Common use of Failed Bank Employees Clause in Contracts

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming Institution. The Assuming Institution shall offer to the Failed Bank employees it retains employment benefits comparable to those the Assuming Institution, offers its current employees. In the event the Receiver utilizes the services of any Failed Bank employee, the Receiver shall reimburse the Assuming Institution for such cost through the settlement process described in Article VIII.

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be is responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank Closing Date until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming InstitutionInstitution will retain that employee. The Assuming Institution shall will offer to the Failed Bank employees it retains employment benefits comparable to those that the Assuming Institution, Institution offers its current employees. In the event If the Receiver utilizes uses the services of any Failed Bank employee, the Receiver shall will reimburse the Assuming Institution for such that cost through the settlement process described in Article VIII.

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming Institution. The Assuming Institution shall offer to the Failed Bank employees it retains employment benefits comparable to those the Assuming Institution, offers its current employees. In the event the Receiver utilizes the services of any Failed Bank employee, the Receiver shall reimburse the Assuming Institution for such cost through the settlement process described in Article VIII.. (d)

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming Institution. The Assuming Institution shall offer to the Failed Bank employees it retains employment benefits comparable to those the Assuming Institution, offers its current employees. In the event the Receiver utilizes the services of any Failed Bank employee, the Receiver shall reimburse the Assuming Institution for such cost through the settlement process described in Article VIII.. Whole Bank w/ Optional Shared Loss Agreements Carolina Federal Savings Bank

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be is responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank Closing Date until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming InstitutionInstitution will retain that employee. The Assuming Institution shall will offer to the Failed Bank employees it retains employment benefits comparable to those that the Assuming Institution, offers its current employees. In the event If the Receiver utilizes uses the services of any Failed Bank employee, the Receiver shall will reimburse the Assuming Institution for such that cost through the settlement process described in Article VIII.

Failed Bank Employees. Unless otherwise agreed by the Receiver and the Assuming Institution, the Assuming Institution shall be is responsible for all salaries and payroll costs, including benefits, for all Failed Bank employees from the time of the closing of the Failed Bank Closing Date until the Assuming Institution makes a final determination as to whether such employee is to be retained by the Assuming InstitutionInstitution will retain that employee. The Assuming Institution shall will offer to the Failed Bank employees it retains employment benefits comparable to those that the Assuming Institution, Institution offers its current employees. In the event If the Receiver utilizes uses the services of any Failed Bank employee, the Receiver shall will reimburse the Assuming Institution for such that cost through the settlement process described in Article VIII.. (d)