Common use of Puts Prior to the Settlement Date Clause in Contracts

Puts Prior to the Settlement Date. During the period from the Bank Closing Date to and including the Business Day immediately preceding the Settlement Date, the Agent Bank shall be entitled to require the Receiver to purchase any Asset which the Agent Bank can establish is evidenced by forged or stolen instruments as of the Bank Closing Date; provided, that, the Agent Bank shall not have the right to require the Receiver to purchase any such Asset with respect to which the Agent Bank has taken any action referred to in Section 3.4(a) with respect to such Asset. The Agent Bank shall transfer all such Assets to the Receiver without recourse, and shall indemnify the Receiver against any and all claims of any Person claiming by, through or under the Agent Bank with respect to any such Asset.