purchase and assumption agreement whole bank all deposits - FDIC

More documents

Recommendations

Info

viable option) alternatives and shall select the alternative resulting in the least Loss. Assuming Bank shall retain its calculations ofthe estimated loss under each alternative, such calculations to be provided to the Receiver upon request. (b) Monthly Certificates. Not later than fifteen (15) days after the end ofeach Shared-Loss Month, beginning with the month in which the Commencement Date occurs and ending in the month in which the tenth anniversary ofthe Commencement Date occurs, the Assuming Bank shall deliver to the Receiver a certificate, signed by an officer ofthe Assuming Bank involved in, or responsible for, the administration and servicing ofthe Single Family Shared-Loss Loans whose name appears on a list of servicing officers furnished by the Assuming Bank to the Receiver, (a "Servicing Officer") setting forth in such form and detail as the Receiver may reasonably specify (a "Monthly Certificate"): (A) a schedule substantially in the form ofExhibit 1 listing: (i) each Single Family Shared-Loss Loan for which a Loss Amount (calculated in accordance with the applicable Exhibit) is being claimed, the related Loss Amount for each Single Family Shared Loss Loan, and the total Monthly Loss Amount for all Single Family Shared-Loss Loans; (ii) each Single Family Shared-Loss Loan for which a Recovery Amount was received, the Recovery Amount for each Single Family Shared-Loss Loan, and the total Recovery Amount for all Single Family Shared-Loss Loans; (iii) the total Monthly Loss Amount for all Single Family Shared Loss Loans minus the total monthly Recovery Amount for all Single Family Shared-Loss Loans; (iv) the Cumulative Shared-Loss Amount as ofthe beginning and end ofthe month; (v) the Monthly Shared Loss Amount; (vi) the result obtained in (v) times 80%, or times 95% ifthe Stated Threshold has been reached, which in either case is the amount to be paid under Section 2.1(d) ofthis Single Family Shared-Loss Agreement by the Receiver to the Assuming Bank ifthe amount is a positive number, or by the Assuming Bank to the Receiver ifthe amount is a negative number; (B) for each ofthe Single Family Shared-Loss Loans for which a Loss is claimed for that Shared-Loss Month, a schedule showing the calculation ofthe Loss Amount using the form and methodology \\''bole Bank P&A wiLoss Sharing Alliance Bank 52 February 6, 2009 Culver City, CA
shown in Exhibit 2a, Exhibit 2b, or Exhibit 2c, as applicable. (C) For each ofthe Restructured Loans where a gain or loss is realized in a sale under Section 4.1 or 4.2, a schedule showing the calculation using the form and methodology shown in Exhibit 2d. (D) a portfolio performance and summary schedule substantially in the form shown in Exhibit 3. Whole Bank P&A w/Loss Sharing Alliance Bank 53 February 6, 2009 Culver City, CA
Page 1 and 2:
PURCHASE AND ASSUMPTION AGREEMENT W
Page 3 and 4:
ARTICLE V 5.1 5.2 5.3 ARTICLE VI 6.
Page 5 and 6: PURCHASE AND ASSUMPTION AGREEMENT W
Page 7 and 8: "Bank Closing" means the close of b
Page 9 and 10: (2) Both parties are well informed
Page 11 and 12: "Other Real Estate" means all inter
Page 13 and 14: Assuming Bank, if such securing Ass
Page 15 and 16: plans, if any, unless the Receiver
Page 17 and 18: (iii) a statement ofthe estimated R
Page 19 and 20: discretion (together with all Credi
Page 21 and 22: whatever action is necessary to acc
Page 23 and 24: Furniture and Equipment and Fixture
Page 25 and 26: Failed Bank provides mortgage servi
Page 27 and 28: 4.14 Reserved. 4.15 Agreement with
Page 29 and 30: 6.3 Preservation of Records. The As
Page 31 and 32: whether by way oftransfer, set-off,
Page 33 and 34: any ofits Subsidiaries, which, eith
Page 35 and 36: (2) claims with respect to any liab
Page 37 and 38: (g) take reasonable action as the R
Page 39 and 40: othen:vise specifically provided in
Page 41: 13.13 Survival of Covenants, Etc. T
Page 44 and 45: SCHEDULE 3.1 - Certain Assets Purch
Page 46 and 47: SCHEDULE 3.2- Purchase Price of Ass
Page 48 and 49: EXHIBIT 3.2(c) --VALUATION OF CERTA
Page 50 and 51: EXHIBIT 4.13 INTERIM ASSET SERVICIN
Page 52 and 53: SCHEDULE 4.l5A LOANS SUBJECT TO LOS
Page 55: Then-Current Interest Rate. Each Re
Page 59 and 60: (d) Payments With Respect to Shared
Page 61 and 62: 2.7 Sale of Single Family Shared-Lo
Page 63 and 64: Bank exercises its option under thi
Page 65 and 66: 6.1 Expenses. Except as otherwise e
Page 67 and 68: Exhibit 1 Monthly Certificate SEE F
Page 72: Calculation of Loss For Restructure
Page 78 and 79: 90- 119 days past due 120 and over
Page 80 and 81: Objective FDIC MORTGAGE LOAN MODIFI
Page 82 and 83: 3. Modified loans shall not include
Page 84 and 85: EXHIBIT 4.15B NON-SINGLE FAMILY SHA
Page 86 and 87: "FDIC Party" has the meaning provid
Page 88 and 89: Shared-Loss Quarter; plus (ii) the
Page 90 and 91: "Recovery Amount" has the meaning p
Page 92 and 93: "Review Board" has the meaning prov
Page 94 and 95: (B) the aggregate amount ofReimburs
Page 96 and 97: collection ofany such Asset, that s
Page 98 and 99: such other actions as may be necess
Page 100 and 101: public health or safety, or of suff
Page 102 and 103: Day of each Calendar Quarter during
Page 104 and 105: (iv) except as otherwise provided h
Page 106:
550 17th Street, N.W. Washington, D
show all

purchase and assumption agreement whole bank all deposits - FDIC

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?