Transfer of Failed Bank Records Sample Clauses

The "Transfer of Failed Bank Records" clause governs the process by which records and documentation of a bank that has failed are transferred to another entity, such as a regulatory authority or acquiring institution. Typically, this clause outlines the types of records to be transferred, the timeframe for the transfer, and the responsibilities of both the failed bank and the recipient. For example, it may require the prompt delivery of customer account information, loan documents, and transaction histories to ensure continuity of service and regulatory compliance. The core function of this clause is to facilitate a smooth transition and maintain the integrity of financial records during the resolution of a failed bank, thereby protecting customers and supporting regulatory oversight.
Transfer of Failed Bank Records. In accordance with Sections 2.1 and 3.1, the Receiver assigns, transfers, conveys and delivers to the Assuming Institution, wherever located, any and all Failed Bank Records, other than the following: (a) Failed Bank Records pertaining to former employees of the Failed Bank who were no longer employed by the Failed Bank as of the Bank Closing Date and Failed Bank Records pertaining to employees of the Failed Bank who were employed by the Failed Bank as of the Bank Closing Date and for whom the Receiver is unable to obtain a waiver to release such Failed Bank Records to the Assuming Institution; (b) Failed Bank Records pertaining to (i) any asset or liability of the Failed Bank retained by the Receiver, and (ii) any asset of the Failed Bank acquired by the Receiver pursuant to this Agreement; and (c) any other Failed Bank Records as determined by the Receiver.
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Transfer of Failed Bank Records. The Receiver transfers all rights and interests, possession, custody, and control of the Bridge FB Records to the Bridge Bank, subject to the Receiver’s rights and interests in this Article V. The Bridge Bank acknowledges and agrees that it has custody of the Custodial FB Records, wherever located.
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Transfer of Failed Bank Records. In accordance with Sections 2.1 and 3.1, the Receiver assigns, transfers, conveys and delivers to the Assuming Institution, whether located on Bank Premises occupied or not occupied by the Assuming Institution or at any other location, the following: (a) all Failed Bank Records pertaining to the Assumed Deposits, but not limited to, the following: (i) signature cards, orders, contracts between the Failed Bank and its depositors and Failed Bank Records of similar character; (ii) passbooks of depositors held by the Failed Bank, deposit slips, cancelled checks and withdrawal orders representing charges to accounts of depositors; and (b) all Failed Bank Records pertaining to the Acquired Assets, including, but not limited to, the following: (i) Failed Bank Records of deposit balances carried with other banks, bankers or trust companies; (ii) Loan and collateral Failed Bank Records and Credit Files and other documents; (iii) deeds, mortgages, abstracts, surveys, and other instruments or records of title pertaining to real estate or real estate mortgages; (iv) signature cards, agreements and Failed Bank Records pertaining to Safe Deposit Boxes, if any; and
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Transfer of Failed Bank Records. In accordance with Sections 2.1 and 3.1, the Receiver assigns, transfers, conveys and delivers to the Assuming Institution, whether located on Bank Premises occupied or not occupied by the Assuming Institution or at any other location, the following: (a) all Failed Bank Records pertaining to the Assumed Deposits, but not limited to, the following: (i) signature cards, orders, contracts between the Failed Bank and its depositors and Failed Bank Records of similar character; (ii) passbooks of depositors held by the Failed Bank, deposit slips, cancelled checks and withdrawal orders representing charges to accounts of depositors; and (b) all Failed Bank Records pertaining to the Acquired Assets, including, but not limited to, the following: (i) Failed Bank Records of deposit balances carried with other banks, bankers or trust companies; (ii) Loan and collateral Failed Bank Records and Credit Files and other documents; (iii) deeds, mortgages, abstracts, surveys, and other instruments or records of title pertaining to real estate or real estate mortgages; Basic P&A Agreement (VB. Illinois). Valley Bank. Version 6..2P — PURCHASE AND ASSUMPTION AGREEMENT Moline, 1L (iv) signature cards, agreements and Failed Bank Records pertaining to Safe Deposit Boxes, if any; and
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Transfer of Failed Bank Records. In accordance with Sections 2.1 and 3.1, the Receiver assigns, transfers, conveys and delivers to the Assuming Institution, whether located on Bank Premises occupied or not occupied by the Assuming Institution or at any other location, the following: 41 41 Basic P&A Agreement Version 6.2P – PURCHASE AND ASSUMPTION AGREEMENT Basic P&A Agreement
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Related to Transfer of Failed Bank Records

  • EXAMINATION OF RECORDS The Contractor shall maintain during the course of the work complete and accurate records of all of the Contractor's costs and documentation of items which are chargeable to H-GAC under this Agreement. H-GAC, through its staff or designated public accounting firm, the State of Texas, and United States Government, shall have the right at any reasonable time to inspect, copy and audit those records on or off the premises by authorized representatives of its own or any public accounting firm selected by H- GAC. The right of access to records is not limited to the required retention period, but shall last as long as the records are retained. Failure to provide access to records may be cause for termination of the Agreement. The records to be thus maintained and retained by the Contractor shall include (without limitation): (1) personnel and payroll records, including social security numbers and labor classifications, accounting for total time distribution of the Contractor's employees working full or part time on the work, as well as cancelled payroll checks, signed receipts for payroll payments in cash, or other evidence of disbursement of payroll payments; (2) invoices for purchases, receiving and issuing documents, and all other unit inventory records for the Contractor's stocks or capital items; and (3) paid invoices and cancelled checks for materials purchased and for subcontractors' and any other third parties' charges. The Contractor further agrees that the examination of records outlined in this article shall be included in all subcontractor or third-party agreements.

  • Transfer of Records (a) In accordance with Section 3.1, the Receiver assigns, transfers, conveys and delivers to the Assuming Bank the following Records pertaining to the Deposit liabilities of the Failed Bank assumed by the Assuming Bank under this Agreement, except as provided in Section 6.4: (i) signature cards, orders, contracts between the Failed Bank and its depositors and Records of similar character; (ii) passbooks of depositors held by the Failed Bank, deposit slips, cancelled checks and withdrawal orders representing charges to accounts of depositors; and the following Records pertaining to the Assets: (iii) records of deposit balances carried with other banks, bankers or trust companies; (iv) Loan and collateral records and Credit Files and other documents; (v) deeds, mortgages, abstracts, surveys, and other instruments or records of title pertaining to real estate or real estate mortgages; (vi) signature cards, agreements and records pertaining to Safe Deposit Boxes, if any; and (vii) records pertaining to the credit card business, trust business or safekeeping business of the Failed Bank, if any. (b) The Receiver, at its option, may assign and transfer to the Assuming Bank by a single blanket assignment or otherwise, as soon as practicable after Bank Closing, any other Records not assigned and transferred to the Assuming Bank as provided in this Agreement, including but not limited to loan disbursement checks, general ledger tickets, official bank checks, proof transactions (including proof tapes) and paid out loan files.

  • Financial Records 26.1.1 CONTRACTOR shall prepare and maintain accurate and complete financial records. Financial records shall be retained by CONTRACTOR for a minimum of five (5) years from the date of final payment under this Contract, or until all pending COUNTY, State, and federal audits are completed, whichever is later. 26.1.2 CONTRACTOR shall establish and maintain reasonable accounting, internal control, and financial reporting standards in conformity with generally accepted accounting principles established by the American Institute of Certified Public Accountants and to the satisfaction of ADMINISTRATOR.