Common use of Office Loans Clause in Contracts

Office Loans. All of SELLER's right, title and interest in and to all those loans which, as of the close of business on the Closing Date, are (i) secured in whole or in part by Deposit Accounts (as hereinafter defined) attributable or assigned to an Office (the "Deposit Account Loans"), (ii) commercial or other loans attributable to an Office (if any, the "Other Loans") or (iii) automatically created as the result of an overdraft of a Deposit Account pursuant to a pre-approved overdraft protection program offered by SELLER (except for those overdraft protection loans which are charged to credit card accounts not transferred to the BUYER hereunder, the "Overdraft Loans"), BUYER shall not assume any Office Loans which are more than sixty (60) days past due for payment of principal or interest. The Deposit Account Loans, Other Loans, and Overdraft Loans sold and assigned to BUYER hereunder will be identified as of the Closing Date and listed in SCHEDULE H (hereinafter referred to individually and collectively as the "Office Loans"). Transfer of the Office Loans will be subject to the terms and conditions set forth in SCHEDULE S. Except as otherwise expressly provided herein, the transfer of the Office Loans will be made without recourse, without any representation, warranty, or guarantee of any kind, express or implied, and without any allowance or reserve for loan losses;

Appears in 2 contracts

Samples: Office Purchase and Assumption Agreement (Isb Financial Corp/La), Office Purchase and Assumption Agreement (Isb Financial Corp/La)

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Office Loans. All of SELLER's right, title and interest in and to all those loans which, as of the close of business on the Closing Date, are (i) secured in whole or in part by Deposit Accounts (as hereinafter defined) attributable or assigned to an Office (the "Deposit Account Loans"), (ii) commercial or other loans attributable to an Office (if any, the "Other Loans") or (iii) automatically created as the result of an overdraft of a Deposit Account pursuant to a pre-approved preapproved overdraft protection program offered by SELLER Banc One immediately prior to the Banc One Closing (except for those overdraft protection loans which are charged to credit card accounts not transferred to SELLER at the BUYER hereunderBanc One Closing, the "Overdraft Loans"), BUYER shall not assume any Office Loans which are more than sixty (60) days past due for payment of principal or interest. The Deposit Account Loans, Other Loans, and Overdraft Loans sold and assigned to BUYER hereunder will be identified as of the Closing Date and listed in SCHEDULE Schedule H attached hereto and incorporated herein by reference and will constitute all of the Deposit Account Loans, Other Loans and Overdraft Loans acquired by SELLER at the Banc One Closing with respect to the Offices (hereinafter referred to individually and collectively as the "Office Loans"). Transfer Notwithstanding anything contained in this Agreement to the contrary, transfer of the Office Loans will be subject to the terms and conditions set forth in SCHEDULE S. Schedule S attached hereto and incorporated herein by reference. Except as otherwise expressly provided herein, the transfer of the Office Loans will be made without recourse, without any representation, warranty, or guarantee of any kind, express or implied, and without any allowance or reserve for loan losses;

Appears in 1 contract

Samples: Office Purchase and Assumption Agreement (Peoples Bancorp Inc)

Office Loans. All of SELLER's right, title and interest in and to all those loans and/or letters of credit which, as of the close of business on the Closing Date, are (i) secured in whole or in part by Deposit Accounts (as hereinafter defined) attributable or assigned to an Office (the "Deposit Account Loans"), (ii) commercial or other loans or letters of credit attributable to an Office (if any, the "Other Loans") or (iii) automatically created as the result of an overdraft of a Deposit Account pursuant to a pre-approved an overdraft protection program offered by SELLER BANK ONE (except for those overdraft protection loans which are charged to credit card accounts not transferred to the BUYER hereunder, the "Overdraft Loans"), BUYER shall not assume any Office Loans which are more than sixty (60) days past due for payment of principal or interest. The Deposit Account Loans, Other Loans, and Overdraft Loans sold and assigned to BUYER hereunder will be identified as of the Closing Date and listed in SCHEDULE Schedule H attached hereto and incorporated herein by reference (hereinafter referred to individually and collectively as the "Office Loans"). Transfer of the Office Loans will be subject to the terms and conditions set forth in SCHEDULE S. Schedule S attached hereto and incorporated herein by reference. Except as otherwise expressly provided herein, the transfer of the Office Loans will be made without recourse, without any representation, warranty, or guarantee of any kind, express or implied, and without any allowance or reserve for loan losses;

Appears in 1 contract

Samples: Office Purchase and Assumption Agreement (Heartland Financial Usa Inc)

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Office Loans. All of SELLER's right, title and interest in and to all those loans which, as of the close of business on the Closing Date, are (i) secured in whole or in part by Deposit Accounts (as hereinafter defined) attributable or assigned to an Office (the "Deposit Account Loans"), (ii) commercial or other loans attributable to an Office (if any, the "Other Loans") or (iii) automatically created as the result of an overdraft of a Deposit Account pursuant to a pre-approved overdraft protection program offered by SELLER BANK ONE (except for those overdraft protection loans which are charged to credit card accounts not transferred to the BUYER hereunder, the "Overdraft Loans"), BUYER shall not assume any Office Loans which are more than sixty (60) days past due for payment of principal or interest. The Deposit Account Loans, Other Loans, and Overdraft Loans sold and assigned to BUYER hereunder will be identified as of the Closing Date and listed in SCHEDULE H attached hereto and incorporated herein by reference (hereinafter referred to individually and collectively as the "Office Loans"). Transfer of the Office Loans will be subject to the terms and conditions set forth in SCHEDULE S. S attached hereto and incorporated herein by reference. Except as otherwise expressly provided herein, the transfer of the Office Loans will be made without recourse, without any representation, warranty, or guarantee of any kind, express or implied, and without any allowance or reserve for loan losses;

Appears in 1 contract

Samples: Office Purchase and Assumption Agreement (Community First Bankshares Inc)

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