Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof. (ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 174 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (Bbva Compass Bancshares, Inc), Purchase and Assumption Agreement (Midland States Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 41 contracts
Samples: Purchase and Assumption Agreement (Great Western Bancorp, Inc.), Purchase and Assumption Agreement (Talmer Bancorp, Inc.), Purchase and Assumption Agreement (North American Financial Holdings, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 35 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 33 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (First NBC Bank Holding Co)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 27 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date until the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costscosts (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (1) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution, and (y2) the amount shall be limited to market rental value and operating costs for the space not occupied by other tenants), and (B) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of from the Bank Closing Date until the Bank Premises Surrender Date (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (A) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such occupancyBank Premises from the Assuming Institution, and (B) the amount shall be limited to rent for owned or leased Furniture and Equipment, owned or leased Fixtures and Specialty Assets located on or at the Bank Premises in the space not occupied by other tenants). Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)other provision of this Agreement to the contrary, the amount Assuming Institution shall not be liable for any of any rents paid the costs imposed by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereofthis Section 4.6(e).
Appears in 7 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement, Purchase and Assumption Agreement (Hancock Holding Co)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank PremisesPremises (other than those owned by Excluded Subsidiaries), all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank PremisesPremises (other than those owned Excluded Subsidiaries), to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 6 contracts
Samples: Purchase and Assumption Agreement (Iberiabank Corp), Purchase and Assumption Agreement, Purchase and Assumption Agreement (Iberiabank Corp)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to the appropriate third Excluded Subsidiary or other parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises owned by any Excluded Subsidiary the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises Excluded Subsidiary in accordance with Section 4.6(a4.16(a), the amount of any rent paid (and taxes paid to the Receiver or the applicable Excluded Subsidiary which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of Bank Premises owned or leased Bank Premises, by an Excluded Subsidiary to pay to the Receiver Receiver, or to the appropriate Excluded Subsidiary, rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank any Excluded Subsidiary shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver or the appropriate Excluded Subsidiary incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures Excluded Subsidiary in accordance with Section 4.6(f) or 4.6(h4.16(a), the amount of any rents paid by the Assuming Bank with respect thereto to Fixtures and Furniture and Equipment owned by such Excluded Subsidiary shall be applied as an offset against the purchase price thereof.
Appears in 6 contracts
Samples: Purchase and Assumption Agreement (Iberiabank Corp), Purchase and Assumption Agreement, Purchase and Assumption Agreement (Iberiabank Corp)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. , Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.,
Appears in 4 contracts
Samples: Purchase and Assumption Agreement (BankUnited, Inc.), Purchase and Assumption Agreement (BankUnited, Inc.), Purchase and Assumption Agreement (BankUnited, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or Equipment, owned Fixtures or Specialty Assets in accordance with Section Sections 4.6(f), 4.6(h) or 4.6(h4.6(j), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e).
Appears in 4 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (Hilltop Holdings Inc.), Purchase and Assumption Agreement (Heritage Financial Group Inc)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.. Whole Bank P&A w/Loss Sharing 17 Suburban Federal Savings Bank January 30, 2009 Crofton, MD
Appears in 3 contracts
Samples: Purchase and Assumption Agreement (Community Bankers Trust Corp), Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 3 contracts
Samples: Purchase and Assumption Agreement (Heritage Financial Corp /Wa/), Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase such Bank Premises under Section 4.6(a) or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (B) for leased Bank Premises and for leased Fixtures, rent, as provided in the applicable lease, and all Bank Premises Operating Costs for the period from the Bank Closing Date until (y1) the date the Receiver receives written notice from the Assuming Institution of its election to accept assignment of the lease for such Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution shall comply with the terms of applicable leases on leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation limitation, the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution shall pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures Fixtures, and all Specialty Assets located in space not occupied by other tenants and on such or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market its rental value thereofrate, as determined by the Receiver within sixty (60) no later than 60 days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution shall not be liable for any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(fof the costs imposed by Sections 4.6(e)(i) or 4.6(h4.6(e)(ii), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 3 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase that Bank Premises under Section 4.6(a), or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within No later than sixty (60) days after the Bank ClosingClosing Date, the Receiver will determine the rent for that property owned by the Failed Bank. Rent for such that property leased property shall by the Failed Bank will be an amount equal to any and all rent and other amounts which that the Receiver incurs or accrues as an obligation or is obligated to pay for such that period of occupancy pursuant to all leases and contracts with respect to such that property.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the costs imposed by Sections 4.6(e)(i) or 4.6(e)(ii). If the Assuming Institution elects not to accept an assignment of any lease or purchase one or more of the owned Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Premises under this Section 4.6(f) or 4.6(h4.6(e)(iii), the amount provisions of any rents paid by the Assuming Section 4.8(a) will not apply to service agreements related to those Bank with respect thereto shall be applied as an offset against the purchase price thereofPremises.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (Fulton Financial Corp), Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Version 1.12 November 17, 2009 19 FIRST REGIONAL BANK Los Angeles, CA
