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Common use of CDARS Clause in Contracts

CDARS. CDARS deposits pass to the Assuming Bank, but are excluded from Assumed Deposits when the deposit premium is calculated. 1st American State Bank of Minnesota did not participate in the CDARS program as of the date of the deposit download. If CDARS deposits are taken between the date of the deposit download and the Bank Closing Date, they will be identified post closing and made part of Schedule 7 to the P&A Agreement.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement

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