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 the Surviving Bank. All rights, franchises, and interests of both Interim and First Bank in and to every type of property (real, personal, and mixed), and all choses in action of both Interim and First Bank shall be transferred to and vested in the Surviving Bank without any deed or other transfer. The Surviving Bank, upon consummation of the 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 competent 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 Interim or First Bank.

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 Banksurviving bank of the Bank Merger. All rights, franchises, franchises and interests of both Interim and First Bank OmniAmerican in and to every type of property (real, personal, personal and mixed), and all choses in action of both Interim and First Bank OmniAmerican shall be transferred to and vested in Southside as the Surviving surviving bank by virtue of the Bank Merger without any deed or other transfer. The Surviving BankSouthside, 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 competent personslunatics, 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 Interim of OmniAmerican or First Bankby 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 Banksurviving bank of the Bank Merger. 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 surviving bank by virtue of the Bank Merger without any deed or other transfer. The Surviving BankSouthside, 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 competent personslunatics, 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 Interim of First Bank or First Bankby 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 the Surviving Bank. All rights, franchises, and interests of both Interim PMB and First Bank Farmers in and to every type of property (real, personal, and mixed), and all choses in action of both Interim PMB and First Bank Farmers shall be transferred to and vested in the Surviving Bank without any deed or other transfer. The Surviving Bank, upon consummation of the 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 competent incompetent 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 Interim PMB or First BankFarmers at the Effective Time.