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/), Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costs, Bank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase such Bank Premises under Section 4.6(a) or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to accept assignment of the lease for such Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation limitation, the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution shall pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment Equipment, and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market its rental value thereofrate, as determined by the Receiver within sixty (60) no later than 60 days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution shall not be liable for any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(fof the costs imposed by Sections 4.6(e)(i) or 4.6(h4.6(e)(ii), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay pay. to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (Bond Street Holdings Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Optional Shared Loss Agreements Coastal Bank Version 3.01 — Purchase and Assumption Agreement Cocoa Beach, FL December 8, 2010
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (Bond Street Holdings Inc)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.sixty
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in Module 1 – Whole Bank w/ Loss Share – P&A United Americas Bank, N.A. Version 2.11B Atlanta, Georgia October 8, 2010 accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (State Bank Financial Corp), Purchase and Assumption Agreement (State Bank Financial Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Bank of Florida — Southeast Version 2.05 Fort Lauderdale, Florida May 25, 2010
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (EverBank Financial Corp), Purchase and Assumption Agreement (EverBank Financial Corp)
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase that Bank Premises under Section 4.6(a), or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (B) for leased Bank Premises rent, as provided in the applicable lease, and all Bank Premises Operating Costs for the period from the Bank Closing Date until (y1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with the terms of applicable leases on leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within No later than sixty (60) days after the Bank ClosingClosing Date, the Receiver will determine the rent for that property owned by the Failed Bank. Rent for such that property leased property shall by the Failed Bank will be an amount equal to any and all rent and other amounts which that the Receiver incurs or accrues as an obligation or is obligated to pay for such that period of occupancy pursuant to all leases and contracts with respect to such that property.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the costs imposed by Sections 4.6(e)(i) or 4.6(e)(ii). If the Assuming Institution elects not to accept an assignment of any lease or purchase one or more of the owned Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Premises under this Section 4.6(f) or 4.6(h4.6(e)(iii), the amount provisions of any rents paid by the Assuming Section 4.8(a) will not apply to service agreements related to those Bank with respect thereto shall be applied as an offset against the purchase price thereofPremises.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture Module 1 — Whole Bank w/ Loss Share — P&A PREMIER AMERICAN BANK Version 1.12 MIAMI, FLORIDA November 17, 2009 and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (Bond Street Holdings Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Bank of Florida — Southwest Version 2.05 Naples, Florida April 26, 2010
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (EverBank Financial Corp), Purchase and Assumption Agreement (EverBank Financial Corp)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in Module 1 — Whole Bank w/ Loss Share — P&A Security Banks Version 1.07 Georgia July 20, 2009 accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (State Bank Financial Corp), Purchase and Assumption Agreement (STATE BANK FINANCIAL Corp)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Florida Community Bank Version 1.12 Immokalee, FL November 17, 2009
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (Bond Street Holdings Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on Module 1 — Whole Bank w/ Optional Shared Loss Agreements First Peoples Bank Version 3.1.1 — Purchase and Assumption Agreement Port St. Lucie, Florida April 27, 2011 such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (Bond Street Holdings Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver): (A) for owned Bank Premises, during the market rental rate and all Bank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of any occupancy by it of its election to purchase that Bank Premises under Section 4.6(a), or (x2) the Bank Premises Surrender Date for owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within No later than sixty (60) days after the Bank ClosingClosing Date, the Receiver will determine the rent for that property owned by the Failed Bank. Rent for such that property leased property shall by the Failed Bank will be an amount equal to any and all rent and other amounts which that the Receiver incurs or accrues as an obligation or is obligated to pay for such that period of occupancy pursuant to all leases and contracts with respect to such that property.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the costs imposed by Sections 4.6(e)(i) or 4.6(e)(ii). If the Assuming Institution elects not to accept an assignment of any lease or purchase one or more of the owned Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(hPremises under this 4.6(e)(iii), the amount provisions of any rents paid by the Assuming Section 4.8(a) will not apply to service agreements related to those Bank with respect thereto shall be applied as an offset against the purchase price thereofPremises.
