Assignment of Rights and Assumption of Obligations. Pursuant to Section 6.12(b) of the Merger Agreement and Section VII of the Agreement, FNBD hereby assumes all of the obligations of the Bank under the Agreement and the Executive acknowledges that FNBD has succeeded to all of the rights of the Bank under the Agreement as successor to the Bank. Beginning at the Effective Time, all references to the Bank contained in the Agreement shall be deemed to be references to FNBD and all references to FNB shall be deemed references to FNLC.
Appears in 2 contracts
Sources: Employment Continuity Agreement (First National Lincoln Corp /Me/), Employment Continuity Agreement (First National Lincoln Corp /Me/)