Common use of Negative Operating Covenants Clause in Contracts

Negative Operating Covenants. Except as may be required by regulatory authorities, Seller shall not, without the prior written consent of Purchaser: (i) transfer to Seller's other banking facility any of the deposit liabilities maintained at the Branches, except upon the unsolicited request of a depositor in the ordinary course of business; (ii) transfer to the Branches any of the deposits domiciled at its other banking facilities except upon the unsolicited request of a depositor in the ordinary course of business; (iii) transfer, assign, encumber or otherwise dispose of or enter into any contract, agreement or understanding to transfer, assign, encumber or otherwise dispose of any of the Assets; (iv) enter into any contract, commitment, or other transaction relating to the Branches, except for deposit-taking and lending activities in the ordinary course of business consistent with past practices; (v) offer interest rates on any deposit liabilities at the Branches in excess of those interest rates paid on similar deposits at Seller's other banking facilities; or (f) alter its current advertising or marketing programs at the Branches in any material respect, other than as part of a general advertising or marketing campaign implemented by Seller company-wide.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (Pab Bankshares Inc), Purchase and Assumption Agreement (Heritage Financial Group)

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Negative Operating Covenants. Except as may be required by regulatory authorities, Seller shall not, without the prior written consent of Purchaser: (ia) transfer to Seller's other banking facility any of the deposit liabilities maintained at the Branches, Branch except upon the unsolicited request of a depositor in the ordinary course of business; (iib) transfer to the Branches Branch any of the deposits domiciled at its other banking facilities facility except upon the unsolicited request of a depositor in the ordinary course of business; (iiic) transfer, assign, encumber or otherwise dispose of or enter into any contract, agreement or understanding to transfer, assign, encumber or otherwise dispose of any of the Assets; (ivd) enter into any contract, commitment, or other transaction relating to the BranchesBranch, except for deposit-deposit taking and lending activities in the ordinary course of business consistent with past practices; (ve) offer interest rates on any deposit liabilities at the Branches Branch in excess of those interest rates paid on similar deposits at Seller's other banking facilitiesfacility; or (f) alter its current advertising or marketing programs at the Branches Branch in any material respect, other than as part of a general advertising or marketing campaign implemented by Seller company-company wide.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (Sound Financial, Inc.), Purchase and Assumption Agreement (Sound Financial, Inc.)

Negative Operating Covenants. Except as may be required by regulatory authorities, Seller shall not, without the prior written consent of Purchaser: (i) transfer to Seller's other banking facility any of the deposit liabilities maintained at the Branches, Branch except upon the unsolicited request of a depositor in the ordinary course of business; (ii) transfer to the Branches Branch any of the deposits domiciled at its other banking facilities except upon the unsolicited request of a depositor in the ordinary course of business; (iii) transfer, assign, encumber or otherwise dispose of or enter into any contract, agreement or understanding to transfer, assign, encumber or otherwise dispose of any of the Assets; (iv) enter into any contract, commitment, or other transaction relating to the BranchesBranch, except for deposit-taking and lending activities in the ordinary course of business consistent with past practices; (v) offer interest rates on any deposit liabilities at the Branches Branch in excess of those interest rates paid on similar deposits at Seller's other banking facilities; or (f) alter its current advertising or marketing programs at the Branches Branch in any material respect, other than as part of a general advertising or marketing campaign implemented by Seller company-wide.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Heritage Financial Group)

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Negative Operating Covenants. Except as may be required by regulatory authorities, Seller shall not, without the prior written consent of Purchaser: (i) transfer to Seller's ’s other banking facility facilities any of the deposit liabilities maintained at the BranchesBranch, except upon the unsolicited request of a depositor in the ordinary course of business; (ii) transfer to the Branches Branch any of the deposits domiciled at its other banking facilities except upon the unsolicited request of a depositor in the ordinary course of business; (iii) transfer, assign, encumber or otherwise dispose of or enter into any contract, agreement or understanding to transfer, assign, encumber or otherwise dispose of any of the Assets; (iv) enter into any contract, commitment, or other transaction relating to the BranchesBranch, except for deposit-taking and lending activities in the ordinary course of business consistent with past practices; (v) offer interest rates on any deposit liabilities at the Branches Branch in excess of those interest the prevailing market rates paid on for similar deposits at Seller's other banking facilitiesin the Tyler, Texas market; or (fvi) alter its current advertising or marketing programs at the Branches Branch in any material respect, other than as part of a general advertising or marketing campaign implemented by Seller company-wide.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Beacon Federal Bancorp, Inc.)

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