Examples of FDIC Agreements in a sentence
HCBF will use its commercially reasonable efforts to negotiate or consummate a settlement with the FDIC regarding HCBF or its Subsidiaries’ buy-out of its outstanding recovery sharing rights under the FDIC Agreements prior to the Effective Time.
Without limiting Servicer’s right to withhold its written consent for any reason, in the event Owner proposes to amend, change, alter or modify and terms of an FDIC Agreements in a manner that would affect the FDIC Servicing Obligations and result in the imposition of material additional costs or expenses to Servicer, the parties good faith negotiation and agreement to an increase in Servicing Fees to reflect such costs or expenses shall be a precondition to Servicer’s provision of its written consent.
If not terminated prior to the Effective Time, Buyer and Buyer Bank shall succeed fully to all rights and obligations of Company and Company Bank under the FDIC Agreements on and after the Effective Time.
Owner shall immediately notify Servicer in writing of the termination of the arrangements contemplated in the Custodial and Paying Agency Agreement or the Collection Account as defined therein (“FDIC Collection Account”), or any facts or circumstances, including but not limited to notice from other parties to the FDIC Agreements, which could, with notice or the passage of time or both, lead to such a termination.
The Servicer shall not be responsible or liable for any obligations of Owner or any other Person under any other agreement related to the Assets, other than as expressly set forth in this Agreement or as a part of the FDIC Servicing Obligations, including but not limited to any obligations of Owner under the FDIC Agreements other than the FDIC Servicing Obligations, or obligations of Owner or any other Person under any agreements related to the origination, sale or repurchase of the Assets.
The Servicer acknowledges that it has received the copies of the FDIC Agreements so delivered by Owner, that it has examined the FDIC Agreements and is familiar with the contents of the FDIC Agreements, and consents and covenants to serve as agent of Owner in performing the FDIC Servicing Obligations thereunder.
Owner shall remain responsible for such costs and expenses, as set forth in clause (ii) of the preceding sentence, and any Termination Fees, as provided in this Section 5.3, and Sections 5.1 and 5.2, regardless of whether such amounts are payable by any other Persons under the FDIC Agreements, or whether such termination is effected by any other Person with authority to act on behalf of, or as successor in interest to, Owner, pursuant to the FDIC Agreements.
Company and Bank Subsidiary shall have taken all steps necessary to effect the final and complete assignment of the FDIC Agreements to Purchaser and Purchaser Bank, on or before the Effective Time.
Owner represents and warrants that it has a provided true, correct and complete copies of all the FDIC Agreements to Servicer prior to the date of this Agreement.
Purchaser and Purchaser Bank shall succeed fully to all rights and obligations of Company and Bank Subsidiary under the FDIC Agreements on and after the Effective Time.