Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an Asset not otherwise applied to reduce the Book Value of such Asset, if applicable, in the following order: (i) to Charge-Offs and Failed Bank Charge-Offs; (ii) to Reimbursable Expenses; (iii) to interest income; and (iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 22 contracts
Samples: Purchase and Assumption Agreement (HCBF Holding Company, Inc.), Purchase and Assumption Agreement (FCB Financial Holdings, Inc.), Purchase and Assumption Agreement (FCB Financial Holdings, Inc.)
Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an Asset not otherwise applied to reduce the Book Value of such Asset, if applicable, in the following order:
(i) to Charge-Offs and Failed Bank Charge-Offs;
(ii) to Reimbursable Expenses;
(iii) to interest income; and
(iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 3 contracts
Samples: Purchase and Assumption Agreement (Certusholdings, Inc.), Purchase and Assumption Agreement (Certusholdings, Inc.), Purchase and Assumption Agreement (Old National Bancorp /In/)
Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an Asset not otherwise applied to reduce the Book Value of such Asset, if applicable, in the following order:
(i) to Charge-Offs and Failed Bank Charge-Offs;
(ii) to Reimbursable Expenses;
; (iii) to interest income; and
(iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an Asset not otherwise applied to reduce the Book Value of such Asset, if applicable, in the following order:
(i) to Charge-Offs and Failed Bank Charge-Offs;
(ii) to Reimbursable Expenses;
; (iii) to interest income; and
(iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Charter Financial Corp/Ga)
Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an a Shared-Loss Asset not otherwise applied to reduce the Book Value of such Shared-Loss Asset, if applicable, in the following order:
(i) to Charge-Offs and Offs, Failed Bank Charge-Offs;Offs and Fully Charged-Off Assets; and
(ii) to Reimbursable Expenses;
(iii) to interest income; and
(iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 1 contract
Samples: Commercial Shared Loss Agreement
Order of Application. For the purpose of calculating Recoveries, the Assuming Institution shall apply any collections received on an Acquired Asset not otherwise applied to reduce the Book Value of such Acquired Asset, if applicable, in the following order:
(i) to Charge-Offs and Offs, Failed Bank Charge-Offs;Offs and Fully Charged-Off Assets; and
(ii) to Reimbursable Expenses;
(iii) to interest income; and
(iv) to other expenses incurred by the Assuming Institution which are not Reimbursable Expenses.
Appears in 1 contract
Samples: Commercial Shared Loss Agreement (First Citizens Bancshares Inc /De/)
