Common use of Payment of Amount Due under Article 8 Clause in Contracts

Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rate.

Appears in 25 contracts

Samples: Purchase and Assumption Agreement (Investors Bancorp, Inc.), Purchase and Assumption Agreement (Berkshire Hills Bancorp Inc), Purchase and Assumption Agreement

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Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rateas provided in Section 3.2(b).

Appears in 3 contracts

Samples: Purchase and Assumption Agreement (Legacy Bancorp, Inc.), Purchase and Assumption Agreement (First Niagara Financial Group Inc), Purchase and Assumption Agreement (Investors Bancorp Inc)

Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.38.2, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rateas provided in Section 3.2(b).

Appears in 3 contracts

Samples: Purchase and Assumption Agreement (CenterState Banks, Inc.), Purchase and Assumption Agreement (Floridian Financial Group Inc), Purchase and Assumption Agreement (Eagle Bancorp Montana, Inc.)

Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due by the other party at the Closing. All subsequent payments under this Article 8 shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rate.

Appears in 2 contracts

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

Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 or otherwise attributable to the payment by Seller to Purchaser of Excluded Taxes shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Commonwealth Financial Corp /Pa/)

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Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, owed under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 shall be made as soon as determinable and shall be made as provided in Section 3.2(b) and bear interest from the date due to the date of payment at the Federal Funds Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First South Bancorp Inc /Va/)

Payment of Amount Due under Article 8. Any payment by Seller to Purchaser, or to Seller from Purchaser, under this Article 8 (other than payments required by Section 8.3, which shall be paid when determined) to the extent due at the Closing may be offset against any payment due the other party at the Closing. All subsequent payments under this Article 8 or otherwise attributable to the payment by Seller to Purchaser of Excluded Taxes shall be made as soon as determinable and shall be made as provided in Section 3.2(b3.2(a) and bear interest from the date due to the date of payment at the Federal Funds Rate.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (German American Bancorp, Inc.)

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