Common use of BID; INITIAL PAYMENT Clause in Contracts

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 % (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (Bay Bancorp, Inc.), Purchase and Assumption Agreement (Bay Bancorp, Inc.)

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BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver an asset premium (discount) bid of ($12,000,000) and a Deposit deposit premium bid of 0.20 % (the “Bid Amount”)0%. The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 zero (0%) and an Asset discount bid of 17 % (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 1.59% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (Popular Inc)

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver an asset discount bid of ($18,867,000) and a positive Deposit premium bid of 0.20 % (the “Bid Amount”)0.00%. The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver an asset premium bid of $0.00 and a positive Deposit premium bid of 0.20 % (the “Bid Amount”)0.51%. The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver an asset (discount) bid of ($16,450,000) and a positive Deposit premium bid of 0.20 % (the “Bid Amount”)0%. The Deposit premium bid will be applied to the total of all Assumed Deposits Deposits. except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver an asset discount bid of $22,247,002.00 and a positive Deposit premium bid of 0.20 % (the “Bid Amount”)0.89%. The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement Whole Bank, Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 zero (0%) and an Asset discount bid of 17 % (the "Bid Amount"). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Customers Bancorp, Inc.)

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 0.51% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 0.00% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Ameris Bancorp)

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 0% (the "Bid Amount"). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the the. Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Interest. Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)

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BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 0% and an Asset discount bid of $213,000,000 (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 1.26% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 % $35,000,000.00 (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 1.19% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Howard Bancorp Inc)

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 % zero percent (0%) (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a an asset discount bid of three million dollars, $3,000,000.00, and no Deposit premium bid of 0.20 % (the “Bid Amount”)bid. The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7Deposits. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Bank Closing DateClosing) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

BID; INITIAL PAYMENT. The Assuming Institution has submitted to the Receiver a Deposit premium bid of 0.20 4.05% (the “Bid Amount”). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7. On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement

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