Appears in 2 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement
Occupancy Costs. The Tenant shall be responsible for all costs and expenses incurred during the Term whether incurred by the Tenant directly or by or on behalf of the Landlord or any manager or agent of the Landlord in or with respect to the occupancy, complete decoration, repair, administration, maintenance, improvement, replacement and operation of the Leased Premises calculated in accordance with generally accepted accounting principles and including, without limiting the generality of the foregoing, but without duplication and without profit:
(a) all charges for the cost of heating, cooling and ventilating the Building, hot and cold water and all charges for electricity, gas and all other similar services and utilities provided to the Leased Premises;
(b) the cost of providing, maintaining and replacing as necessary landscaping and gardening and the cost of snow and refuse removal, if requested by the Tenant;
(c) the cost of cleaning services to the Leased Premises, including the cost of window cleaning, if requested by the Tenant;
(d) the cost of all repairs and replacements (save and except structural repairs or replacements) to or with respect to the Leased Premises as well as the cost of any improvement or repair which is required to be made to the Leased Premises by any change in the laws, rules, regulations or orders of any governmental authority having jurisdiction;
(e) the cost of all insurance maintained by the Landlord pursuant to Section 9.1; and
(f) the annual amortization including interest at the Prime Rate on the unamortized amount (on a straight-line basis over the useful life or such other period as reasonably determined by the Landlord in accordance with generally accepted accounting principles) of the cost of any modifications, replacements or additions of a capital nature to the Leased Premises and/or the machinery and equipment (but not including the machinery and equipment used in the operation of the solar business) therein and thereon, where in the reasonable opinion of the Landlord such modifications, replacements or additions are intended to have the effect of reducing occupancy costs or resulting in energy savings or resulting in increased security, or any additional equipment or improvements required by legal requirements not in effect at the Commencement Date of the Lease and not to remedy any construction inadequacy or non-compliance with legal requirements in effect at the Commencement Date, or which in the Landlord’s reasonable opinion are for the benefit or safety of users of the Land. Notwithstanding the foregoing, occupancy costs shall exclude the following, except if specifically included above:
(g) interest and principal payments on financing of the Landlord, and any other debt costs or ground lease rent of the Landlord;
(h) costs or expenses incurred with respect to the acquisition, development and construction and landscaping of the Leased Premises and any expansion thereof;
(i) The Assuming Bank agrees depreciation;
(j) costs and expenses relating to pay structural repairs or replacements of the Leased Premises;
(k) costs or expenses resulting from any inadequacy in the design or construction of the Leased Premises or with respect to poor workmanship or materials in connection with such construction;
(l) any administrative, management and overhead costs of the Landlord;
(m) all costs incurred in connection with the rectification of any work done by the Landlord in the Leased Premises which did not comply with and conform to every applicable statute, law, by-law, and regulation as of the Commencement Date;
(n) income taxes and other taxes personal to the ReceiverLandlord;
(o) the amount of any sales tax, goods and services tax, value added tax or any similar tax (“Sales Tax”) paid or payable by the Landlord on the purchase of goods and services included in occupancy costs which is available to appropriate third parties at the direction Landlord as a credit in determining the Landlord’s net tax liability or refund on account of Sales Tax, but only to the extent that Sales Tax is included in occupancy costs;
(p) the cost of any insurance premiums relating to risks or amounts which are not normally insured against by reasonably prudent owners of similar buildings;
(q) Capital Tax;
(r) any cost which would otherwise be included in occupancy costs, but consists of an amount paid to a corporate affiliate, parent or subsidiary of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessmentsLandlord, to the extent not included that such amount is in excess of the rental fair market value of the said item or rent. If service were the Assuming Bank elects to purchase any owned Bank Premises expense incurred in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.arm’s-length transaction; and
(iis) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the any costs which are above market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereofcosts.
