Common use of Payment of Checks, Drafts, Orders and Deposits Clause in Contracts

Payment of Checks, Drafts, Orders and Deposits. Subject to Section 9.5, the Assuming Institution agrees to pay all properly drawn checks, drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the Whole Bank w/ Optional Shared Loss Agreements Version 4.2.2 – Purchase And Assumption Agreement June 1, 2012 28 Pxxxxx State Bank Palatka, Florida check or draft forms provided by the Failed Bank or by the Assuming Institution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Institution under this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (HCBF Holding Company, Inc.)

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Payment of Checks, Drafts, Orders and Deposits. Subject to Section 9.5, the Assuming Institution agrees to pay all properly drawn checks, drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the Module 1 — Whole Bank w/ Optional Shared Loss Agreements Integra Bank Version 4.2.2 – 3.1.1 — Purchase And and Assumption Agreement June 1Evansville, 2012 28 Pxxxxx State Bank PalatkaIN July 26, Florida 2011 check or draft forms provided by the Failed Bank or by the Assuming Institution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Institution under this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Old National Bancorp /In/)

Payment of Checks, Drafts, Orders and Deposits. Subject to Section 9.5, the Assuming Institution agrees to pay all properly drawn checks, drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the check or Module 1 - Whole Bank w/ Optional Shared Loss Agreements Version 4.2.2 – 3.2 - Purchase And and Assumption Agreement June 1July 15, 2012 28 Pxxxxx State Bank Palatka2011 Community Banks of Colorado Greenwood Village, Florida check or Colorado draft forms provided by the Failed Bank or by the Assuming Institution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Institution under this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (NBH Holdings Corp.)

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Payment of Checks, Drafts, Orders and Deposits. Subject to Section 9.5, the Assuming Institution agrees to pay all properly drawn checks, drafts, withdrawal orders and Assumed Deposits of depositors of the Failed Bank presented for payment, whether drawn on the Whole Bank w/ Optional Shared Loss Agreements Version 4.2.2 – Purchase And Assumption Agreement June 1, 2012 28 Pxxxxx State Bank Palatka, Florida check or draft forms provided by the Failed Bank or by the Assuming Institution, to the extent 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 that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Institution under this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Ameris Bancorp)

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