Common use of Payment of Checks, Drafts and Orders Clause in Contracts

Payment of Checks, Drafts and Orders. After the Effective Time, Buyer agrees (i) to pay in accordance with applicable law, the Deposit Agreements and customary banking practice all checks, drafts and withdrawal orders properly drawn by Depositors and properly presented to Buyer, whether drawn on the checks, withdrawal or draft forms provided by Seller or by Buyer, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Buyer under this Agreement are sufficient to permit the payment Branch Purchase and Assumption Agreement thereof (after taking into account any overdraft protection rights of the Depositors), and (ii) in all other respects to discharge, in accordance with applicable law, the Depository Agreements and customary banking practice in the usual course of its banking business, all duties and obligations of Seller with respect to the balances due and owing to the Depositors. If any of the Depositors shall demand payment from Seller for all or any part of any Deposit, Seller shall not be liable or responsible for making such payment. As of the Closing Date, Buyer shall become the “holder,” as that term is defined in the Texas Property Code (Tex. Prop. Code ▇▇▇. Section 73.001), of all the Deposits and safe deposit boxes that Buyer assumes under this Agreement. Buyer will be responsible for the escheat of any property for which it becomes the holder and that becomes abandoned during the calendar year in which the Closing occurs.

Payment of Checks, Drafts and Orders. After the Effective Time, Buyer agrees (i) to pay in accordance with applicable law, the Deposit Agreements and customary banking practice all checks, drafts and withdrawal orders properly drawn by Depositors and properly presented to Buyer, whether drawn on the checks, withdrawal or draft forms provided by Seller or by Buyer, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Buyer under this Agreement are sufficient to permit the payment Branch Purchase and Assumption Agreement thereof (after taking into account any overdraft protection rights of the Depositors), and (ii) in all other respects to discharge, in accordance with applicable law, the Depository Agreements and customary banking practice in the usual course of its banking business, all duties and obligations of Seller with respect to the balances due and owing to the Depositors. If any of the Depositors shall demand payment from Seller for all or any part of any Deposit, Seller shall not be liable or responsible for making such payment. As of the Closing Date, Buyer shall become the “holder,” as that term is defined in the Texas Property Code (Tex. Prop. Code ▇▇▇. Section 73.001), of all the Deposits and safe deposit boxes that Buyer assumes under this Agreement. Buyer will be responsible for the escheat of any property for which it becomes the holder and that becomes abandoned during the calendar year in which the Closing occurs.

Payment of Checks, Drafts and Orders. After the Effective Timeeffective time of the Closing, Buyer Purchaser agrees (i) to pay in accordance with applicable law, the agreements related to the Deposit Agreements (the “Deposit Agreements”) and customary banking practice all checks, drafts and withdrawal orders properly drawn by Depositors depositors and properly presented to BuyerPurchaser, whether drawn on the checks, withdrawal or draft forms provided by Seller or by BuyerPurchaser, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Buyer Purchaser under this Agreement are sufficient to permit the payment Branch Purchase and Assumption Agreement thereof (after taking into account any overdraft protection rights of the Depositorsdepositors), and (ii) in all other respects to discharge, in accordance with applicable law, the Depository Deposit Agreements and customary banking practice in the usual course of its banking business, all duties and obligations of Seller with respect to the balances due and owing to the Depositorsdepositors. If any of the Depositors depositors shall demand payment from Seller for all or any part of any Deposit, Seller shall not be liable or responsible for making such payment. As of the Closing Datedate of Closing, Buyer Purchaser shall become the “holder,” ”, as that term is defined in the Texas Property Code (Tex. Prop. Code ▇▇▇. Section 73.001), of all the Deposits and safe deposit boxes and safekeeping items that Buyer Purchaser assumes under this Agreement. Buyer Purchaser will be responsible for the escheat of any property for which it becomes the holder and that becomes abandoned during the calendar year in which the Closing occurs.