Common use of Assumed Deposits Clause in Contracts

Assumed Deposits. None of the Assumed Deposits are: (i) deposits securing loans or other extensions of credit by Seller that are not Purchased Loans; (ii) other than XXX deposits, deposits held in accounts for which Seller acts as fiduciary; (iii) deposits subject to legal process; (iv) deposits which are treated as abandoned property under applicable Law related to abandoned property; (v) deposits held in the name of Seller or any of its affiliated entities as depositor; (vi) deposits represented by official checks, travelers checks, money orders, or certified checks of Seller; or (vii) accounts designated as “closed” on the books and records of Seller.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (Atlantic Capital Bancshares, Inc.), Purchase and Assumption Agreement (Athens Bancshares Corp)

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Assumed Deposits. None of the Assumed Deposits are: (i) deposits securing loans or other extensions of credit by Seller that are not Purchased Loans; , (ii) other than XXX IXX deposits, deposits held in accounts for which Seller acts as fiduciary; , (iii) deposits subject to legal process; , (iv) deposits which are treated as abandoned property under applicable Law related to Florida abandoned property; property laws, (v) deposits held in the name of Seller or any of its affiliated entities as depositor; , (vi) deposits represented by official checks, travelers checks, money orders, or certified checks of Seller; Seller or (vii) accounts designated as “closed” on the books and records of Seller.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Fidelity Southern Corp)

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Assumed Deposits. None of the Assumed Deposits are: (i) deposits securing loans or other extensions of credit by Seller that are not Purchased Loans; (ii) other than XXX depositsIRA xxxosits, deposits held in accounts for which Seller acts as fiduciary; (iii) deposits subject to legal process; (iv) deposits which are treated as abandoned property under applicable Law related to abandoned property; (v) deposits held in the name of Seller or any of its affiliated entities as depositor; (vi) deposits represented by official checks, travelers checks, money orders, or certified checks of Seller; or (vii) accounts designated as “closed” on the books and records of Seller.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Atlantic Capital Bancshares, Inc.)

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