Common use of Payment of Termination Amount Clause in Contracts

Payment of Termination Amount. Within two Business Days after the Closing Date, subject to the satisfaction or waiver in writing of the conditions precedent set forth herein, the Assuming Institution shall pay or cause to be paid to the Receiver by wire transfer in immediately available funds, Two Hundred Thirty Million, Two Hundred Eighty Eight Thousand, Nine Hundred Sixty One Dollars ($230,288,961) (the “Termination Amount”). The Assuming Institution and the Receiver hereby acknowledge that the amount of shared-loss claims filed by the Assuming Institution but not yet paid by the Receiver were accounted for in the calculation of the Termination Amount.

Appears in 1 contract

Samples: Termination Agreement (Bb&t Corp)

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Payment of Termination Amount. Within two Business Days after the Closing Date, subject to the satisfaction or waiver in writing of the conditions precedent set forth herein, the Assuming Institution Receiver shall pay or cause to be paid to the Receiver Assuming Institution by wire transfer in immediately available funds, Two Hundred Thirty Million, Two Hundred Eighty Eight Thousand, Nine Million Three Hundred Sixty One Seven Five Hundred Thirty-Nine Dollars ($230,288,9612,367,539) (the "Termination Amount"). The Assuming Institution and the Receiver hereby acknowledge that the amount of shared-loss claims filed by the Assuming Institution under the Shared-Loss Agreements but not yet paid by the Receiver were accounted for in the calculation of the Termination Amount.

Appears in 1 contract

Samples: Termination Agreement (Simmons First National Corp)

Payment of Termination Amount. Within two Business Days after the Closing Date, subject to the satisfaction or waiver in writing of the conditions precedent set forth herein, the Assuming Institution shall pay or cause to be paid to the Receiver by wire transfer in immediately available funds, funds Two Million Three Hundred Thirty Million, Two Hundred Eighty Eight Thousand, Nine Hundred Sixty One Xxxxx-Xxx Xxxxxxxx Xxx Xxxxxxx Xxxxxx-Xxxxx Xxxxxx Xxxxxx Dollars ($230,288,9612,342,127.00) (the “Termination Amount”). The Assuming Institution and the Receiver hereby acknowledge that the amount of shared-loss claims filed by the Assuming Institution but not yet paid by the Receiver were accounted for in the calculation of the Termination Amount.

Appears in 1 contract

Samples: Termination Agreement (SOUTH STATE Corp)

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Payment of Termination Amount. Within two Business Days after the Closing Date, subject to the satisfaction or waiver in writing of the conditions precedent set forth herein, the Assuming Institution shall pay or cause to be paid to the Receiver by wire transfer in immediately available funds, Two Fourteen Million Eight Hundred Thirty Million, Two Fourteen Thousand Dollars Six Hundred Eighty Eight Thousand, Nine Hundred Sixty One Eighty-Six United States Dollars ($230,288,96114,814,686) (the “Termination Amount”). The Assuming Institution and the Receiver hereby acknowledge that the amount of shared-loss claims filed by the Assuming Institution but not yet paid by the Receiver were accounted for in the calculation of the Termination Amount.

Appears in 1 contract

Samples: Termination Agreement (FCB Financial Holdings, Inc.)

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