Common use of As of the Effective Date Clause in Contracts

As of the Effective Date. (a) NBDC Bank shall be merged into ▇▇▇▇▇ Bank and be continued in the Resulting Institution. (b) In accordance with Sections 1606 of the Banking Code of 1965 of the Commonwealth of Pennsylvania, and Section 336 of the Associations Code of the Commonwealth of Pennsylvania, all of the property, assets and rights of every kind and character of NBDC Bank (including, without limitation, all real, personal or mixed property, all debts due on accounts, all other choses in action and all and every other interest of or belonging to or due NBDC Bank, whether tangible or intangible) shall be transferred to and vest in ▇▇▇▇▇ Bank, and ▇▇▇▇▇ Bank shall succeed to all the rights, privileges, immunities, powers, purposes and franchises of a public and private nature (including all trust and fiduciary properties, powers and rights) of NBDC Bank, all without conveyance, assignment or further act or deed; and ▇▇▇▇▇ Bank shall become responsible for all of the liabilities, duties and obligations of every kind and description (including duties as trustee or fiduciary) of NBDC Bank as of the Effective Date. (c) The Resulting Institution shall be liable for all liabilities of every kind and description, including liabilities arising out of the operation of a trust department, of each of the Merging Banks existing immediately prior to the Effective Date, to the extent provided by law.

As of the Effective Date. (a) NBDC North Penn Bank shall be merged into ▇▇▇▇▇ Bank and be continued in the Resulting Surviving Institution. (b) In accordance with Sections 1606 of the Banking Code of 1965 of the Commonwealth of Pennsylvania, and Section 336 1929 of the Associations Code Business Corporation Law of 1988 of the Commonwealth of Pennsylvania, all of the property, assets and rights of every kind and character of NBDC North Penn Bank (including, without limitation, all real, personal or mixed property, all debts due on accounts, all other choses in action and all and every other interest of or belonging to or due NBDC North Penn Bank, whether tangible or intangible) shall be transferred to and vest in ▇▇▇▇▇ Bank, and ▇▇▇▇▇ Bank shall succeed to all the rights, privileges, immunities, powers, purposes and franchises of a public and private nature (including all trust and fiduciary properties, powers and rights) of NBDC North Penn Bank, all without conveyance, assignment or further act or deed; and ▇▇▇▇▇ Bank shall become responsible for all of the liabilities, duties and obligations of every kind and description (including duties as trustee or fiduciary) of NBDC North Penn Bank as of the Effective Date. (c) The Resulting Surviving Institution shall be liable for all liabilities of every kind and description, including liabilities arising out of the operation of a trust department, of each of the Merging Banks existing immediately prior to the Effective Date, to the extent provided by law.