Common use of Safe Deposit Box and Safekeeping Business Clause in Contracts

Safe Deposit Box and Safekeeping Business. From and after the Effective Time, Buyer agrees to assume and discharge, in the usual course of banking business, the duties and obligations of Seller with respect to all safe deposit boxes located in the Branch, and to maintain all necessary facilities for the use of such boxes by the renters thereof during the period for which such persons have paid rent therefore in advance to Seller, subject to the provisions of the rental agreements between Seller and the respective renters of such boxes. From and after the Closing, Buyer shall assume, honor, and discharge the duties and obligations of Seller with respect to all safekeeping items obtained from Seller and shall be entitled to any right or benefit thereafter. Buyer is not assuming any liabilities of Seller with respect to safe deposit boxes or safe keeping items arising or based upon circumstances, events, acts or omissions occurring prior to the Effective Time, or any obligations of Seller with respect to the safe deposit boxes or safe keeping items to be performed prior to the Effective Time. At the Closing, Seller shall provide Buyer with a true and correct list of all Safe Deposit Contracts with respect to the Branch in effect as of the Closing Date, together with the rentals or other amounts paid on such Safe Deposit Contracts and the expiration dates of such Safe Deposit Contracts. Branch Purchase and Assumption Agreement

Safe Deposit Box and Safekeeping Business. From and after the Effective TimeClosing, Buyer Purchaser agrees to assume and discharge, in the usual course of banking business, the duties and obligations of Seller with respect to all safe deposit boxes located in the Eagle Pass Branch, and to maintain all necessary facilities for the use of such boxes by the renters thereof during the period for which such persons have paid rent therefore therefor in advance to Seller, subject to the provisions of the rental agreements between Seller Safe Deposit Contracts and the respective renters of such boxesSafekeeping Contracts. From and after the Closing, Buyer Purchaser shall assume, honor, and discharge the duties and obligations of Seller with respect to all safekeeping items obtained from Seller and shall be entitled to any right or benefit thereafter. Buyer is not assuming Within 30 days of the date of this Agreement, Seller shall audit all items currently held for safekeeping at the Eagle Pass Branch and provide Purchaser with an inventory thereof, and from and after the date of such inventory until the effective time of the Closing, Seller shall maintain a list of any liabilities of Seller with respect items added to safe deposit boxes or safe keeping items arising or based upon circumstancesremoved from safekeeping at the Eagle Pass Branch, events, acts or omissions occurring prior which list shall be provided to Purchaser at the Effective Time, or any obligations of Seller with respect to the safe deposit boxes or safe keeping items to be performed prior to the Effective TimeClosing. At the Closing, Seller shall provide Buyer Purchaser with a true and correct list of all Safe Deposit Contracts with respect to the Branch and Safekeeping Contracts in effect as of the Closing Datedate of Closing, together with the rentals or other amounts paid on such Safe Deposit Contracts agreements and contracts and the expiration dates of such Safe Deposit Contracts. Branch Purchase and Assumption Agreementcontracts.