Interest on Deposit Liabilities. The Assuming Bank agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Bank to its depositors for non-transaction deposit accounts. The Assuming Bank shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's Deposit, whether or not the Assuming Bank elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Interest on Deposit Liabilities. The Assuming Bank Institution agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section
Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Bank Institution to its depositors for non-transaction deposit accounts. The Assuming Bank Institution shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's ’s Deposit, whether or not the Assuming Bank Institution elects to pay interest in accordance Module 1 – Whole Bank w/ Loss Share – P&A Sterling Bank Version 2.07 Lantana, Florida June 10, 2010 10 with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank Institution shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Iberiabank Corp)
Interest on Deposit Liabilities. The Assuming Bank Institution agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section
Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Institution to its
Module 1 Whole Bank to its w/ Loss Share – P&A USA BANK Version 2.06 PORT CHESTER, NEW YORK May 24, 2010 depositors for non-transaction deposit accounts. The Assuming Bank Institution shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's Deposit, whether or not the Assuming Bank Institution elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank Institution shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Customers Bancorp, Inc.)
Interest on Deposit Liabilities. The Assuming Bank agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section
Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Bank to its depositors for non-transaction deposit accounts. The Assuming Bank shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's ’s Deposit, whether or not the Assuming Bank elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Community Bankers Trust Corp)
Interest on Deposit Liabilities. The Assuming Bank Institution agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to SectionModule 1 — Whole Bank w/ Loss Share — P&A GULF STATE COMMUNITY BANK Version 2.11B CARRABELLE, FLORIDA October 8, 2010 10
Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Bank Institution to its depositors for non-transaction deposit accounts. The Assuming Bank Institution shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's ’s Deposit, whether or not the Assuming Bank Institution elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank Institution shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Home Bancshares Inc)
Interest on Deposit Liabilities. The Assuming Bank agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section
Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Bank to its depositors for non-transaction deposit accounts. The Assuming Bank shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's ’s Deposit, whether or not the Assuming Bank elects to pay interest in accordance with any deposit agreement formerly Whole Bank P&A w/Loss Sharing COUNTY BANK 6 February 2009 MERCED, CA existing between the Failed Bank and such depositor; and further provided, that if such Deposit Whole Bank P&A w/Loss Sharing 9 Suburban Federal Savings Bank January 30, 2009 Crofton, MD has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Bank shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Westamerica Bancorporation)