Assumption Transaction definition
Examples of Assumption Transaction in a sentence
On the Closing Date, immediately upon consummation of the Transfer and Assumption Transaction, BCBSMo and the Foundation shall consummate the Charter Conversion Transaction as provided below in this Section 1.03.
On the Closing Date, BCBSMo shall consummate the Transfer and Assumption Transaction as provided below in this Section 1.02.
For the purpose of this Agreement, the term "unimpaired capital" shall mean the sum of the Bank's paid in capital, capital surplus, retained earnings and allocation for loan and lease losses with respect to any loans and leases, immediately following consummation of the Purchase and Assumption Transaction.
BCBSMo and RIT shall file, or shall cause to be filed, all necessary applications, notices, agreements and other documents reasonably required to obtain the approval of the Association and all Regulatory Authorities (as defined in Section 2.02(e) hereof) having jurisdiction with respect to the Transfer and Assumption Transaction.
The Bank and First Alliance Bank shall have entered into and shall, prior to or contemporaneously with the Closing hereof, consummate the Purchase and Assumption Transaction pursuant to an agreement substantially in the form of Exhibit 1 attached hereto, as a result of which the financial position of the Bank will conform to the Bank Financial Statement referred to in Section 4.4 hereof.
BCBSMo shall, and RIT shall cause HALIC to, sign on the date hereof the Assumption Reinsurance Agreement (the "Assumption Reinsurance Agreement") in the form attached hereto as Exhibit B and shall consummate the Transfer and Assumption Transaction in accordance with the terms of the Assumption Reinsurance Agreement.
BCBSMo and RIT shall take all reasonable and lawful action and shall execute all documents, certificates and other papers as may be necessary or appropriate in order to consummate the Transfer and Assumption Transaction in accordance with this Agreement and the Assumption Reinsurance Agreement.
BCBSMo shall use its best efforts to cause the Charter Conversion Effective Time to occur immediately after consummation of the Transfer and Assumption Transaction on the Closing Date.
For the purpose of this Agreement, the term "unimpaired capital" shall mean the sum of the Bank's paid in capital, capital surplus, retained earnings, and allocation for loan and lease losses with respect to any loans and leases, immediately following consummation of the Purchase and Assumption Transaction.
The Reorganization shall be accomplished by means of the Transfer and Assumption Transaction, the Charter Conversion Transaction, the Reincorporation Merger Transaction and the RIT/New RIT Merger Transaction, each of which shall be consummated in sequential order on the Closing Date (as defined in Section 1.07 hereof).