Appears in 2 contracts
Samples: Lease Agreement (Photowatt Technologies Inc.), Lease Agreement (Photowatt Technologies Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Version 2.05 April 26, 2010 Bank of Florida — Tampa Bay Tampa, Florida
Appears in 2 contracts
Samples: Purchase and Assumption Agreement (EverBank Financial Corp), Purchase and Assumption Agreement (EverBank Financial Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any Module 1 – Whole Bank w/ Optional Shared Loss Agreements Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT April 27, 2011 19 One Georgia Bank Atlanta, Georgia occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any Module 1 — Whole Bank w/ Optional Shared Loss Agreements Peoples State Bank Version 3.0 — PURCHASE AND ASSUMPTION AGREEMENT City, State December 8, 2010 occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Talmer Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)Module 1 – Whole Bank w/ Loss Share – P&A Version 1.02 March 16, the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.2009 17 TeamBank, N.A. Paola, Kansas
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Module 4 — Whole Bank — P&A Sonoma Valley Bank Version 2.04 Sonoma, California July 16, 2010
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Westamerica Bancorporation)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Home Valley Bank Version 2.07 Cave Junction, Oregon June 10, 2010 20
Appears in 1 contract
Samples: Purchase and Assumption Agreement (South Valley Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date until the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costscosts (provided, however, that, for owned Bank Premises the Receiver chooses to manage under Section 4.6(a)(ii) and the Assuming Institution elects to purchase under Section 4.6(a)(i), (1) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution, and (y2) the amount shall be limited to market rental value and operating costs for the space not occupied by other tenants), and (B) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of from the Bank Closing Date until the Bank Premises Surrender Date (provided, however, that, for owned Bank Premises the Receiver chooses to manage under Section 4.6(a)(ii) and the Assuming Institution elects to purchase under Section 4.6(a)(i), (A) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such occupancyBank Premises from the Assuming Institution, and (B) the amount shall be limited to rent for owned or leased Furniture and Equipment, owned or leased Fixtures and Specialty Assets located on or at the Bank Premises in the space not occupied by other tenants). Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)other provision of this Agreement to the contrary, the amount Assuming Institution shall not be liable for any of any rents paid the costs imposed by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereofthis Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Howard Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Optional Shared Loss Agreements Citizens Bank of Effingham Version 3.0– Purchase and Assumption Agreement Springfield, Georgia December 8, 2010
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Heritage Financial Group Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any Module 1 – Whole Bank w/ Optional Shared Loss Agreements Community Central Bank Version 3.01 – PURCHASE AND ASSUMPTION AGREEMENT Mount Clemens, MI December 8, 2010 occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Talmer Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Financial Bancorp /Oh/)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Module 1 – Whole Bank w/ Loss Share – P&A 20 Satilla Community Bank Version 2.05 St. Marys Georgia April 26, 2010 Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase such Bank Premises under Section 4.6(a) or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (B) for leased Bank Premises rent, as provided in the applicable lease, and all Bank Premises Operating Costs for the period from the Bank Closing Date until (y1) the date the Receiver receives written notice from the Assuming Institution of its election to accept assignment of the lease for such Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution shall comply with the terms of applicable leases on leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation limitation, the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution shall pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment Equipment, and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market its rental value thereofrate, as determined by the Receiver within sixty (60) no later than 60 days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution shall not be liable for any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(fof the costs imposed by Sections 4.6(e)(i) or 4.6(h4.6(e)(ii), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, Module 1 – Whole Bank w/ Optional Shared Loss Agreements Version 3.01 – PURCHASE AND ASSUMPTION AGREEMENT December 8, 2010 19 New Horizons Bank East Ellijay, Georgia without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Citizens South Banking Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A LIBERTYPOINTE BANK Version 2.01 NEW YORK, NEW YORK February 24, 2010 19
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Valley National Bancorp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Whole Bank w/ Optional Shared Loss Agreements Version 4.2.2 – Purchase And Assumption Agreement June 1, 2012 21 Pxxxxx State Bank Palatka, Florida
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (HCBF Holding Company, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) P & A with Loan Pools and Exhibits 19 ANB Financial N.A. 6 May 2008 Bentonville, AR owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Iberiabank Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the Module 1 – Whole Bank w/ Loss Share – P&A 20 The Cowlitz Bank Version 2.07 Longview, Washington June 10, 2010 period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Heritage Financial Corp /Wa/)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of Module 1 – Whole Bank w/ Loss Share – P&A Westernbank Puerto Rico Version 2.03 Mayaguez, Puerto Rico April 13, 2010 occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Modified Whole Bank w/ Loss Share – P&A Xxxxx Union, FSB Version 1.08 Columbus, IN July 24, 2009
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Financial Bancorp /Oh/)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming P & A 991022 19 Reliance Bank, White Plains, NY Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Usb Holding Co Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or Standard P&A Agreement Version 4.2 – PURCHASE AND ASSUMPTION AGREEMENT April 24, 2012 25 Xxxxxxxxxx Bank & Trust Xxxxx, Georgia accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental rental
Module 1 Whole Bank w/ Loss Share – P&A Community First Bank Version 1.07 18 Prineville, Oregon July 14, 2009 value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Home Federal Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, Module 1 – Whole Bank w/ Optional Shared Loss Agreements 19 High Trust Bank Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT Stockbridge, Georgia April 27, 2011 Table of Contents without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all Module 1 – Whole Bank w/Optional Shared Loss Agreements 20 Bank of Xxxxxxx Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT COLFAX, WASHINGTON April 27, 2011 operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Columbia Banking System Inc)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A NEIGHBORHOOD COMMUNITY BANK Version 1.05 18 NEWNAN, GEORGIA June 16, 2009
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Charter Financial Corp/Ga)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be Whole Bank w/ Optional Shared Loss Agreements 21 The Royal Palm Bank of Florida Version 4.2.2 - PURCHASE AND ASSUMPTION AGREEMENT Naples, Florida June 1, 2012 an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (TGR Financial, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of of
Module 1 Whole Bank w/ Loss Share – P&A Version 2.09A August 17, 2010 00 Xxxxx Xxxxxx Xxxx Xxxxxxxxx, Xxxxxxxxxx applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Washington Banking Co)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, Module 1 – Whole Bank w/ Optional Shared Loss Agreements 21 Plantation Federal Bank Version 4.1 – PURCHASE AND ASSUMPTION AGREEMENT Pawleys Island, SC February 21, 2012 without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Financial Holdings Inc /De/)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Module 1 - Whole Bank w/ Optional Shared Loss Agreements Version 3.2 - Purchase and Assumption Agreement July 15, 2011 Community Banks of Colorado Greenwood Village, Colorado
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (NBH Holdings Corp.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the 00 Xxxxxxx Xxxxxx Xxxxxx Xxxx, XX Version 13 2 - PURCHASE AND ASSUMPTION AGREEMENT Santa Clara, California Bank Closing Date until ( 1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase that Bank Premises under Section 4.6(a), or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until ( 1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within No later than sixty (60) days after the Bank ClosingClosing Date, the Receiver will determine the rent for that property owned by the Failed Bank. Rent for such that property leased property shall by the Failed Bank will be an amount equal to any and all rent and other amounts which that the Receiver incurs or accrues as an obligation or is obligated to pay for such that period of occupancy pursuant to all leases and contracts with respect to such that property.
