Common use of Operating Relationship Clause in Contracts

Operating Relationship. On or prior to the Closing Date, the Borrowers will transfer all of their primary depositary and operating accounts which are currently maintained with First Union National Bank to Imperial Bank, and thereafter shall maintain all of their primary depositary and operating accounts with Imperial Bank. In addition, (i) as soon as practicable after the Closing Date, and provided that Imperial Bank offers comparable services, the Borrowers will transfer all of their depositary and operating accounts which are currently maintained with Sanwa Bank to Imperial Bank, and thereafter shall maintain all such accounts with Imperial Bank, and (ii) commencing on the Closing Date, the Borrowers will maintain on deposit with PFF non-interest bearing demand deposit balances of not less than $300,000. All deposit balances shall be calculated after reduction for the reserve requirement of the Federal Reserve Board and uncollected funds. Any deficiencies therein shall be charged directly to the Borrowers on a monthly basis.