Liquidation Account Value definition
Examples of Liquidation Account Value in a sentence
If the applicable Regulators direct that Seller liquidate and make distributions to depositors from the Liquidation Accounts, Seller shall set aside cash for the purpose of paying to depositors the Liquidation Account Value in designated Bank Accounts (the “Funded Liquidation Accounts”); provided, however, that such amounts will not be deducted from the Purchase Price.
The value of the separate Liquidation Accounts are equal (the “Liquidation Account Value”), and the Liquidation Account Value is periodically adjusted downward pursuant to applicable federal regulations and regulatory policy.
If the applicable Regulators direct that Seller liquidate and make distributions to depositors from the Liquidation Accounts, Seller may set aside cash before or after the Closing for the purpose of paying to depositors the Liquidation Account Value in designated Bank Accounts (the “Funded Liquidation Accounts”); provided, however, that such amounts will not change the Purchase Price.
Although Holding Company and Seller maintain separate Liquidation Accounts in the amount of the Liquidation Account Value, aggregate payments to Liquidation Account Participants from the two Liquidation Accounts combined cannot exceed the Liquidation Account Value.
If permitted by the FDIC, IDFI, OCC, FRB and NCUA, the Liquidation Accounts shall be maintained after the Closing Date through the establishment at or prior to Closing of an Escrow Account in the amount of the Liquidation Account Value at the time of Closing (the “Liquidation Account Closing Value”).