Common use of Proration of Certain Expenses Clause in Contracts

Proration of Certain Expenses. Subject to the provisions of Section 2.4, all rentals, real estate taxes, personal property taxes (tangible or intangible), and utility, water and sewer charges and assessments, as well as semiannual assessments paid to the Bank Insurance Fund or the Savings Association Insurance Fund with respect to the Deposits, shall be prorated between Buyer and Seller as of the close of business on the Closing Date.

Appears in 4 contracts

Samples: Purchase and Assumption Agreement (Hubco Inc), Purchase and Assumption Agreement (FNB Corp \Va\), Purchase and Assumption Agreement (Capital City Bank Group Inc)

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Proration of Certain Expenses. Subject to the provisions of Section 2.4, all rentals, real estate taxes, personal property taxes (tangible or intangible), and utility, water and sewer charges and assessments, as well as semiannual assessments paid to the Bank Insurance Fund or the Savings Association Insurance Fund Fund, with respect to the Deposits, shall be prorated between Buyer and Seller adjusted on a pro rata basis as of the close of business on the Closing Date.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (United Tennessee Bankshares Inc)

Proration of Certain Expenses. Subject to the provisions of Section 2.4, all rentals, real estate taxes, personal property taxes (tangible or intangible), and ongoing and periodic expenses arising from the utility, water and sewer charges and assessments, as well as semiannual assessments paid to the Bank Insurance Fund or the Savings Association Insurance Fund with respect to the Deposits, shall be prorated between Buyer and Seller as of the close of business on the Closing Date.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Bancorp /Nc/)

Proration of Certain Expenses. Subject to the provisions of Section 2.4, all rentals, real estate taxes, personal property taxes (tangible or intangible), and utility, water and sewer charges and assessments, as well as semiannual assessments paid to the Bank Insurance Fund or the Savings Association Insurance Fund Fund, with respect to the Deposits, shall be prorated between Buyer and Seller adjusted on a pro rata basis as of the close of business on the Closing Date.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First State Corp /Ga/)

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Proration of Certain Expenses. Subject to the provisions of Section 2.4, all rentals, real estate taxestaxes (including ad valorem taxes relating to the Real Property), personal property taxes (tangible or intangible), and utility, water and sewer charges and assessments, as well as semiannual assessments paid to the Bank Insurance Fund or the Savings Association Insurance Fund with respect to the Deposits, shall be prorated between Buyer and Seller as of the close of business on the Closing Date.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Capital City Bank Group Inc)

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