(iii) Subject to Section 4. 1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen ( 15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the costs imposed by Sections 4.6(e)(i) or 4.6(e)(ii). If the Assuming Institution elects not to accept an assignment of any lease or purchase one or more of the owned Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Premises under this Section 4.6(f) or 4.6(h4.6(e)(iii), the amount provisions of any rents paid by the Assuming Section 4.8(a) will not apply to service agreements related to those Bank with respect thereto shall be applied as an offset against the purchase price thereofPremises.
Appears in 1 contract
Samples: Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60)
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days after of the Bank ClosingClosing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e). Rent for such leased property shall be an amount equal (f) Certain Requirements as to any Fixtures, Furniture and all rent Equipment and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such propertyCertain Specialty Assets. If the Assuming Institution purchases owned Bank purchases Premises (including any Bank Premises purchased at the fixed price shown on the Bid Form) or accepts an assignment of the lease (or enters into a sublease or a new lease in lieu thereof) for leased Bank Premises as provided in Section 4.6(a) or 4.6(b), or if the Assuming Institution does not exercise either such option, but within twelve (12) months following the Bank Closing Date obtains the right to occupy all or any portion of such Bank Premises (the “Subsequently Occupied Space”), whether by assignment, lease, sublease, purchase or otherwise, other than in accordance with Section 4.6(a) or 4.6(b), the Assuming Institution shall (i) effective as of the Bank Closing Date, purchase from the Receiver all Fixtures, all Furniture and Equipment, and all Specialty Assets with an appraised value (as determined in accordance with Section 4.6(j)) of less than $10,000 owned by the Failed Bank and located on or at the Subsequently Occupied Space as of the Bank Closing Date at Fair Market Value , (ii) accept an assignment or a sublease of the leases or negotiate new leases for all Fixtures and Furniture and Equipment leased by the Failed Bank and located on or at the Subsequently Occupied Space, and (iii) if applicable, accept an assignment or a sublease of any ground lease or negotiate a new ground lease with respect to any land on which the Subsequently Occupied Space is located; provided that the Receiver has not previously disposed of such Fixtures or Furniture and Equipment or owned Fixtures Specialty Assets or repudiated the leases referred to in accordance with Section 4.6(fclause (ii) or 4.6(h(iii), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (WashingtonFirst Bankshares, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)Module 1 – Whole Bank w/ Loss Share – P&A Version 1.08 July 24, the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.0000 XXXXXX XXXX XXXXX XXXX, XXXX
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Legacy Bank Version 2.11B Scottsdale, Arizona October 8, 2010
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Enterprise Financial Services Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on Module 1 – Whole Bank w/ Optional Shared Loss Agreements Version 3.3.1 – PURCHASE AND ASSUMPTION AGREEMENT December 7, 2011 00 Xxxxxxx Xxxx xx Xxxxxxx Xxxxxxxxx, XX such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Bayside Savings Bank Version 2.07 Port Saint Xxx, Florida July 30, 2010
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Home Bancshares Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Horizon Bank Version 2.09A Bradenton, Florida August 17, 2010 20
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bank of the Ozarks Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A USA BANK Version 2.06 PORT CHESTER, NEW YORK May 24, 2010
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Customers Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Fixed Price Whole Bank w/ Optional Shared Loss Agreements First Southern National Bank Version 3.2 – PURCHASE AND ASSUMPTION AGREEMENT Statesboro, Georgia July 15, 2011
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Heritage Financial Group Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Version 2.11B October 8, 2010 20 Tifton Banking Company Tifton, GA
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely timely
Module 1 Whole Bank w/ Loss Share – P&A Version 2.01 February 24, 2010 19 Sun American Bank Boca Raton, Florida payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing taxing
Module 1— Whole Bank w/ Loss Share — P&A Version 2.09B September 13, 0000 XXX Xxxx Xxxxxx Xxxx, XX authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Customers Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase that Bank Premises under Section 4.6(a), or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver (or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other Version 13.2 – PURCHASE AND ASSUMPTION AGREEMENT Santa Clara, California tenants and on or at either (A) owned Bank Premises the Assuming Institution elects not to purchase or (B) leased Fixtures located on such Bank Premises for which the period of such occupancyAssuming Institution does not elect to assume the lease. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within No later than sixty (60) days after the Bank ClosingClosing Date, the Receiver will determine the rent for that property owned by the Failed Bank. Rent for such that property leased property shall by the Failed Bank will be an amount equal to any and all rent and other amounts which that the Receiver incurs or accrues as an obligation or is obligated to pay for such that period of occupancy pursuant to all leases and contracts with respect to such that property.