Common use of Existence and Authority Clause in Contracts

Existence and Authority. The Purchaser is a national banking association, duly organized, validly existing, and in good standing under the laws of the United States of America, and has the requisite power and authority to carry on its business as now conducted and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) to acquire the Acquired Assets and operate the Business. The Purchaser’s deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized, validly existing, organized and in good standing under the laws of the United States of America, and has the requisite corporate power and authority to carry on its business as now conducted and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) and to acquire the Acquired Assets and operate the BusinessBusiness as currently conducted or as proposed to be conducted. The Purchaser’s Purchaser and its deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a national banking association, duly organizedfederal savings bank, validly existing, existing and in good standing under the laws of the United States of America, and has the requisite corporate power and authority to carry on its business as now conducted and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) and to acquire the Acquired Assets and operate the Business. The Purchaser’s Purchaser and its deposits are insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

Existence and Authority. The Purchaser is a national banking association, duly organized, organized and validly existing, and in good standing existing under the laws of the United States of AmericaStates, and has the requisite power and authority to carry on its business as now conducted and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) and to acquire the Acquired Assets and operate the Business, including extending credit and maintaining the loans extended pursuant to the Credit Card Agreements. The Purchaser’s deposits deposit liabilities are insured by the Federal Deposit Insurance Corporation and all premiums and assessments required to be paid in connection therewith have been paid by the fullest extent permitted by lawPurchaser when due.

Existence and Authority. The Purchaser is a validly existing national banking association, duly organized, validly existing, organized and in good standing under the laws of the United States of America, and has the requisite corporate power and authority to carry on its business as now conducted and, subject to receipt of the governmental approvals referred to in subsection 4.2(c) and to acquire the Acquired Assets and operate Pier 1 Bank and the Business. The Purchaser’s deposits are insured by the Federal Deposit Insurance Corporation Business as currently conducted or as proposed to the fullest extent permitted by lawbe conducted.