Leased Branch definition
Examples of Leased Branch in a sentence
Attached as Schedule 2.5 is a list of all real and personal property leases and service or other contracts in effect as of the date hereof that exclusively relate to the Owned Branch, the Leased Branch or the Branch Banking Operations (and that are capable of assignment in connection herewith) that will be assumed by Purchaser hereunder (“Assumed Contracts”).
The Branch Lease is not subject to any lease, mortgage, deed or trust or other lien or interest that would entitle the holder thereof to interfere materially with or disturb the lessee’s rights under such Leased Branch so long as the lessee is not in default under the Branch Lease beyond any applicable cure period.
Seller shall maintain in effect until the Closing Date all casualty and public liability policies relating to the Real Property and the Leased Branch and the activities conducted thereon and maintained by Seller on the date hereof or procure comparable replacement policies and maintain such replacement policies in effect until the Effective Time.
Purchaser agrees, at Seller’s expense, to return to Seller all files, documents and records contained in the Owned Branch or Leased Branch that, to Purchaser’s knowledge, do not relate to the business or conduct of the Branch Banking Operations.
Complete and accurate descriptions of the Real Property and the Leased Branch are set forth on Schedule 6.6(a).
None of the Real Property, the OREO or, to Seller’s knowledge, the Leased Branch, is subject to any mortgage, security agreement, sales contract, option, right of first refusal or similar agreement or arrangement with any third party.
To Seller’s knowledge, there is no pending or threatened imposition of material assessments or Tax increases against the Real Property, the OREO or the Leased Branch.
Possession of the Real Property and the Leased Branch in the condition provided for in this Agreement, and keys therefor as well as all vault keys and combinations.
Home Savings shall deliver to IBC copies of any nondisturbance and attornment agreements relating to a Leased Branch as Home Savings may have in its possession.
Ten (10) days prior to the Closing Date, Purchaser shall be given full and complete access to the Branches to evaluate the physical condition of the Real Property, the real property on which the Leased Branch is located and the Personal Property.