Common use of Purchase by Receiver Clause in Contracts

Purchase by Receiver. The Receiver shall purchase Assets that are specified in the Put Notice and shall assume Related Liabilities with respect to such Assets, and the transfer of such Assets and Related Liabilities shall be effective as of a date determined by the Receiver which date shall not be later than thirty (30) days after receipt by the Receiver of the Put Notice (the “Put Date”). Module 1 Whole Bank w/ Loss Share – P&A Version 1.12 November 17, 2009 13 FIRST REGIONAL BANK Los Angeles, CA