Failed Association definition

Failed Association means Pan American Federal Savings Bank, ------------------ formerly a federal savings association under the HOLA, as amended, 12 U.S.C. Section 1461, et seq., and having its principal place of business in San Mateo, ------- California, which was closed pursuant to Order No. ___________ of the OTS.
Sample 1
Failed Association means Western Federal Savings ------------------ Bank, formerly a [federal savings association under the Home Owners' Loan Act, as amended, 12 U.S.C. Section 1461, et seq.,] [__________ under the laws of the ------- United States of America] and having its principal place of business in Marina Del Rey, California, which was closed pursuant to Order No. _____ of the Office of Thrift Supervision.
Sample 1
Failed Association means Western Federal Savings ------------------ Bank, formerly a federal savings association under the
Sample 1

Examples of Failed Association in a sentence

  • The Parties understand that certain assets of the Failed Association may have been misclassified by the Failed Association and may not have been included in the correct ledger account, or may not reflect the correct specific asset identification code.

  • Subject to the foregoing, all expenses associated with any contract assumed by the Assuming Institution pursuant to this Section 4.5 shall be prorated as of the Association Closing (and the Assuming Institution shall reimburse the Receiver for any such expenses that have been prepaid by the Failed Association).

  • The estimated Book Value set forth on Schedule A is subject to adjustment in accordance with Article VII.] [Alternative B - certain Limited Branch transactions only: ------------- (c) Adjustments to Schedule A ------------------------- (i) As set forth in Section 3.1(h), the Assuming Institution shall purchase from the Receiver all assets of the Failed Association listed on Schedule A.

  • As used in this Section, "Share" shall mean (i) for each party other than the Receiver, the fraction obtained by dividing (A) the total number of accounts associated with the Deposits transferred to such party on the date of Association Closing, by (B) the total number of accounts associated with the Deposits on the Books and Records of the Failed Association as of Association Closing, and (ii) for the Receiver, that fraction which when added to the sum of all of the other parties' Shares equals one.

  • Pursuant to Section 5(d) of the Home Owners' Loan Act, as amended, 12 U.S.C. Section 1464(d), the Office of Thrift Supervision has closed the savings association referred to in Paragraph 1(b) below (the "Failed Association") and has appointed the Resolution Trust Corporation as receiver of the Failed Association.

  • Asset portfolio includes Delinquent assets, but NOT any asset that is wholly charged off the Books of the Failed Association as of Association Closing.

  • The Assuming Institution will, ------------------------------------- and will cause its Subsidiaries to, at all times keep proper Books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to the assets, liabilities and business of the Failed Association acquired or assumed pursuant to the Agreement.

  • If immediately prior to Association Closing the Failed Association operated its own data processing system, certain Transition Personnel shall continue to operate such system to provide data processing services for the Assets and Liabilities for such period as either Party may require (not to exceed the Transition Period).

  • The Assuming Institution, by written notice to the Receiver, may request that the Receiver reclassify any asset that was misclassified by the Failed Association.

  • During the period in which it receives data processing services pursuant to this Section, each party shall comply with all of the terms and conditions of each agreement entered into by the Failed Association with respect to owned or leased Data Processing Equipment and shall pay its Pro Rata Share of all out-of-pocket costs and expenses of providing such services in accordance with Section 9.8.


More Definitions of Failed Association

Failed Association means Western Federal Savings Bank, ------------------ formerly a federal savings association under the HOLA, as amended, 12 U.S.C. Section 1461, et seq., and having its principal place of business in Marina Del ------ Ray, California, which was closed pursuant to Order No. ____________ of the OTS.
Sample 1
Failed Association means the failed savings association more ------------------ specifically described in the Agreement.
Sample 1

Related to Failed Association

  • Covered Associate means any general partner, managing member or executive officer, or other individual with a similar status or function, any employee who solicits a government entity for the investment adviser and any person who supervises, directly or indirectly, such employee.

  • Trade association means an entity recognized by the State in which the entity is doing business as a trade association and shall not include an organization that is formed for the purposes of providing insurance. “Transaction cutoff date” for weekly data reporting is 8 p.m. Central time on Friday of each week and for monthly data reporting is 8 p.m. Central time on Friday after the first Sunday of the month.

  • professional association means a self-regulatory organization of engineers, geoscientists or both engineers and geoscientists that

  • Member Association means any national football association affiliated to FIFA, irrespective of whether its representative team is participating in the Competition.

  • Savings association means a Fed- eral savings and loan association or a Federal savings bank chartered under section 5 of the Home Owners’ Loan Act, a building and loan, savings and loan or homestead association or a co- operative bank (other than a coopera- tive bank described in 12 U.S.C. 1813(a)(2)) the deposits of which are in- sured by the Federal Deposit Insurance Corporation, and any corporation (other than a bank) the deposits of which are insured by the Federal De- posit Insurance Corporation that the Office of the Comptroller of the Cur- rency and the Federal Deposit Insur- ance Corporation jointly determine to be operating in substantially the same manner as a savings association, and shall include any savings bank or any cooperative bank which is deemed by the Office of the Comptroller of the Currency to be a savings association under 12 U.S.C. 1467a(1).

  • Master association means an organization that is authorized to exercise some or all of the powers of one or more associations on behalf of one or more common interest communities or for the benefit of the unit owners of one or more common interest communities.

  • Card Association means Visa U.S.A., Inc., Visa International, Inc., MasterCard International, Inc., Discover, or any other Card Issuers that provide Cards accepted by Merchant by agreement with Bank.

  • Community Association Dues, Fees, and Assessments means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.

  • Community association means an association in which membership is a condition of ownership or shareholder interest of a unit in a condominium, cooperative, townhouse, villa, or other residential unit that is part of a residential development plan as a master association or common interest community and that is authorized to impose an assessment and other costs that may become a lien on the unit or lot.

  • National Emergency Number Association (“NENA”) is an association with a mission to xxxxxx the technological advancement, availability and implementation of 911 nationwide.

  • Non-Associated Gas means an accumulation of natural gas in a reservoir where there is no crude oil.

  • Private employer means any person, company, corporation, labor organization or association which employs ten or more persons.

  • Additional Special Servicing Compensation As defined in Section 3.11(d).