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 in the first recital.

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.

• At any time after Bank Closing, the Receiver may establish on its books an asset pool(s) and may transfer to such asset pool(s) (by means of accounting entries on the books of the Receiver) all or any assets and liabilities of the Failed Bank which are not acquired by the Assuming Institution, including, without limitation, wholly unfunded Commitments and assets and liabilities which may be acquired, funded or originated by the Receiver subsequent to Bank Closing.

More Definitions of Failed Bank

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

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

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

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.

Failed Bank means First National Bank of Nevada.

Failed Bank has the meaning set forth in the Purchase and Assumption Agreement. “Failed Bank Charge-Offs” means, with respect to any Asset, an amount equal to the aggregate reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Asset as reflected on the Accounting Records of the Failed Bank.