Retirement Accounts. (a) At the Closing, Seller shall resign as trustee and custodian with respect to any individual retirement account (“XXX Account”) as to which Seller is trustee or custodian and as to which one or more of the assets included therein is a deposit included within the Deposits transferred to Buyer on the Closing Date. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX Account.
Appears in 3 contracts
Samples: Branch Purchase and Assumption Agreement (Limestone Bancorp, Inc.), Branch Purchase and Assumption Agreement (Citizens First Corp), Branch Purchase and Assumption Agreement (Harrington West Financial Group Inc/Ca)
Retirement Accounts. (a) At the Closing, Seller shall resign as trustee and custodian with respect to any individual retirement account (“"XXX Account”") as to which Seller is trustee or custodian and as to which one or more of the assets included therein is a deposit included within the Deposits transferred to Buyer on the Closing Date. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX Account.
Appears in 2 contracts
Samples: Branch Purchase and Assumption Agreement (Gold Banc Corp Inc), Branch Purchase and Assumption Agreement (Jacksonville Bancorp Inc)
Retirement Accounts. (a) At the Closing, Seller shall resign as trustee and or custodian with respect to any individual retirement account (“XXX Account”) as to which Seller is trustee or custodian acts in such capacity and as to which one or more of the assets included therein is a deposit included within the Deposits Deposit Liabilities transferred to Buyer on the Closing Date. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX Account.
Appears in 1 contract
Samples: Branch Purchase and Assumption Agreement (Beverly Hills Bancorp Inc)
Retirement Accounts. (a) At the Closing, Seller shall resign ------------ ------------------- as trustee and custodian with respect to any individual retirement account (“XXX "IXX Account”") as to which Seller is trustee or custodian and as to which one or more of the assets included therein is a deposit included within the Deposits transferred to Buyer on the Closing Date. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX IXX Account.
Appears in 1 contract
Samples: Branch Purchase and Assumption Agreement (First Southern Bancshares Inc/De)
Retirement Accounts. (a) At the Closing, Seller shall resign as trustee and custodian with respect to any individual retirement account (“"XXX Account”") as to which Seller is trustee or custodian and as to which one or more of the assets included therein is a deposit included within the Deposits transferred to Buyer on the Closing Date, other than any XXX Account associated with any FSA Borrower, which accounts shall remain with Seller. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX Account.
Appears in 1 contract
Samples: Branch Purchase and Assumption Agreement (Gold Banc Corp Inc)
Retirement Accounts. (a) All of the individual retirement accounts ("XXX Accounts") maintained by Seller at the Branch Office designate Seller as the trustee. At the Closing, Seller shall resign as trustee and custodian with respect to any individual retirement account (“"XXX Account”") as to which Seller is trustee or custodian and as to which one or more of the assets included therein is a deposit included within the Deposits transferred to Buyer on the Closing Date. At the Closing, Seller shall designate or appoint Buyer as successor trustee or custodian under each such XXX Account.
Appears in 1 contract
Samples: Branch Purchase and Assumption Agreement (HCB Bancshares Inc)
