Examples of Branch Loans in a sentence
Seller agrees to prepare at its expense and deliver to Purchaser magnetic media records in a format consistent with BISYS file not later than 20 days prior to the Closing Date, and further shall deliver to Purchaser such records updated on the Closing Date, which records shall contain the information related to the Branch Loans and Deposits assumed above.
Buyer agrees to purchase Loans (Branch Loans and Secondary Loans) in an aggregate amount equal to at least 90% of the Deposits assumed by Buyer.
Seller will provide information to Purchaser with respect to all other New Branch Loans in the ordinary course of due diligence with respect to the Acquisition.
Buyer agrees to service all of the Branch Loans acquired by Buyer in accordance with prudent banking practices and standards.
With respect to loans attributable to the Branches that are proposed to be made by Seller after the date hereof and prior to the Closing (“New Branch Loans”), Seller will only make New Branch Loans that are consistent with Seller’s historical underwriting practices.
Commencing upon the execution of this Agreement and continuing until the Closing Date, Purchaser will be provided an opportunity to review and examine all of the Branch Loans and all Loan Files relating thereto, which review and examination by Purchaser shall be coordinated between Seller and Purchaser so as not to interfere unnecessarily with the normal operations of the Branches or Seller.
Seller agrees to prepare at its expense and deliver to Purchaser magnetic media records in a format consistent with BISYS file not later than 10 days prior to the Closing Date, and further shall deliver to Purchaser such records updated on the Closing Date, which records shall contain the information related to the Branch Loans and Deposits assumed above.
Within fourteen (14) days following the execution of this Agreement, the Buyer shall by written notice to the Seller identify each of the Branch Loans, if any, that Buyer, for whatever reason, declines to purchase from Seller pursuant to this Agreement.
The Deposit Account Loans, Other Loans, and Overdraft Loans sold and assigned to Buyer hereunder will be listed in Schedule F which will be updated as of the Closing Date (hereinafter referred to individually and collectively as the "Branch Loans").
Further, Buyer, at its sole cost and expense, shall prepare and shall file, or shall cause to be prepared and filed, with any appropriate third parties, any and all documents and notices which are necessary and proper to transfer to Buyer any security interests and other rights of Seller in and to collateral securing the Branch Loans being transferred hereunder.