Common use of Vacating Premises Clause in Contracts

Vacating Premises. (i) If the Assuming Institution elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Institution’s occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Institution’s notice not to exercise such option. The Assuming Institution shall promptly be responsible for relinquishing and releasing to the Receiver such premises and the Fixtures, Furniture and Equipment located thereon which existed at the time of Bank Closing, in the same condition as at Bank Closing and

Vacating Premises. (i) If the Assuming Institution Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming InstitutionBank’s occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming InstitutionBank’s notice not to exercise such option. The Assuming Institution Bank promptly shall promptly be responsible for relinquishing relinquish and releasing release to the Receiver such premises and the Fixtures, Furniture and Equipment and Fixtures located thereon which existed at the time of Bank Closing, in the same condition as at Bank Closing andClosing,