Continuation of Banking Business. For the period commencing the first banking business day after Bank Closing and ending no earlier than the first anniversary of Bank Closing, the Assuming Bank agrees to provide full service banking in the trade area of the Failed Bank. Thereafter, the Assuming Bank may cease providing such banking services in the trade area of the Failed Bank, provided the Assuming Bank has received all necessary regulatory approvals. The trade area shall be determined by the Receiver.
Appears in 28 contracts
Samples: Purchase and Assumption Agreement, Purchase and Assumption Agreement (Charter Financial Corp/Ga), Purchase and Assumption Agreement (First Citizens Bancshares Inc /De/)
Continuation of Banking Business. For the period commencing the first banking business day Business Day after Bank Closing and ending no earlier than the first anniversary of Bank Closing, the Assuming Bank agrees to Institution will provide full service banking in the trade area of the Failed Bank. Thereafter, the Assuming Bank Institution may cease providing such banking services in the trade area of the Failed Bank, provided the Assuming Bank Institution has received all necessary regulatory approvals. The At the option of the Assuming Institution, such banking services may be provided at any or all of the Bank Premises, or at other premises within such trade area shall be determined by the Receiver.area. The
Appears in 3 contracts
Samples: Purchase and Assumption Agreement (North American Financial Holdings, Inc.), Purchase and Assumption Agreement (North American Financial Holdings, Inc.), Purchase and Assumption Agreement (North American Financial Holdings, Inc.)
