Branch Deposits definition

Branch Deposits means, as of any date, the Deposits outstanding on such date domiciled at the Branches; provided, however, that Branch Deposits do not include (i) brokered certificates of deposit, (ii) Withholding Accounts, as defined in Section 6.7, or (iii) Deposits not assumed pursuant to Section 4.3.
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Branch Deposits. The cut-off time for branch deposits made in person at the branch or received at a branch by mail is the closing time of the branch. Branch closing times vary by location. • Deposits may be made at select BMO ▇▇▇▇▇▇ ATMs. The cut-off time for ATM deposits is 6:00 p.m. Central Time.
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Branch Deposits means, as of any given time, all deposits (including but not limited to demand deposit accounts, savings accounts and certificates of deposit): (A) domiciled at any Branch Office including (1) accounts accessible by negotiable orders of withdrawal or other demand instruments, (2) all Retirement Accounts, (3) all deposits through which Seller accepts payments or deposits for credit or deposit to another account and (4) all deposit accounts subject to arrangements between the owner of the account and a third party which directly makes Automated Clearing House (“ACH”) debits and credits, including social security payments, federal recurring payments, and other payments debited and/or credited on a regularly scheduled basis to or from such accounts (such payments being hereinafter referred to as the “Automated Items” and such accounts being hereinafter referred to as the “Automated Accounts”), (B) any deposit account that is security for or associated with any Loan, (C) deposits held at a branch that is to be retained by Seller that is held at that branch for any customer with a Primary Relationship with one of the Branch Offices, (D) all repurchase agreements together with interest on the deposits, if any, that is accrued but un-posted, that have been issued between Seller and its customers domiciled at any of the Branch Offices and (E) all off-balance sheet sweep accounts, together with interest on the deposits, if any, that is accrued but un-posted to Seller’s general ledger domiciled at any of the Branch Offices.
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Examples of Branch Deposits in a sentence

  • Purchaser shall report from the day after the Closing Date through the end of the calendar year all interest credited to, interest withheld from, and early withdrawal penalties charged to the Branch Deposits assumed by Purchaser.

  • Purchaser and Seller agree to make such adjustment to interest paid on the Branch Deposits as may be necessary to reconcile the differences in their respective methods of calculation of interest to insure that depositors are paid the full amount of interest due to them.

  • On the Closing Date, no action, suit or proceeding shall be pending or threatened against Seller which is reasonably likely to (a) materially and adversely affect the Assets or the Branch Deposits or (b) materially and adversely affect the transactions contemplated herein.

  • As of the Closing Date, all records related to the Branch Deposits and the Assets, which will be transferred to Purchaser by Seller hereunder are true and correct in all material respects, including genuineness of signatures.

  • Purchaser agrees to honor all previously authorized ACH transfers with respect to the Branch Deposits to the same extent as if the ACH transfer were made with respect to similar deposits or accounts at Purchaser for a period of ninety (90) calendar days following the Closing Date, and shall hold Seller harmless with respect to any wrongful dishonor by Purchaser thereof within such period.

  • There is no action, suit, proceeding or investigation pending, nor to the knowledge of Seller, threatened against Seller before any court, arbitrator or administrative or governmental body which may result in any materially adverse change in the Assets or Branch Deposits or which could materially and adversely affect the ability of Seller to perform its obligations under this Agreement or which in any manner questions the validity of this Agreement.

  • Seller shall report from January 1, 2000 through the Closing Date all interest credited to, interest withheld from, and early withdrawal penalties charged to the Branch Deposits which are assumed by Purchaser under this Agreement.

  • Seller will not be obligated to accept new direct debit arrangements on Branch Deposits after the date when all regulatory approvals have been obtained, nor will Seller be obligated to forward such direct debits or give an accounting thereof other than by electronic transmission.

  • The Branch Deposits are insured to applicable limits by the Savings Association Insurance Fund of the FDIC.

  • Seller shall assign, transfer and deliver to Purchaser such of the following records pertaining to the Branch Deposits as exist and are available in whatever form or medium is maintained by Seller: (A) signature cards, orders and contracts between the Seller and depositors, and records of similar character, (B) deposit slips and canceled checks or withdrawal orders representing charges to depositors, and (C) records of account maintained at the Branch Office.


More Definitions of Branch Deposits

Branch Deposits means, as of any date, the Deposits outstanding on such date at the Branches, provided, however, that Branch Deposits shall not include (i) self-directed ▇▇▇ Accounts and ▇▇▇▇▇ Accounts which will not be or have not been transferred to Purchaser in accordance with Sections 2.4 and 2.5, respectively, (ii) Escheatable Deposits, and (iii) any other deposit liabilities which, by law or contract (including the terms of any relevant deposit agreement), either Purchaser is not permitted to assume or Seller is not permitted to sell, transfer, assign or otherwise dispose of.
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Branch Deposits means, as of any date, the Deposits outstanding on such date at the Branches, the ATMs and CASC; provided, however, that, for the -------- ------- purposes of determining Core Deposits and calculating the Asset/Liability Premium and for the purposes of Section 9.1(d) only, Branch Deposits shall not include (i) Escheatable Deposits, (ii) deposits obtained or placed through a deposit broker as defined in 12 C.F.R. Section 561.2a, (iii) Deposits subject to holds placed by Seller (other than pursuant to Regulation CC) as of the Closing Date, including holds placed as a result of an attachment, garnishment or other legal action or Seller's debt collection efforts, (iv) savings accounts with negative balances, (v) intra-bank deposits or deposits by an Affiliate, (vi) Deposits that are Government Deposits and (vii) Accrued Interest on any Deposit.
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Branch Deposits mean all deposits as defined in Section 3(1) of the Federal Deposit Insurance Act, as amended (12 USC Section 1831(1)), at the Branches.
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Related to Branch Deposits

  • Time Deposits means time deposits, certificates of deposit or similar arrangements with any bank or trust company, including the Trustee or an affiliate thereof, which is a member of the Federal Deposit Insurance Corporation.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Special Deposits have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Assumed Deposits means Deposits.