Bank Premises. 15 SECTION 2.18
Bank Premises. Buyer will be entitled to possession and control of the Facilities on and after the Effective Time.
Bank Premises. 10 4.2 Agreement with Respect to Safe Deposit Business........................... 11 4.3
Bank Premises. (i) If the Assuming Institution elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the Bank Premises Surrender Date. The Assuming Institution shall be responsible for promptly relinquishing and releasing to the Receiver such Bank Premises and the Fixtures, the Furniture and Equipment and the Specialty Assets located thereon which existed at the time of the Bank Closing Date, in the same condition as at the Bank Closing Date, and at the Bank Premises where they were inventoried at the Bank Closing Date, normal wear and tear excepted. Any of the aforementioned which is missing will be charged to the Assuming Institution at the item's Fair Market Value as determined in accordance with this Agreement. By remaining in any such Bank Premises more than 1 50 days after the Bank Closing Date (unless the Assuming Institution must do so to comply with Section 4. 1 and has made appropriate arrangements with the Receiver and all applicable lessors), the Assuming Institution shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such Bank Premises are located, and (y) be required to purchase all Fixtures and al1 Furniture and Equipment owned by the Failed Bank and located on or at the Bank Premises as of the Bank Closing Date.
Bank Premises. (a) At Closing, Seller agrees to execute and deliver to the Assuming Bank a special warranty deed for the Bank Premises which are owned by Seller in substantially the form of Exhibit A attached hereto.
Bank Premises. (a) Option to Purchase (i) Subject to Section 3.5, the Receiver hereby grants to the Assuming Institution an exclusive option for the period of sixty (60) days commencing the day after the Bank Closing Date with respect to Bank Premises for which the Assuming Institution declined it option to purchase at a fixed price as shown on the Bid Form, and for a period of ninety (90) days commencing the day after the Bank Closing Date with respect to all other owned Bank Premises to purchase any or all owned Bank Premises, including all Fixtures and all Furniture and Equipment located on or at the Bank Premises. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. Any purchase of such Bank Premises shall be effective as of the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution, and such purchase shall be consummated as soon as practicable thereafter (and no later than the Settlement Date). (ii) The Receiver may, in its sole and absolute discretion, manage and maintain any owned Bank Premises with one or more tenants (other than the Assuming Institution) during the period from the Bank Closing Date until the date the Receiver receives the purchase price for such Bank Premises from the Assuming Institution. (b)
Bank Premises. At Closing, Seller agrees to execute and deliver to the Assuming Bank special warranty deeds for the Bank Premises which are owned by Seller in substantially the form of Exhibit A attached hereto. The Assuming Bank may receive, at its expense, a Commitment for Title Insurance (the "Commitment") and copies of all recorded instruments affecting title to the Bank Premises and recited as exceptions in such Commitment from a title insurance company reasonably acceptable to Seller for the issuance of a Owner Policy of Title Insurance, insuring good and indefeasible title in the Bank Premises as of the date of Closing, subject to: (i) the standard printed exceptions contained in the usual form of title policy; (ii) rights of parties in possession; (iii) standby fees, taxes and assessments for the current year and subsequent years, and subsequent assessments for prior years due to a change in land usage or ownership; (iv) any discrepancies, conflicts or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements; (v) covenants, restrictions, conditions, reservations, exceptions and easements shown of record; (vi) oil, gas, mineral and royalty conveyances, and leases of record, if any, in effect and shown of record; (vii) other conditions and encumbrances validly subsisting and affecting title to the Bank Premises as of the date of Closing; and (viii) all other matters to which like properties similarly situated are commonly subject, which do not, individually or in the aggregate, materially interfere with the current use of the Bank Premises.
Bank Premises. 9 2.15. Real Estate Taxes and Recording Fees....................... 9 2.16.
Bank Premises. Buyer shall be entitled to possession and control of the Branches upon and after the Effective Time. Seller shall coordinate with Buyer to have its signs, logos and related equipment removed from the Branches as of the Effective Time at Seller's expense. As soon as reasonably possible following the Effective Time, Seller will remove all of its personal property not being transferred hereunder, including, but not limited to, equipment, stationery, forms, labels, shipping material, brochures and advertising material.
Bank Premises. The Holding Company will pay to the Receiver a cash amount equal to $503,754, which amount represents the appraised value of the Premises ($1,800,000), less:
