Common use of Existence and Authority Clause in Contracts

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized and in good standing under the laws of the United States of America, and has the corporate power and authority to carry on its business as now conducted and to acquire and operate the Business as currently conducted or as proposed to be conducted. The Purchaser and its deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized organized, validly existing, and in good standing under the laws of the United States of America, and has the corporate requisite power and authority to carry on its business as now conducted and and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) to acquire the Acquired Assets and operate the Business as currently conducted or as proposed to be conductedBusiness. The Purchaser and its Purchaser’s deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized and in good standing validly existing under the laws of the United States of AmericaStates, and has the corporate requisite power and authority to carry on its business as now conducted and to acquire the Acquired Assets and operate the Business as currently conducted or as proposed Business, including extending credit and maintaining the loans extended pursuant to be conductedthe Credit Card Agreements. The Purchaser and its deposits Purchaser’s deposit liabilities are insured by the Federal Deposit Insurance Corporation and all premiums and assessments required to be paid in connection therewith have been paid by the fullest extent permitted by lawPurchaser when due.

Existence and Authority. The Purchaser is a federal savings bank, validly existing national banking association, duly organized and in good standing under the laws of the United States of America, and has the corporate power and authority to carry on its business as now conducted and to acquire and operate the Business as currently conducted or as proposed to be conductedBusiness. The Purchaser and its deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized and in good standing under the laws of the United States of America, and has the corporate power and authority to carry on its business as now conducted and to acquire and operate Pier 1 Bank and the Business as currently conducted or as proposed to be conducted. The Purchaser and its deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.