Common use of Unclaimed Deposits Clause in Contracts

Unclaimed Deposits. If, within eighteen (18) months after the Bank Closing Date, any depositor of the Failed Bank does not claim or arrange to continue such depositor’s Assumed Deposits at the Assuming Institution, the Assuming Institution shall, within fifteen (15) Business Days after the end of such eighteen (18) month period, (i) refund to the Receiver the full amount of each such Deposit (without reduction for service charges), (ii) provide to the Receiver a schedule of all such refunded Deposits in such form as may be prescribed by the Receiver, and (iii) assign, transfer, convey, and deliver to the Receiver, all right, title and interest of the Assuming Institution in and to the Records previously transferred to the Assuming Institution and other records generated or maintained by the Assuming Module 1 Whole Bank w/ Optional Shared Loss Agreements Version 3.3.1 PURCHASE AND ASSUMPTION AGREEMENT December 7, 2011 SCB Bank Shelbyville, Indiana of the Receiver, the Assuming Institution promptly shall provide to the Receiver schedules of unclaimed Deposits in such form as may be prescribed by the Receiver.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (First Merchants Corp), Purchase and Assumption Agreement (First Merchants Corp)

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Unclaimed Deposits. If, within eighteen (18) months after the Bank Closing Date, any depositor of the Failed Bank does not claim or arrange to continue such depositor’s Assumed Deposits at the Assuming Institution, the Assuming Institution shall, within fifteen (15) Business Days after the end of such eighteen (18) month period, (i) refund to the Receiver the full amount of each such Deposit (without reduction for service charges), (ii) provide to the Receiver a schedule of all such refunded Deposits in such form as may be Module 1 – Whole Bank w/Optional Shared Loss Agreements 11 Bank of Xxxxxxx Version 3.1.1 – PURCHASE AND ASSUMPTION AGREEMENT COLFAX, WASHINGTON April 27, 2011 prescribed by the Receiver, and (iii) assign, transfer, convey, and deliver to the Receiver, all right, title and interest of the Assuming Institution in and to the Records previously transferred to the Assuming Institution and other records generated or maintained by the Assuming Module 1 Whole Bank w/ Optional Shared Loss Agreements Version 3.3.1 PURCHASE AND ASSUMPTION AGREEMENT December 7Assuming Institution pertaining to such Deposits. During such eighteen (18) month period, 2011 SCB Bank Shelbyville, Indiana at the request of the Receiver, the Assuming Institution promptly shall provide to the Receiver schedules of unclaimed Deposits in such form as may be prescribed by the Receiver.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Columbia Banking System Inc)

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Unclaimed Deposits. If, within eighteen (18) months after the Bank Closing Date, any depositor of the Failed Bank does not claim or arrange to continue such depositor’s Assumed Deposits at the Assuming Institution, the Assuming Institution shall, within fifteen (15) Business Days after the end of such eighteen (18) month period, (i) refund to the Receiver the full amount of each such Deposit (without reduction for service charges), (ii) provide to the Receiver a schedule of all such refunded Deposits in such form as may be prescribed by the Receiver, and (iii) assign, transfer, convey, and deliver to the Receiver, all right, title and interest of the Assuming Institution in and to the Records previously transferred to the Assuming Institution and other records generated or maintained by the Assuming Assuming Institution pertaining to such Deposits. During such eighteen (18) month period, at the request Module 1 -- Whole Bank w/ w/Optional Shared Loss Agreements Version 3.3.1 Version 3.2 -- PURCHASE AND ASSUMPTION AGREEMENT December 7July 15, 2011 SCB 11 Sun Security Bank ShelbyvilleEllington, Indiana Missouri of the Receiver, the Assuming Institution promptly shall provide to the Receiver schedules of unclaimed Deposits in such form as may be prescribed by the Receiver.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Great Southern Bancorp Inc)

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