Related Loans. (a) The Assuming Institution shall not manage, administer or collect any “Related Loan” in any manner which would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Shared-Loss Asset to which such loan is related. A “Related Loan” means any loan or extension of credit held by the Assuming Institution at any time on or prior to the end of the final Recovery Quarter that is: (i) made to the same Obligor with respect to a Loan that is a Shared-Loss Asset or with respect to a Loan from which Other Real Estate, or Additional ORE derived, or (ii) attributable to the same primary Obligor with respect to any Loan described in clause (i) under the rules of the Assuming Institution’s Chartering Authority concerning the legal lending limits of financial institutions organized under its jurisdiction as in effect on the Commencement Date, as applied to the Assuming Institution. Module 1 – Whole Bank w/ Loss Share – P&A 123 Turnberry Bank Version 2.07 Aventura, Florida June 10, 2010
Appears in 3 contracts
Samples: Purchase and Assumption Agreement (North American Financial Holdings, Inc.), Purchase and Assumption Agreement (North American Financial Holdings, Inc.), Purchase and Assumption Agreement (North American Financial Holdings, Inc.)
Related Loans. (a) The Assuming Institution shall not manage, administer or collect any “Related Loan” in any manner which would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Shared-Loss Asset to which such loan is related. A “Related Loan” means any loan or extension of credit held by the Assuming Institution at any time on or prior to the end of the final Recovery Quarter that is: (i) made to the same Obligor with respect to a Loan that is a Shared-Loss Asset or with respect to a Loan from which Other Real Estate, or Additional ORE derived, or (ii) attributable to the same primary Obligor with respect to any Loan described in clause (i) under the rules of the Assuming Institution’s Chartering Authority concerning the legal lending limits of financial institutions organized under its jurisdiction as in effect on the Commencement Date, as applied to the Assuming Institution. Module 1 – Whole Bank w/ Loss Share – P&A 123 Turnberry Horizon Bank Version 2.07 Aventura2.09A Bradenton, Florida June 10August 17, 20102010 144
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Bank of the Ozarks Inc)
Related Loans. (a) The Assuming Institution shall not manage, administer or collect any “Related Loan” in any manner which would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Shared-Loss Asset to which such loan is related. A “Related Loan” means any loan or extension of credit held by the Assuming Institution at any time on or prior to the end of the final Recovery Quarter that is: (i) made to the same Obligor with respect to a Loan that is a Shared-Loss Asset or with respect to a Loan from which Other Real Estate, or Additional ORE derived, or (ii) attributable Module 1 – Whole Bank w/ Loss Share – P&A Version 2.07 June 10, 2010 000 Xxxxxxx Xxxx Xxxxxx, Xxxxxx to the same primary Obligor with respect to any Loan described in clause (i) under the rules of the Assuming Institution’s Chartering Authority concerning the legal lending limits of financial institutions organized under its jurisdiction as in effect on the Commencement Date, as applied to the Assuming Institution. Module 1 – Whole Bank w/ Loss Share – P&A 123 Turnberry Bank Version 2.07 Aventura, Florida June 10, 2010.
Appears in 1 contract
Samples: Purchase and Assumption Agreement (Home Federal Bancorp, Inc.)
