Bank Closure. At the end of the monitoring period, upon satisfaction of the performance standards, upon the debiting of all credits, and upon approval of a Long-Term Management Plan, the Corps and DSL shall issue a written “Bank closure certification” to the Sponsor. Prior to Bank closure, all elements of the Long-Term Management Plan shall be established or activated such that there are no obstacles to its implementation.
Bank Closure. Notwithstanding any other provisions contained in this Lease, in the event the Tenant is closed or taken over by the banking authority of the State of Tennessee, or other bank supervisory authority, the Landlord may terminate the Lease only with the concurrence of such banking authority or other bank supervisory authority, and any such authority shall in any event have the election either to continue or to terminate the Lease; provided, that in the event this Lease is terminated, the maximum claim of Landlord for damages or indemnity for injury resulting from the rejection or abandonment of the unexpired term of the Lease shall in no event be in an amount exceeding the rent reserved by the Lease, without acceleration, for the year next succeeding the date of the surrender of the Leased Premises to the Landlord, or the date of re-entry of the Landlord, whichever first occurs, whether before or after the closing of the bank owned by the Tenant, plus an amount equal to the unpaid rent accrued, without acceleration up to such date.
Bank Closure. At the end of the monitoring period, upon satisfaction of the performance measures, the Corps and DSL shall issue a written certification of satisfaction to the Sponsor and the escrow agent, and thereafter any remaining financial assurances will be released to the Sponsor. The Sponsor may be allowed to utilize that portion of the Bank lands that have not had compensation credits debited from it (i.e. Restoration, Creation, Enhancement, or Preservation lands) provided the utilization does not adversely impact the areas from which compensatory mitigation credit has been debited.
