Common use of Assumption of rights Clause in Contracts

Assumption of rights. At the Effective Time, the separate existence and -------------------- corporate organization of PMB shall be merged into and continued in the Surviving Bank. All rights, franchises, and interests of both PMB and Farmers in and to every type of property (real, personal, and mixed), and all choses in action of both PMB and 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 incompetent 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 PMB or Farmers at the Effective Time.

Assumption of rights. At the Effective Time, the separate ---------------------- existence and -------------------- corporate organization of PMB First Bank shall be merged into and continued in the Surviving Bank. All rights, franchises, and interests of both PMB Interim and Farmers First Bank in and to every type of property (real, personal, and mixed), and all choses in action of both PMB Interim and Farmers 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 incompetent competent 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 PMB Interim or Farmers at the Effective TimeFirst Bank.

Assumption of rights. At the Effective Time, the separate existence and -------------------- corporate organization of PMB 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 PMB and Farmers OmniAmerican in and to every type of property (real, personal, personal and mixed), and all choses in action of both PMB and Farmers 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 incompetent personslunatics, 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 PMB of OmniAmerican or Farmers 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 PMB 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 PMB and Farmers First Bank in and to every type of property (real, personal, personal and mixed), and all choses in action of both PMB and Farmers 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 incompetent personslunatics, 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 PMB of First Bank or Farmers by Southside at the Effective Time, subject to any conditions imposed by the Applicable Laws.