Failed Bank definition

Failed Bank has the meaning set forth in Recital A.

Failed Bank has the meaning set forth in the Purchase and Assumption Agreement.

Failed Bank has the meaning given that term in the recitals. “FDIC” has the meaning given that term in the preamble.

Examples of Failed Bank in a sentence

• Any Asset, asset of the Failed Bank subject to an option to purchase or other asset purchased for which no purchase price is specified on Schedule 3.2 or otherwise herein shall be purchased at its Book Value.

• The Safe Deposit Boxes shall be located and maintained in the trade area of the Failed Bank for a minimum of one year from Bank Closing.

• Loans or other assets charged off the Accounting Records of the Failed Bank before the Bid Valuation Date shall be purchased at a price of zero.

• Provided, however, the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement; in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term.

• Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing.

More Definitions of Failed Bank

Failed Bank has the meaning given in the first recital.

Failed Bank shall have the meaning set forth in the preamble.

Failed Bank has the meaning set forth in the recitals.

Failed Bank and “Failed Banks” have the meanings given in the Contribution Agreement.

Failed Bank means Signature Bridge Bank, N.A.

Failed Bank has the meaning set forth in Section 6.17.

Failed Bank means each of these banks, individually and not jointly: Security Bank of Xxxx County; Security Bank of Gwinnett County; Security Bank of Houston County; Security Bank of Xxxxx County; Security Bank of North Xxxxxx; and, Security Bank of North Metro. This Purchase and Assumption Agreement is to be read and construed as one document representing six separate transactions arising from the failure of each of the above-referenced banks, resulting in a separate resulting receivership entity for each failed bank.