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the costs imposed by Sections 4.6(e)(i) or 4.6(e)(ii). If the Assuming Institution elects not to accept an assignment of any lease or purchase one or more of the owned Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Premises under this Section 4.6(f) or 4.6(h4.6(e)(iii), the amount provisions of any rents paid by the Assuming Section 4.8(a) will not apply to service agreements related to those Bank with respect thereto shall be applied as an offset against the purchase price thereofPremises.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (xof(x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Polonia Bancorp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Module 4- Whole Bank – P&A Version 2.07 October 8, 0000 Xxxxx Xxxxxxxx Xxxx Xxxxxxxxxx, Xxxxxxxx
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Southern Missouri Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.. Module 4- Whole Bank – P&A The Tattnall Bank Version 1.06 Xxxxxxxxxx, Xxxxxxx Xxxxxxx 00, 0000
(iixx) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Heritage Financial Group)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of Module 1 – Whole Bank w/ Loss Share – P&A 19 Rainier Pacific Bank Version 2.00 Tacoma, Washington January 20, 2010 applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Umpqua Holdings Corp)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by Module 1 - Whole Bank w/ Optional Shared Loss Agreements Version 4.1 - Purchase and Assumption Agreement February 21. 2012 21 Inter Savings Bank, FSB Maple Grove, Minnesota the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. The lease for the Bank Premise located at 1000 Xxxxxxxxxxx Xxxx, Xxx Xxx, Xxxxxxxx is excluded from 4.6(e)(i)(B) and instead operating costs and rent will be determined under 4.6(e)(i)(A). If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or Equipment, owned Fixtures or Specialty Assets in accordance with Section Sections 4.6(f), 4.6(h) or 4.6(h4.6(j), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e). Basic P&A Agreement Version 6.2P – PURCHASE AND ASSUMPTION AGREEMENT Basic P&A Agreement
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bay Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Whole Bank w/ Optional Shared Loss Agreements Version 5.2 – Purchase and Assumption Agreement February 21, 2013 22 First Federal Bank Lexington, Kentucky
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or Equipment, owned Fixtures or Specialty Assets in accordance with Section Sections 4.6(f), 4.6(h) or 4.6(h4.6(j), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Community Bank Shares of Indiana Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date until the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costscosts (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (1) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution, and (y2) the amount shall be limited to market rental value and operating costs Basic P&A Agreement – 2/26/15 24 Doral Bank Version 6.4P – PURCHASE AND ASSUMPTION AGREEMENT San Xxxx, PR for the space not occupied by other tenants), and (B) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of from the Bank Closing Date until the Bank Premises Surrender Date (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (A) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such occupancyBank Premises from the Assuming Institution, and (B) the amount shall be limited to rent for owned or leased Furniture and Equipment, owned or leased Fixtures and Specialty Assets located on or at the Bank Premises in the space not occupied by other tenants). Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)other provision of this Agreement to the contrary, the amount Assuming Institution shall not be liable for any of any rents paid the costs imposed by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereofthis Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing Module 1 – Whole Bank w/ Loss Share – P&A Version 2.11A October 8, 2010 20 Dxxxx Bank & Trust Co. Vidalia, Georgia authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Version 2.07 July 30, 0000 Xxxxxxx Xxxxxxxxx Xxxx Xxxxxx Xxxx Xxxxx, XX
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Home Bancshares Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date until the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costscosts (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (1) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution, and (y2) the amount shall be limited to the rental rate, as determined by the Receiver, and operating costs for the space not occupied by other tenants), and (B) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value rate or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of from the Bank Closing Date until the Bank Premises Surrender Date (provided, however, that, for owned Bank Premises the Assuming Institution elects to purchase under Section 4.6(a)(i), (A) the time period shall be from the Bank Closing Date until the date the Receiver receives the purchase price for such occupancyBank Premises from the Assuming Institution, and (B) the amount shall be limited to rent for owned or leased Furniture and Equipment, owned or leased Fixtures and Specialty Assets located on or at the Bank Premises in the space not occupied by other tenants). Rent for such property owned by the Failed Bank shall be the market its rental value thereofrate, as determined by the Receiver within sixty (60) no later than 60 days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If .
