Interim Bank definition

Interim Bank means a national bank that does not operate independ- ently but exists solely as a vehicle to accomplish a business combination.

Interim Bank means a bank established exclusively for the temporary purposes set forth in this regulation.

Interim Bank has the meaning set forth in the preamble to this Agreement.

Examples of Interim Bank in a sentence

• Extensions may be granted by the Commissioner if the parties to the Interim Bank Agreement can show good cause as to why an extension is needed to complete the merger.

• From the date an Interim Bank is authorized pursuant to this regulation, the parties to the Interim Bank Agreement shall have six (6) months in which to effect the merger with the Insured Bank.

• An Interim Bank may not engage in any banking activity or operate as a bank until it has merged with an Insured Bank.

• Upon proof of the consummation of the merger of the Interim Bank with the Insured Bank, a Certificate Authorizing the Transaction of Business, as required by § 733 of Title 5 of the Delaware Code shall be issued immediately by the Commissioner to the surviving entity if the Interim Bank is the survivor.

• An Interim Bank may take only those corporate and fiduciary steps and actions reasonably incidental and necessary to facilitate and complete the merger.

More Definitions of Interim Bank

Interim Bank means American Interim Bank, an interim savings bank to be organized under HOLA for the sole purpose of consummating the transactions provided for herein.

Interim Bank means Western Interim Bank, a commercial bank to be organized under the laws of the Commonwealth for the sole purpose of consummating the transactions provided for herein.

Interim Bank has the meaning given to such term in the Background Section of this Agreement.

Interim Bank means a bank established for the purposes set forth in this regulation.

Interim Bank means a bank established exclusively for the temporary purposes set forth in this regulation. “Interim Bank Agreement” means an agreement that expressly provides, among other things, for the creation of an Interim Bank and its merger with an Insured Delaware Bank.

Interim Bank shall have the meaning stated in Section 2.12.

Interim Bank has the meaning set forth in Section 2.01(a).