Common use of Occupancy Costs Clause in Contracts

Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to the appropriate Excluded Subsidiary or other parties at the direction of the Receiver, during and for the period of any occupancy by it of Bank Premises owned by any Excluded Subsidiary the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any Excluded Subsidiary in accordance with Section 4.16(a), the amount of any rent paid (and taxes paid to the Receiver or the applicable Excluded Subsidiary which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.

Occupancy Costs. (i) The Assuming Bank agrees to pay to the Receiver, or to the appropriate Excluded Subsidiary or other third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises owned by any Excluded Subsidiary the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises (other than those owned by Excluded Subsidiaries), all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any Excluded Subsidiary owned Bank Premises in accordance with Section 4.16(a4.6(a), the amount of any rent paid (and taxes paid to the Receiver or the applicable Excluded Subsidiary which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.