Assumed Deposits definition

Assumed Deposits means Deposits.

Assumed Deposits means all Deposits existing on the Closing Date other than Excluded Deposits.

Assumed Deposits means all Deposits existing on the Closing Date, together with all Accrued Interest thereon as of the Closing Date.

Examples of Assumed Deposits in a sentence

• The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS, and any market place or similar subscription services Deposits.

• The Assuming Institution agrees that, from and after the Bank Closing Date, it will accrue and pay interest on Assumed Deposits pursuant to Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Institution to its depositors for non-transaction deposit accounts.

• CDARS deposits pass to the Assuming Bank, but are excluded from Assumed Deposits when the deposit premium is calculated.

• The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS®, and any market place or similar subscription services Deposits as reflected on Schedule 7.

• Non-DO Brokered Deposits pass to the Assuming Bank, but are excluded from Assumed Deposits when the deposit premium is calculated.

More Definitions of Assumed Deposits

Assumed Deposits means Deposits (including, however, brokered deposits, as defined by 12 USC 1831f).

Assumed Deposits means the deposits (as defined in Section 3(l) of the FDI Act) in deposit accounts of Branch Customers booked by Seller at the Branches in the ordinary course of business and in a manner consistent with past practice (other than those deposits (1) due to be escheated in accordance with Seller’s policies and procedures, (2) associated with the Retained Businesses, (3) held as security for a Loan that is not a Purchased Loan or (4) of Retained Employees) in each case that are listed on the Assumed Deposits Schedule (as it may be updated pursuant to Section 3.4(b)).

Assumed Deposits means all Deposits existing on the Closing Date in one or more of the Branches, together with all Accrued Interest thereon as of the Closing Date; PROVIDED, HOWEVER, that Assumed Deposits shall not include any of the following, which shall be retained by Seller: (i) Deposits which secure loans, (ii) Deposits not assumed pursuant to Sections 3.2(f), 3.2(g), or 6.3, (iii) Deposits which secure Visa card accounts, and (iv) other Deposits, if any, which the Buyer has advised the Seller, at least thirty (30) Business Days prior to the Closing Date, it cannot legally accept.

Assumed Deposits means Insured Deposits (excluding, however, brokered deposits, CDAR deposits, and market place deposits, as more fully described in the transaction recap provided by the FDIC), the uninsured portion of the Guaranteed Transaction Accounts, and Deposits of public money (other than such liabilities that are Insured Deposits) in the Failed Bank to the extent such Deposits are properly and fully secured. In the event that a depositor's aggregate Deposits in the Failed Bank are in excess of its Insured Deposit, the Corporation, in accordance with its standard policies and procedures, shall determine which Deposits are assumed. A Deposit in the form of a negotiable instrument shall not be assumed by or transferred to the Assuming Bank, and any interest with respect thereto as provided in this Agreement shall not accrue or be paid until the owner thereof shall provide proof satisfactory to the Corporation that such negotiable instrument was negotiated to such owner prior to Bank Closing Date, as provided in 12 C.F.R. Section 330.4(b)(4).

Assumed Deposits means deposits (as defined in 12 U.S.C. § 1813(l)) that are held by HSBC or any of its Subsidiaries in connection with the Transferred Business, including demand deposits, savings accounts, money market deposit accounts, mutual fund and reserve fund sweep accounts, negotiable order of withdrawal accounts, certificates of deposit, deposits acquired through the telephone or the internet or other electronic media and, subject to Section 7.11, XXX, Employee Pension Plan and Xxxxx accounts, including any debit accounts related thereto, in each case, that are listed on Schedule 1.1(a) (as updated pursuant to Section 7.12), excluding: (i) structured deposits; (ii) brokered deposits; (iii) unclaimed deposits subject to unclaimed property statute/escheatment; (iv) deposits constituting money orders, certified and official checks and other items in the process of clearing; (v) deposits by state, county and municipal government agencies and authorities; and (vi) deposits that constitute Excluded Deposits.

Assumed Deposits means Deposits. "Assuming Institution" is defined in the introduction to this Agreement. "Bank Closing Date" means 12:10 a.m. on March 20, 2023. "Bank Premises" means the banking buildings, drive-in banking facilities, teller facilities (staffed or automated), storage and service facilities, structures connecting remote facilities to banking houses, land on which the foregoing are located and unimproved land, and any adjacent parking (and fixtures located on any of the foregoing) that are owned or leased by the Failed Bank and that have formerly been used, are currently used, or as of the Bank Closing Date, are intended to be used in the future by the Failed Bank as shown on the Failed Bank Records. "Bank Premises Operating Costs" means expenses related to Bank Premises, Furniture and Equipment, and Specialty Assets, including all taxes, fees, charges, maintenance, utilities, waste disposal, insurance, and assessments, to the extent not included in the rental rate or rent. "Bank Premises Surrender Date" means, with respect to each specific Bank Premises, the date selected by the Assuming Institution to surrender that Bank Premises to the Receiver, which date will be no later than the first day after the Receiver is satisfied that all of the conditions for surrender of that Bank Premises set forth in this Agreement have been met; provided that, unless otherwise provided in this Agreement, that date will not be more than 150 days after the Bank Closing Date. "Bid" means the bid submitted by the Assuming Institution and accepted by the Corporation as the winning bid for the transaction evidenced by this Agreement. "Bid Amount" is defined in Article VII. "Bid Valuation Date" means March 10, 2023. "Board" is defined in Recital Error! Reference source not found .. Version 13.2 -PURCHASE AND ASSUMPTION AGREEMENT SIGNATURE BRIDGE BANK, NA New York. New York

Assumed Deposits means all Deposits identified on Schedule I attached hereto (which schedule may be updated from time to time by agreement of the parties prior to the Closing Date) except the Excluded Deposits.