Common use of Liabilities Under Leases/Safe Deposit Business Clause in Contracts

Liabilities Under Leases/Safe Deposit Business. Assume and thereafter fully and timely perform and discharge, in accordance with their respective terms, all of the liabilities and obligations of VISION arising after the Closing Date with respect to: (i) all leases listed on Schedules B and E to this Agreement (including safe deposit leases if any) and sold, assigned or transferred to BUYER by SELLER pursuant to this Agreement; (ii) the safe deposit business of the Offices including, but not limited to, the maintenance of all necessary facilities for the use of safe deposit boxes by the renters thereof during the periods for which such persons have paid rent therefore in advance to VISION, subject to the agreed allocation of such rents, which allocation shall be satisfied in full by SELLER paying to BUYER, in the manner specified in Section 6.4 hereof, the amount of rental payment received by VISION for each such safe deposit box attributable to and prorated to reflect the period from and after the Closing Date, subject to the provisions of the applicable leases or other agreements relating to such boxes; and (iii) all safekeeping items and agreements listed on Schedule E to this Agreement and delivered to BUYER by SELLER pursuant to this Agreement, including, but not limited to, all applicable safekeeping agreements, memoranda, or receipts so delivered to BUYER by SELLER hereunder.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (Home Bancshares Inc), Purchase and Assumption Agreement (Park National Corp /Oh/)

AutoNDA by SimpleDocs

Liabilities Under Leases/Safe Deposit Business. Assume and thereafter fully and timely perform and discharge, in accordance with their respective terms, all of the liabilities and obligations of VISION SELLER arising after the Closing Date with respect to: (i) all leases listed on Schedules B the Office Lease, the Assumed Contracts, and E to this Agreement (including any safe deposit leases if any) and which are sold, assigned or transferred to BUYER by SELLER pursuant to this Agreement; (ii) the safe deposit business of the Offices Offices, including, but not limited to, the maintenance of all necessary facilities for the use of safe deposit boxes by the renters thereof during the periods for which such persons have paid rent therefore therefor in advance to VISIONSELLER, subject to the agreed allocation provisions of the applicable leases or other agreements relating to such rentsboxes. At the Closing, which allocation SELLER shall be satisfied in full by SELLER paying pay to BUYER, in the manner specified in Section 6.4 hereof, the amount of rental payment previously received by VISION SELLER for each such safe deposit box attributable to and prorated to reflect the period from and after the Closing Date, subject to the provisions of the applicable leases or other agreements relating to such boxes; and (iii) all safekeeping items and agreements listed on Schedule E to this Agreement and delivered to BUYER by SELLER pursuant to this Agreement, including, but not limited to, all applicable safekeeping agreements, memoranda, or receipts so delivered to BUYER by SELLER hereunder.; and

Appears in 2 contracts

Samples: Office Purchase and Assumption Agreement (CSB Bancorp Inc /Oh), Purchase and Assumption Agreement (Ohio Legacy Corp)

Liabilities Under Leases/Safe Deposit Business. Assume and thereafter fully and timely perform and discharge, in accordance with their respective terms, all of the liabilities and obligations of VISION BANK ONE arising after the Closing Date with respect to: (i) all leases listed on Schedules B and E Schedule D to this Agreement (including safe deposit leases if any) and sold, assigned or transferred to BUYER CNB by SELLER BANK ONE pursuant to this Agreement; (ii) the safe deposit business of the Offices including, but not limited to, the maintenance of all necessary facilities for the use of safe deposit boxes by the renters thereof during the periods for which such persons have paid rent therefore therefor in advance to VISIONBANK ONE, subject to the agreed allocation of such rents, which allocation shall be satisfied in full by SELLER BANK ONE paying to BUYERCNB, in the manner specified in Section 6.4 6.04 hereof, the amount of rental payment received by VISION BANK ONE for each such safe deposit box attributable to and prorated to reflect the period from and after the Closing Date, subject to the provisions of the applicable leases or other agreements relating to such boxes; and (iii) all safekeeping items and agreements listed on Schedule E D to this Agreement and delivered to BUYER CNB by SELLER BANK ONE pursuant to this Agreement, including, but not limited to, all applicable safekeeping agreements, memoranda, or receipts so delivered to BUYER CNB by SELLER BANK ONE hereunder.

Appears in 1 contract

Samples: Office Purchase and Assumption Agreement (American Bancorporation /Wv/)

Liabilities Under Leases/Safe Deposit Business. Assume and thereafter fully and timely perform and discharge, in accordance with their respective terms, all of the liabilities and obligations of VISION Seller arising after the Closing Date with respect to: (i) all leases listed on Schedules B and E to this Agreement I (including safe deposit leases if any) and sold, assigned or transferred to BUYER Buyer by SELLER Seller pursuant to this Agreement; (ii) the safe deposit business of the Offices including, but not limited to, the maintenance of all necessary facilities for the use of safe deposit boxes by the renters thereof during the periods for which such persons have paid rent therefore in advance to VISIONBranches, subject to the agreed allocation of such the prepaid rents, which allocation shall be satisfied in full by SELLER Seller paying to BUYERBuyer, in the manner specified in Section 6.4 6.04 hereof, the amount of rental payment received by VISION Seller for each such safe deposit box attributable to and prorated to reflect the period from and after the Closing Date, subject to the provisions of the applicable leases or other agreements relating to such the safe deposit boxes; and (iii) all safekeeping items and agreements listed on Schedule E to this Agreement I and delivered to BUYER Buyer by SELLER Seller pursuant to this Agreement, including, but not limited to, all applicable safekeeping agreements, memoranda, or receipts so delivered to BUYER Buyer by SELLER Seller hereunder.

Appears in 1 contract

Samples: Branch Purchase and Assumption Agreement (Banc Corp)

AutoNDA by SimpleDocs

Liabilities Under Leases/Safe Deposit Business. Assume and thereafter fully and timely perform and discharge, in accordance with their respective terms, all of the liabilities and obligations of VISION SELLER arising after the Closing Date with respect to: (i1) all leases listed on Schedules B and E to this Agreement (including safe deposit leases if any) and sold, assigned or transferred to BUYER by SELLER pursuant to this Agreement; (ii2) the safe deposit business of the Offices including, but not limited to, the maintenance of all necessary facilities for the use of safe deposit boxes by the renters thereof during the periods for which such persons have paid rent therefore therefor in advance to VISION, subject to the agreed allocation of such rentsBanc One, which allocation shall be satisfied in full by liability or obligation SELLER paying to BUYER, in has assumed at the manner specified in Section 6.4 hereof, the amount of rental payment received by VISION Banc One Closing for each such safe deposit box attributable to and prorated to reflect the period from and after the Closing Datedate of the Banc One Closing, subject to the provisions of the applicable leases or other agreements relating to such boxes; and (iii3) all safekeeping items and agreements listed on Schedule E to this Agreement and delivered to BUYER by SELLER pursuant to this Agreement, including, but not limited to, all applicable safekeeping agreements, memoranda, or receipts so delivered to BUYER by SELLER hereunder.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Peoples Bancorp Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!