Common use of Notices to Depositors Clause in Contracts

Notices to Depositors. Seller shall provide Buyer, as soon as practicable, with a customer list regarding the accounts to be assumed by Buyer as contemplated herein, together with data tapes. On the Closing Date, Seller shall provide Buyer a final customer list of the assumed accounts. At the time that Seller provides to Buyer the customer lists pursuant to this paragraph, Seller shall notify Buyer of any customer addresses which Seller is aware are invalid. As soon as practicable after receipt of all required regulatory approvals, Seller shall notify the holders of the Deposits to be assumed by Buyer that, subject to closing requirements, Buyer will be assuming the liability of the Deposits and will not continue services provided by Seller which are not routinely offered by Buyer. The notification will be based on the list and data tapes referred to in the preceding paragraph and a listing maintained at Seller's Branch of the new accounts opened since the date of the list. Buyer shall send notification to the same holders setting out the details of its administration of the assumed accounts. Each Party shall obtain the approval of the other of its notification letter(s), which approval shall not be unreasonably withheld or delayed.

Appears in 3 contracts

Samples: Purchase Assets and Assume Liabilities (Bank Plus Corp), Agreement (Bank Plus Corp), Bank Plus Corp

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Notices to Depositors. Seller shall provide Buyer, as soon as practicablepracticable and in any event prior to the Closing, with a customer list regarding the accounts to be assumed by Buyer as contemplated herein, together with data tapes. On the Closing Date, Seller shall provide Buyer a final customer list of the assumed accounts. At the time that Seller provides to Buyer the customer lists pursuant to this paragraph, Seller shall notify Buyer of any customer addresses which Seller is aware are invalid. As soon as practicable after receipt of all required regulatory approvals, Seller shall notify the holders of the Deposits to be assumed by Buyer that, subject to closing requirements, Buyer will be assuming the liability of the Deposits and will may not continue services provided by Seller which are not routinely offered by Buyer. The notification will be based on the list and data tapes referred to in the preceding paragraph and a listing maintained at Seller's Branch of the new accounts opened since the date of the list. Buyer shall send notification to the same holders setting out the details of its administration of the assumed accounts. Each Party shall obtain the approval of the other of its notification letter(s), which approval shall not be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Bank Plus Corp)

Notices to Depositors. Seller shall use its best efforts to provide Buyer, as soon as practicable, with a Buyer an intermediate customer list regarding of the accounts Deposits to be assumed by Buyer as contemplated hereinassumed, together with data tapesone (1) set of mailing labels, as of month-end prior to the Closing Date. On the Closing Date, Seller shall provide Buyer a final customer list of on the assumed accountsDeposits. At least fourteen (14) days before the time that Seller provides to Buyer the customer lists pursuant to this paragraphClosing (or on such earlier or later date as may be required by law), Seller shall notify Buyer of any customer addresses which Seller is aware are invalid. As soon as practicable after receipt of all required regulatory approvals, Seller shall notify mail notice (the "Notification") to the holders of the Deposits to be assumed by Buyer that, subject to the closing requirements, Buyer will be assuming the liability of the Deposits and will not continue services provided by Seller which are not routinely offered by BuyerDeposits. The notification Notification will be based on the list and data tapes labels referred to in the preceding paragraph above and a listing log maintained at Seller's the Branch of the new accounts opened since the date of the said list. Seller shall provide Buyer with a copy of said log up to the date of Seller's mailing. After Seller has mailed the Notification, Buyer shall send notification to the same holders setting out the details of its administration of the assumed accountsaccounts and may, with Seller's prior written consent (which shall not be unreasonably withheld), communicate with and mail information, brochures, bulletins, press releases and other communications to depositors of the Branch concerning the business and operations of Buyer. Each Party party shall obtain the other party's approval of the other of its notification letter(s), which approval shall not ) and any other communications to depositors of the Branch regarding the transactions contemplated hereby. The Notification may be unreasonably withheld or delayedmade jointly if [i] it is permitted by applicable statutes and regulations and [ii] Seller and Buyer can agree to the content thereof.

Appears in 1 contract

Samples: Agreement to Purchase Assets and Assume Liabilities (Republic Bancorp Inc /Ky/)

Notices to Depositors. Seller shall provide Buyer, as soon as practicable, with a customer list regarding the accounts to be assumed by Buyer as contemplated herein, together with data tapes. On the Closing Date, Seller shall provide Buyer a final customer list of the assumed accountsDeposits, which shall be updated as of any subsequent conversion date. At the time that Seller provides to Buyer the customer lists pursuant to this paragraph, Seller shall notify Buyer of any customer addresses which Seller is aware are invalid. As soon as practicable after receipt of all required regulatory approvals, Seller shall notify the holders of the Deposits to be assumed by Buyer that, subject to closing requirements, Buyer will be assuming the liability of the Deposits and will not continue services provided by Seller which are not routinely offered by Buyer. The notification will be based on the list and data tapes referred to in the preceding paragraph and a listing maintained at Seller's Branch of the new accounts opened since the date of the list. Buyer shall send notification to the same holders setting out the details of its administration of the assumed accounts. Each Party shall obtain the approval of the other of its notification letter(s), which approval shall not be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Agreement to Purchase (Bank Plus Corp)

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Notices to Depositors. Seller shall use its best efforts to provide Buyer, as soon as practicable, with a Purchaser an intermediate customer list regarding (on paper and on a computer diskette) of the accounts Deposits to be assumed by Buyer as contemplated herein, together with data tapesof forty-five days prior to the Closing. On the Closing Date, Seller shall provide Buyer a final customer list of the assumed accountsSeller Deposit Liabilities. At least fourteen (14) days before the time that Seller provides Closing (or on such earlier or later date as may be required by law), Purchaser shall mail notice (the "Notification") to Buyer the customer lists pursuant to this paragraph, Seller shall notify Buyer of any customer addresses which Seller is aware are invalid. As soon as practicable after receipt of all required regulatory approvals, Seller shall notify the holders of the Deposits Deposit Accounts to be assumed by Buyer that, subject to the closing requirements, Buyer Purchaser will be assuming the liability of the Deposits and will not continue services provided by Seller which are not routinely offered by BuyerDeposit Liabilities. The notification Notification will be based on the list and data tapes labels referred to in the preceding paragraph above and a listing log maintained at Seller's Branch the Seller Office of the new accounts opened since the date of the said list. Buyer Seller shall send notification provide Purchaser with a copy of said log up to the same holders setting date of Seller's mailing. In the Deposit Account Notification, Purchaser shall set out the details of its administration of the assumed accountsaccounts and may, with Seller's prior written consent (which shall not be unreasonably withheld), communicate and mail information, brochures, bulletins, press releases and other communications to depositors of the Seller Office concerning the business and operations of Purchaser. Each Party party shall obtain the other party's prior approval of the other of its notification letter(s), ) and any other communications to depositors of the Seller Office regarding the transactions contemplated hereby (which approval shall not be unreasonably withheld or delayedwithheld). The Notification may be made jointly if (a) it is permitted by applicable statutes and regulations and (b) Seller and Purchaser can agree to the content thereof.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Republic Bancorp Inc /Ky/)

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