Furniture and Equipment and Certain Other Equipment. The Receiver hereby grants to the Assuming Institution an option to purchase all Furniture and Equipment owned by the Failed Bank at Fair Market Value and located at any leased or owned Bank Premises (A) that the Assuming Institution does not elect to purchase pursuant to Section 4.6(a) or (b) for which Assuming Institution does not elect to take assignment of its lease pursuant to Section 4.6(b); provided that, the Assuming Institution shall give the Receiver notice of its election to purchase such Furniture and Equipment at the time it gives notice of its intention to surrender such Bank Premises.
Appears in 6 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (Great Southern Bancorp Inc), Purchase and Assumption Agreement (Bay Bancorp, Inc.)
Furniture and Equipment and Certain Other Equipment. The Receiver hereby grants to the Assuming Institution an option to purchase all Furniture and Equipment owned by the Failed Bank at Fair Market Value and located at any leased or owned Bank Premises (Ai) that the Assuming Institution does not elect to purchase pursuant to Section 4.6(a) or (bii) for which Assuming Institution does not elect to take assignment of its lease pursuant to Section 4.6(b); provided that, the Assuming Institution shall give the Receiver notice of its election to purchase such Furniture and Equipment at the time it gives notice of its intention to surrender such Bank Premises.
Appears in 4 contracts
Samples: Purchase and Assumption Agreement (Hancock Holding Co), Purchase and Assumption Agreement (Popular Inc), Purchase and Assumption Agreement (Howard Bancorp Inc)
Furniture and Equipment and Certain Other Equipment. The Receiver hereby grants to the Assuming Institution an option to purchase all Furniture and Equipment owned by the Failed Bank at Fair Market Value and located at any leased or owned Bank Premises (A) that the Assuming Institution does not elect to purchase pursuant to Section 4.6(a) or (b) for which Assuming Institution does not elect to take assignment of its lease pursuant to Section 4.6(b); provided that, the Assuming Institution shall give the Receiver notice of its election to purchase such Furniture and Equipment at the time it gives notice of its intention to surrender such Bank Premises.
(i) Option to Put Bank Premises and Related Fixtures, Furniture and
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bay Bancorp, Inc.)
