Common use of Fiduciary Relationships Clause in Contracts

Fiduciary Relationships. Purchaser agrees to assume all of the fiduciary relationships of Seller arising out of any IRA deposits assumed by P▇▇▇haser pursuant to Section 2.4 hereof, to the same extent as if Purchaser had originally acquired, incurred or entered into such fiduciary relationships. Notwithstanding anything in this Agreement to the contrary, however, Purchaser will not assume or be responsible for any act or failure to act of Seller in connection with such IRA deposits prior to the ▇▇osing Date.

Appears in 1 contract

Sources: Purchase and Assumption Agreement (Community Capital Corp /Sc/)

Fiduciary Relationships. Purchaser agrees to assume all of the fiduciary relationships of Seller arising out of any IRA deposits assumed by PPurchaser p▇▇▇haser pursuant uant to Section 2.4 hereof, to the same extent as if Purchaser had originally acquired, incurred or entered into such fiduciary relationships. Notwithstanding anything in this Agreement to the contrary, however, Purchaser will not assume or be responsible for any act or failure to act of Seller in connection with such IRA deposits prior to the Closing D▇▇osing Date.

Appears in 1 contract

Sources: Purchase and Assumption Agreement (Community Capital Corp /Sc/)