Capitalized Expenditures. No Charge-Off shall be taken with respect to any anticipated expenditure by the Assuming Institution until such expenditure is actually incurred. Losses incurred on the sale or other disposition of Shared-Loss Assets to any Person shall not constitute Charge-Offs except for: (i) sales duly conducted in accordance with the provisions of Sections 4.1(a) and 4.1(b), (ii) the sale or other disposition of ORE or Additional ORE to a Person other than an Affiliate of the Assuming Institution which was conducted in a commercially reasonable and prudent manner and (iii) other sales or dispositions, if any, with respect to which the Receiver granted prior consent.
Appears in 14 contracts
Samples: Purchase and Assumption Agreement (HCBF Holding Company, Inc.), Purchase and Assumption Agreement (Hilltop Holdings Inc.), Purchase and Assumption Agreement (Fidelity Southern Corp)
Capitalized Expenditures. No Charge-Off shall be taken with respect to any anticipated expenditure by the Assuming Institution until such expenditure is actually incurred. Losses incurred on the sale or other disposition of Shared-Loss Assets Loans to any Person shall not constitute Charge-Offs except for: (i) sales duly conducted in accordance with the provisions of Sections 4.1(a) and 4.1(b), (ii) the sale or other disposition of ORE or Additional ORE to a Person other than an Affiliate of the Assuming Institution which was conducted in a commercially reasonable and prudent manner and (iii) other sales or dispositions, if any, with respect to which the Receiver granted prior consent.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Charter Financial Corp/Ga)
