Failed Banks definition

Failed Banks shall have the meaning given in the preamble.
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Failed Banks or “Failed Bank” has the meaning given that term in the recitals. “FDIC” has the meaning given that term in the preamble.
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Failed Banks have the meanings given in the Contribution Agreement.
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Examples of Failed Banks in a sentence

  • Except as provided in Section 4.12, the Assuming Institution shall have no liabilities, obligations or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing, deferred compensation, 401K or stock purchase plans or similar plans, if any, unless the Receiver and the Assuming Institution agree otherwise subsequent to the date of this Agreement.

  • The Assuming Institution agrees to honor and perform, from and after Bank Closing, all duties and obligations with respect to the Failed Bank's credit card business (including issuer or merchant acquirer) debit card business, stored value and gift card business, and/or processing related to credit cards, if any, and assumes all outstanding extensions of credit or balances with respect to these lines of business.

  • The Assuming Institution agrees to honor and perform, from and after Bank Closing, all duties and obligations with respect to the Failed Bank's credit card business, and/or processing related to credit cards, if any, and assumes all outstanding extensions of credit with respect thereto.

  • Except as provided in Section 4.12, the Assuming Bank shall have no liabilities, obligations or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing, deferred compensation, 401K or stock purchase plans or similar plans, if any, unless the Receiver and the Assuming Bank agree otherwise subsequent to the date of this Agreement.

  • The Assuming Bank agrees to honor and perform, from and after Bank Closing, all duties and obligations with respect to the Failed Bank's credit card business, and/or processing related to credit cards, if any, and assumes all outstanding extensions of credit with respect thereto.

  • If additional proceedings of any kind are necessary to accomplish the transfer of the Failed Bank's trust business, the Assuming Institution will, at its own expense, take whatever action is necessary to accomplish the transfer.

  • The Assuming Institution will honor and perform, from and after the Bank Closing Date, all duties and obligations with respect to the Failed Bank's credit card business (including issuer or merchant acquirer), debit card business, stored value and gift card business, and processing related to credit cards, if any, and assumes all extensions of credit or balances outstanding as of the Bank Closing Date with respect to these lines of business.

  • Except as provided in Section 4.12, the Assuming Institution shall have no liabilities, obligations or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing or stock purchase plans or similar plans, if any, unless the Receiver and the Assuming Institution agree otherwise subsequent to the date of this Agreement.

  • The Assuming Institution will provide to the Receiver written verification of the assets held in connection with the Failed Bank's trust business within sixty (60) days after the Bank Closing Date.

  • Except as provided in Section 4.12, the Assuming Institution will have no liabilities, obligations, or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing, deferred compensation, 401k, collective bargaining agreements, equity incentive compensation, stock purchase plans, severance, change in control or similar plans, if any, unless the Receiver and the Assuming Institution agree otherwise subsequent to the date of this Agreement.


More Definitions of Failed Banks

Failed Banks have the meanings given in the recitals. “FDIC” has the meaning given in the preamble.
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Failed Banks means the various financial institutions listed on Schedule 1. “Xxxxxx Mae” shall mean the Federal National Mortgage Association of the United States or any successor thereto.
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Failed Banks means the various financial institutions listed on Schedule 1.
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Failed Banks means each of the various failed financial institutions listed on Schedule II to this Agreement, and each reference to a “Failed Bank” means the applicable failed financial institution, as the context may require.
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Related to Failed Banks

  • Failed Bank has the meaning set forth in Recital A.

  • 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.

  • Safe Deposit Boxes means the safe deposit boxes of the Failed Bank, if any, including the removable safe deposit boxes and safe deposit stacks in the Failed Bank's vault(s), all rights and benefits under rental agreements with respect to such safe deposit boxes, and all keys and combinations thereto.

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.

  • Accounts means all presently existing and hereafter arising accounts, contract rights, payment intangibles and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by Borrower and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing.

  • Bank Premises means the banking houses, drive-in banking facilities, and teller facilities (staffed or automated) together with adjacent parking, storage and service facilities and structures connecting remote facilities to banking houses, and land on which the foregoing are located, and unimproved land that are owned or leased by the Failed Bank and that have formerly been utilized, are currently utilized, or are intended to be utilized in the future by the Failed Bank as shown on the Accounting Record of the Failed Bank as of Bank Closing.

  • Assumed Deposits means Deposits.

  • Customer Credit Liabilities means at any time, the aggregate remaining value at such time of (a) outstanding merchandise credits, gift certificates and gift cards of the Borrowers entitling the holder thereof to use all or a portion of the credit, certificate or gift card to pay all or a portion of the purchase price for any Inventory, and (b) outstanding customer deposits of the Borrowers.

  • Assuming Institution has the meaning set forth in the introduction to this Agreement.

  • Deposits means all deposits (as defined in 12 U.S.C. § 1813(l)) that are held by any Seller or any of its Affiliates in connection with the Business, in each case, in the name or for the benefit of any clients or customers under the Appointments solely in their capacity as clients or customers of the Business and including any such deposits received by any Seller from and after the date hereof through the close of business on the Closing Date.

  • Bank Closing means the close of business of the Failed Bank on the date on which the Chartering Authority closed such institution.