REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK Sample Clauses
The "Representations and Warranties of the Assuming Bank" clause sets out the specific statements and assurances that the bank taking on certain obligations or assets must make to the other party. Typically, these representations cover the bank’s authority to enter into the agreement, its financial condition, compliance with laws, and the absence of pending litigation or regulatory issues that could affect the transaction. By requiring these assurances, the clause helps ensure that the assuming bank is legally and financially capable of fulfilling its obligations, thereby reducing the risk of future disputes or unexpected liabilities for the other party.
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming Bank represents and warrants to the Corporation and the Receiver as follows:
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming Bank represents and warrants to the Corporation and the Receiver as follows:
Module 1 Whole Bank w/ Loss Share – P&A Version 1.12 November 17, 2009 31 FIRST REGIONAL BANK Los Angeles, CA
(a) Corporate Existence and Authority. The Assuming Bank (i) is duly organized, validly existing and in good standing under the laws of its Chartering Authority and has full power and authority to own and operate its properties and to conduct its business as now conducted by it, and (ii) has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The Assuming Bank has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and the performance of the transactions contemplated hereby.
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming Bank represents and warrants to Seller as follows:
(a) Corporate Existence and Authority. The Assuming Bank (i) is duly organized, validly existing and in good standing under the laws of the United States and has full power and authority to own and operate its properties and to conduct its business as now conducted by it, and (ii) subject to regulatory approval, has full power and authority to execute and deliver this Agreement and to perform its obligations under this Agreement in accordance with its terms. The Assuming Bank has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and the performance of the transactions contemplated hereby.
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming ---------------------------------------------------- Bank represents and warrants to Seller as follows:
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming Bank represents and warrants to the Corporation and the Receiver as follows: Whole Bank P&A w/Loss Sharing COUNTY BANK 6 February 2009 MERCED, CA
REPRESENTATIONS AND WARRANTIES OF THE ASSUMING BANK. The Assuming Bank represents and warrants to the Corporation and the Receiver as follows:
(a) Corporate Existence and Authority. The Assuming Bank (i) is duly organized, validly existing and in good standing under the laws of its Chartering Authority and has full power and authority to own and operate its properties and to conduct its business as now conducted by it, and (ii) has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The Assuming Bank has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and the performance of the transactions contemplated hereby.
(b) Third Party Consents. No governmental authority or other third party consents (including but not limited to approvals, licenses, registrations or declarations) are required in connection with the execution, delivery or performance by the Assuming Bank of this Agreement, other than such consents as have been duly obtained and are in full force and effect.