Common use of FIRST LOSS AMOUNT Clause in Contracts

FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a negative transaction bid of ($14,501,000) and a Deposit premium bid of one (1) %. The Deposit premium bid will be applied to the total of all Deposits assumed hereunder except for brokered, CDARS, and any Quickrate or similar subscription services Deposits. The First Loss Amount shall be determined by adding (i) the transaction bid, (ii) the Deposit premium bid, and (iii) the Equity Adjustment. If the First Loss Amount is a positive number, then this is the Losses on Single Family Shared- Loss Loans and Net Charge-offs on Shared Loss Assets that the Assuming Bank will incur before loss-sharing commences. before loss sharing begins under Exhibits 4.15A and 4.15B. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing and loss sharing shall commence immediately.

FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a negative transaction bid of ($14,501,0007,651,000) (negative) and a Deposit premium bid of one (1) 3.88%. The Deposit premium bid will be applied to the total of all Deposits assumed hereunder except for brokered, CDARS, and any Quickrate or similar subscription services Deposits. The First Loss Amount shall be determined by adding (i) the transaction bid, (ii) the Deposit premium bid, and (iii) the Equity Adjustment. If the First Loss Amount is a positive number, then this is the Losses on Single Family Shared- Shared-Loss Loans and Net Charge-offs on Shared Loss Assets that the Assuming Bank will incur before loss-loss- sharing commences. before loss sharing begins commences under Exhibits 4.15A and 4.15B. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing and loss sharing shall commence immediately.