Common use of Assumption of rights Clause in Contracts

Assumption of rights. At the Effective Time, the separate existence and corporate organization of First Bank shall be merged into and continued in Southside, as the surviving bank of the Bank Merger. All rights, franchises and interests of First Bank in and to every type of property (real, personal and mixed), and all choses in action of First Bank shall be transferred to and vested in Southside as the surviving bank by virtue of the Bank Merger without any deed or other transfer. Southside, upon consummation of the Bank Merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises and interests, including appointments, designations and nominations, and all other rights and interests as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver and committee of estates of lunatics, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by either of First Bank or by Southside at the Effective Time, subject to any conditions imposed by the Applicable Laws.

Assumption of rights. At the Effective Time, the separate ---------------------- existence and corporate organization of First Bank shall be merged into and continued in Southside, as the surviving bank of the Bank MergerSurviving Bank. All rights, franchises franchises, and interests of both Interim and First Bank in and to every type of property (real, personal personal, and mixed), and all choses in action of both Interim and First Bank shall be transferred to and vested in Southside as the surviving bank by virtue of the Surviving Bank Merger without any deed or other transfer. SouthsideThe Surviving Bank, upon consummation of the Bank Merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises franchises, and interests, including appointments, designations designations, and nominations, and all other rights and interests as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver receiver, and committee of estates of lunaticscompetent persons, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by either of Interim or First Bank or by Southside at the Effective Time, subject to any conditions imposed by the Applicable LawsBank.

Assumption of rights. At the Effective Time, the separate existence and corporate organization of First Bank OmniAmerican shall be merged into and continued in Southside, as the surviving bank of the Bank Merger. All rights, franchises and interests of First Bank OmniAmerican in and to every type of property (real, personal and mixed), and all choses in action of First Bank OmniAmerican shall be transferred to and vested in Southside as the surviving bank by virtue of the Bank Merger without any deed or other transfer. Southside, upon consummation of the Bank Merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises and interests, including appointments, designations and nominations, and all other rights and interests as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver and committee of estates of lunatics, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by either of First Bank OmniAmerican or by Southside at the Effective Time, subject to any conditions imposed by the Applicable Laws.

Assumption of rights. At the Effective Time, the separate existence and -------------------- corporate organization of First Bank PMB shall be merged into and continued in Southside, as the surviving bank of the Bank MergerSurviving Bank. All rights, franchises franchises, and interests of First Bank both PMB and Farmers in and to every type of property (real, personal personal, and mixed), and all choses in action of First Bank both PMB and Farmers shall be transferred to and vested in Southside as the surviving bank by virtue of the Surviving Bank Merger without any deed or other transfer. SouthsideThe Surviving Bank, upon consummation of the Bank Merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises franchises, and interests, including appointments, designations designations, and nominations, and all other rights and interests as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver receiver, and committee of estates of lunaticsincompetent persons, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, franchises and interests were held or enjoyed by either of First Bank PMB or by Southside Farmers at the Effective Time, subject to any conditions imposed by the Applicable Laws.