. 28 Section 6.16.

Assumed Deposit Liabilities. 23 5.15 Limitations on Representations and Warranties...............24