Common use of Duties With Respect to Depositors of the Failed Bank Clause in Contracts

Duties With Respect to Depositors of the Failed Bank. 5.1 Payment of Checks, Drafts and Orders. Subject to Section 9.5, the Assuming Bank agrees to pay all properly drawn checks, drafts and withdrawal orders of depositors of the Failed Bank presented for payment, whether drawn on the check or draft forms provided by the Failed Bank or by the Assuming Bank, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Bank under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Bank under this Agreement.

Duties With Respect to Depositors of the Failed Bank. 5.1 5.1. Payment of Checks, Drafts Drafts, Orders and OrdersDeposits. Subject to Section 9.5, the Assuming Bank Institution agrees to pay all properly drawn checks, drafts and drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the check or draft forms provided by the Failed Bank or by the Assuming BankInstitution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Bank Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Bank Institution under this Agreement.

Duties With Respect to Depositors of the Failed Bank. 5.1 Payment of Checks, Drafts and Orders. Subject to Section 9.5, the Assuming Bank Institution agrees to pay all properly drawn checks, drafts and withdrawal orders of depositors of the Failed Bank presented for payment, whether drawn on the check or draft forms provided by the Failed Bank or by the Assuming BankInstitution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Bank Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Bank Institution under this Agreement.

Duties With Respect to Depositors of the Failed Bank. 5.1 5.1. Payment of Checks, Drafts Drafts, Orders and OrdersDeposits. Subject to Section 9.5, the Assuming Bank Institution agrees to pay all properly drawn checks, drafts and drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the check or draft forms provided by the Failed Bank or by the Assuming BankInstitution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Bank Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Bank Institution under this Agreement. 5.2.