Common use of Puts of Assets to the Receiver Clause in Contracts

Puts of Assets to the Receiver. (a) Puts Within 30 Days After Bank Closing. During the thirty (30)-day period following Bank Closing and only during such period (which thirty (30)-day period may be extended in writing in the sole absolute discretion of the Receiver for any Loan), in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any Deposit Secured Loan transferred to the Assuming Bank pursuant to Section 3.1 which is not fully secured by Assumed Deposits or deposits at other insured depository institutions due to either insufficient Assumed Deposit or deposit collateral or deficient documentation regarding such collateral; provided with regard to any Deposit Secured Loan secured by an Assumed Deposit, no such purchase may be required until any Deposit setoff determination, whether voluntary or involuntary, has been made; and, at the end of the thirty (30)-day period following Bank Closing and at that time only, in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any remaining overdraft transferred to the Assuming Bank pursuant to 3.1 which both was made after the Bid Valuation Date and was not made pursuant to an overdraft protection plan or similar extension of credit. Notwithstanding the foregoing, the Assuming Bank shall not have the right to require the Receiver to purchase any Loan if (i) the Obligor with respect to such Loan is an Acquired Subsidiary, or (ii) the Assuming Bank has:

Puts of Assets to the Receiver. (a) Puts Within 30 Days or 40 Days After the Bank ClosingClosing Date. (i) During the thirty (30)-day period following the Bank Closing and only during such period Date (which thirty (30)-day period may be extended in writing in the sole and absolute discretion of the Receiver for any Loan), in accordance with this Section 3.4, the Assuming Bank shall be entitled to Institution may require the Receiver to purchase (x) any Deposit Secured Loan transferred to the Assuming Bank Institution pursuant to Section 3.1 which is not fully secured by Assumed Deposits or deposits at other insured depository institutions due to either insufficient Assumed Deposit or deposit collateral or deficient documentation regarding such collateralcollateral or (y) any New Loan; provided with regard to any that, the Assuming Institution may not require the purchase of a Deposit Secured Loan that is secured by an Assumed Deposit, no such purchase may be required Deposit until any Deposit setoff determination, whether voluntary or involuntary, has been made; and, at . (ii) During the end of the thirty forty (30)-day 40)-day period following the Bank Closing and at that time only, in accordance with this Section 3.4Date, the Assuming Bank shall be entitled to Institution may require the Receiver to purchase purchase, any remaining overdraft Eligible Overdraft transferred to the Assuming Bank Institution pursuant to Section 3.1 which both was made after existed on the Bid Valuation Date and was not made pursuant to an overdraft protection plan or similar extension of creditthirtieth (30th) day following the Bank Closing Date. (iii) Notwithstanding the foregoing, the Assuming Bank shall Institution may not have the right to require the Receiver to purchase any Loan pursuant to Section 3.4(a) if (ix) the Obligor with respect to such Loan is an Acquired Subsidiary, Subsidiary or (iiy) the Assuming Bank Institution has:: (A) made any advance in accordance with the terms of a Commitment or otherwise with respect to such Loan; (B) taken any action that caused an increase in the amount of a Related Liability with respect to such Loan; (C) created or permitted to be created any Lien on such Loan which secures indebtedness for money borrowed or which constitutes a conditional sales agreement, capital lease or other title retention agreement; (D) entered into, agreed to make, grant or permit, or made, granted or permitted any modification or amendment to, any waiver or extension with respect to, or any renewal, refinancing or refunding of, such Loan or related

Puts of Assets to the Receiver. (a) Puts Within 30 Days After the Bank ClosingClosing Date. During the thirty (30)-day period following the Bank Closing Date and only during such period (which thirty (30)-day period may be extended in writing in the sole absolute discretion of the Receiver for any Loan), in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any Deposit Secured Loan transferred to the Assuming Bank pursuant to Section 3.1 3.1(e) which is not fully secured by Assumed Deposits or deposits at other insured depository institutions due to either insufficient Assumed Deposit or deposit collateral or deficient documentation regarding such collateral; provided with regard to any Deposit Secured Loan secured by an Assumed Deposit, no such purchase may be required until any Deposit setoff determination, whether voluntary or involuntary, has been made; and, and at the end of the thirty (30)-day period following the Bank Closing Date and at that time only, in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any remaining overdraft transferred to the Assuming Bank pursuant to 3.1 3.1(l) which both was made after the Bid Valuation Date and was not made pursuant to an overdraft protection plan or similar extension of credit. Notwithstanding the foregoing, the Assuming Bank shall not have the right to require the Receiver to purchase any Loan if (i) the Obligor with respect to such Loan is an Acquired Subsidiary, or (ii) the Assuming Bank has:

Puts of Assets to the Receiver. (a) Puts Within PUTS WITHIN 14 AND AT 30 Days After Bank ClosingDAYS AFTER BANK CLOSING DATE. During the thirty fourteen (30)-day 14)-day period following Bank Closing Date and only during such period (which thirty fourteen (30)-day 14)-day period may be extended in writing in the sole absolute discretion of the Receiver for any Loan), in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any Deposit Secured Loan transferred to the Assuming Bank pursuant to Section 3.1 Section.3.1(e) which is not fully secured by Assumed Deposits or deposits at other insured depository institutions due to either insufficient Assumed Deposit or deposit collateral or deficient documentation regarding such collateral; provided with regard to any Deposit Secured Loan secured by an Assumed Deposit, no such purchase may be required until any Deposit setoff determination, whether voluntary or involuntary, has been made; and, P & A 991022 12 Reliance Bank, White Plains, NY at the end of the thirty (30)-day period following Bank Closing Date and at that time only, in accordance with this Section 3.4, the Assuming Bank shall be entitled to require the Receiver to purchase any remaining overdraft transferred to the Assuming Bank pursuant to 3.1 3.1(1) which both was made after the Bid Valuation Date "as of" date of the Information Package and was not made pursuant to an overdraft protection plan or similar extension of credit. Notwithstanding the foregoing, the Assuming Bank shall not have the right to require the Receiver to purchase any Loan if (i) the Obligor with respect to such Loan is an Acquired Subsidiary, or (ii) the Assuming Bank has:: made any advance in accordance with the terms of a Commitment or otherwise with respect to such Loan; taken any action that increased the amount of a Related Liability with respect to such Loan over the amount of such liability immediately prior to the time of such action; created or permitted to be created any Lien on such Loan which secures indebtedness for money borrowed or which constitutes a conditional sales agreement, capital lease or other title retention agreement; entered into, agreed to make, grant or permit, or made, granted or permitted any modification or amendment to, any waiver or extension with respect to, or any renewal, refinancing or refunding of, such Loan or related Credit Documents or collateral, including, without limitation, any act or omission which diminished such collateral; or sold, assigned or transferred all or a portion of such Loan to a third party (whether with or without recourse). The Assuming Bank shall transfer all such Loans to the Receiver without recourse, and shall indemnify the Receiver against any and all claims of any Person claiming by, through or under the Assuming Bank with respect to any such Loan, as provided in Section 12.4.