Common use of Purchase and Assumption Clause in Contracts

Purchase and Assumption. The Bank and First Alliance Bank shall have entered into and shall, prior to or contemporaneously with the Closing hereof, consummate the Purchase and Assumption Transaction pursuant to an agreement substantially in the form of Exhibit 1 attached hereto, as a result of which the financial position of the Bank will conform to the Bank Financial Statement referred to in Section 4.4 hereof.

Appears in 3 contracts

Sources: Stock Purchase Agreement (First Alliance/Premier Bancshares Inc), Stock Purchase Agreement (Netbank Inc), Stock Purchase Agreement (Netbank Inc)