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank purchases Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h)other provision of this Agreement to the contrary, the amount Assuming Institution shall not be liable for any of any rents paid the costs imposed by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereofthis Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on Module 1 – Whole Bank w/ Optional Shared Loss Agreements 21 First Guaranty Bank and Trust Company of Jacksonville Version 3.3.1– PURCHASE AND ASSUMPTION AGREEMENT Jacksonville, FL December 7, 2011 such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (CenterState Banks, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include,
Module 1 Whole Bank w/ Optional Shared Loss Agreements Atlantic Southern Bank
1.1 PURCHASE AND ASSUMPTION AGREEMENT Macon, Georgia May 20, 2011 without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Certusholdings, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on Module 1 – Whole Bank w/ Optional Shared Loss Agreements 21 Central Florida State Bank Version 3.3.1 – PURCHASE AND ASSUMPTION AGREEMENT Belleview, Florida December 7, 2011 such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (CenterState Banks, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any Module 1 – Whole Bank w/ Optional Shared Loss Agreements Version 3.01– PURCHASE AND ASSUMPTION AGREEMENT April 29, 2011 19 First Choice Community Bank Dallas, GA occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bank of the Ozarks Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution will pay the following amounts to the Receiver, Receiver (or to appropriate third parties at the direction of the Receiver, during and ): (A) for the period of any occupancy by it of (x) owned Bank Premises Premises, the market rental valuerate, as determined by the appraiser selected in accordance with the definition of Fair Market ValueReceiver, and all operating costsBank Premises Operating Costs (each for the space not occupied by other tenants) for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to purchase that Bank Premises under Section 4.6(a), or (2) the Bank Premises Surrender Date for owned Bank Premises the Assuming Institution elects not to purchase; and (yB) for leased Bank Premises, rent, as provided in the applicable lease, and all operating costs with respect thereto and Bank Premises Operating Costs for the period from the Bank Closing Date until (1) the date the Receiver receives written notice from the Assuming Institution of its election to accept an assignment of the lease for that Bank Premises under Section 4.6(b), or (2) the Bank Premises Surrender Date for leased Bank Premises for which the Assuming Institution does not elect to assume the lease. The Assuming Institution will comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during Institution will pay the period of occupancy by it of owned or leased Bank Premises, to pay following amounts to the Receiver ( or to appropriate third parties at the direction of the Receiver): rent for the use of period from the Bank Closing Date until the Bank Premises Surrender Date for all owned or leased Furniture and Equipment and all Specialty Assets located in space not occupied by other Version 13.2 - PURCHASBAND ASSUMPTION AGREEMENT SIGNATURE BRIDGE BANK, NA New York, New York
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned or leased Fixtures located on such Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, the Assuming Institution will not be liable for any of the period costs imposed by Sections 4.6( e)(i) or 4.6( e)(ii). If the Assuming Institution elects not to accept an assignment of such occupancyany lease or purchase one or more of the owned Bank Premises under this Section 4.6(e)(iii), the provisions of Section 4.8(a) will not apply to service agreements related to those Bank Premises. Rent (t) Certain Requirements as to Furniture and Equipment, and Certain Specialty Assets. If the Assuming Institution (i) purchases owned Bank Premises (including any Bank Premises purchased at the fixed price shown on the Bid) as provided in Section 4.6(a) or (ii) accepts an assignment of the lease ( or enters into a sublease or a new lease in lieu thereot) for such property leased Bank Premises as provided in Section 4.6(b ), or (iii) does not exercise either option, but within twelve (12) months following the Bank Closing Date obtains the right to occupy all or any portion of any Bank Premises, whether by assignment, lease, sublease, purchase, or otherwise, other than in accordance with Section 4.6(a) or Section 4.6(b) (each of the preceding, a "Subsequently Occupied Space"), the Assuming Institution will (A) effective as of the Bank Closing Date, purchase from the Receiver, at the item's purchase price specified on Schedule 3.2, all Specialty Assets with an appraised value (as determined in accordance with Section 4.6G)) of less than $10,000, and all Furniture and Equipment owned by the Failed Bank shall be and located on or at the market rental value thereofSubsequently Occupied Space as of the Bank Closing Date, as determined (B) accept an assignment or a sublease of the leases or negotiate new leases for all Furniture and Equipment leased by the Receiver within sixty Failed Bank and located on or at the Subsequently Occupied Space, and (60C) days after Bank Closing. Rent for such leased property shall be if applicable, accept an amount equal to assignment or a sublease of any and all rent and other amounts which the Receiver incurs ground lease or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts negotiate a new ground lease with respect to such property. If any land on which the Assuming Bank purchases any owned Subsequently Occupied Space is located; provided that the Receiver has not previously disposed of that Furniture and Equipment or owned Fixtures Specialty Assets or repudiated the leases referred to in accordance with Section 4.6(fclause (B) or 4.6(hclause (C), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (New York Community Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises. Surrender Date, the following amounts: (xA) owned for owned. Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or Equipment, owned Fixtures or Specialty Assets in accordance with Section Sections 4.6(f), 4.6(h) or 4.6(h4.6(j), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the Basic P&A Agreement (VB. Illinois). Valley Bank. Version 6..2P — PURCHASE AND ASSUMPTION AGREEMENT Moline, 1L conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any Module 1 – Whole Bank w/ Optional Shared Loss Agreements First Georgia Banking Company Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT Franklin, Georgia April 27, 2011 occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Certusholdings, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 — Whole Bank w/ Loss Share — P&A Version 1.07 July 14, 0000 XXXXXXXXX XXXXXXX XXXX XXXXXXXXXXXXX, XXX XXXX
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Evans Bancorp Inc)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Whole Bank w/ Optional Shared Loss Agreements Version 4.2.2 – PURCHASE AND ASSUMPTION AGREEMENT June 1, 2012 21 Security Exchange Bank Marietta, Georgia
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Fidelity Southern Corp)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.Section
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, value and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.. Whole Bank P&A w/Loss Sharing COUNTY BANK 6 February 2009 MERCED, CA
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Westamerica Bancorporation)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.with
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Midland States Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Module 1 – Whole Bank w/ Loss Share – P&A Western Commercial Bank Version 2.10B Woodlands Hills, California September 22, 2010 Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First California Financial Group, Inc.)
Occupancy Costs. (i) The Assuming Bank agrees to Institution shall pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of from the Bank Closing Date to the Bank Premises Surrender Date, the following amounts: (xA) for owned Bank Premises Premises, the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (yB) for leased Bank Premises, all operating costs with respect thereto and to thereto. The Assuming Institution shall comply with all relevant the terms of applicable leases entered into by the Failed Bankon leased Bank Premises, including without limitation the timely payment of all rent. Operating costs include, without limitation limitation, all taxes, fees, charges, maintenance, utilities, insurance and assessments, to the extent not included in the rental value or rent. The lease for the Bank Premise located at 1600 Xxxxxxxxxxx Xxxx, Xxx Xxx, Xxxxxxxx xs excluded from 4.6(e)(i)(B) and instead operating costs and rent will be determined under 4.6(e)(i)(A). If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to Institution shall pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and Equipment, all owned or leased Fixtures and all Specialty Assets located on such or at the Bank Premises for the period of such occupancyfrom the Bank Closing Date to the Bank Premises Surrender Date. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after the Bank ClosingClosing Date. Rent for such property leased property by the Failed Bank shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or Equipment, owned Fixtures or Specialty Assets in accordance with Section Sections 4.6(f), 4.6(h) or 4.6(h4.6(j), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(iii) Subject to Section 4.1, if the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises, or not to purchase one or more of the owned Bank Premises, within two Business Days of the Bank Closing Date, and the Receiver is satisfied that all of the conditions for surrender of such Bank Premises set forth in this Agreement have been met within fifteen (15) days of the Bank Closing Date, then, notwithstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs imposed by this Section 4.6(e).
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bay Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.. Module 1 - Whole Bank w/ Loss Share - P&A Version 2.09A August 17, 2010 Hillcrest Bank Overland Park, Kansas
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (NBH Holdings Corp.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of Module 1 – Whole Bank w/ Loss Share – P&A CF Bancorp Version 2.02 Port Huron, MI March 19, 2010 occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Talmer Bancorp, Inc.)
Occupancy Costs. (i) The Assuming Bank Institution agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank Institution elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank Institution assumes liability) by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
(ii) The Assuming Bank Institution agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank Institution purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank Institution with respect thereto shall be applied as an offset against the purchase price thereof.
Module 1 Whole Bank w/ Loss Share – P&A Version 2.02 March 19, 2010 20 XXXXXX BANK LOWELL, MASSACHUSETTS
Appears in 1 contract
Samples: Purchase and Assumption Agreement (People's United Financial, Inc.)