ARTICLE I DEFINITIONS ...........................................................................................2
ARTICLE II ASSUMPTION OF LIABILITIES...........................................................9
2.1 Liabilities Assumed by Assuming Bank......................................................9
2.2 Interest on Deposit Liabilities....................................................................10
2.3 Unclaimed Deposits...................................................................................11
2.4 Employee Benefit Plans.............................................................................11
ARTICLE III PURCHASE OF ASSETS .......................................................................11
3.1 Assets Purchased by Assuming Bank........................................................11
3.2 Asset Purchase Price......................................................................12
3.3 Manner of Conveyance; Limited Warranty;
Nonrecourse; Etc............................................................................12
3.4 Puts of Assets to the Receiver....................................................................12
3.5 Assets Not Purchased by Assuming Bank.................................................14
3.6 Assets Essential to Receiver ......................................................................16
ARTICLE IV ASSUMPTION OF CERTAIN DUTIES AND OBLIGATIONS........17
4.1 Continuation of Banking Business ............................................................17
4.2 Agreement with Respect to Credit Card Business.....................................17
4.3 Agreement with Respect to Safe Deposit Business ...................................17
4.4 Agreement with Respect to Safekeeping Business....................................18
4.5 Agreement with Respect to Trust Business ...............................................18
4.6 Agreement with Respect to Bank Premises...............................................18
4.7 Agreement with Respect to Leased Data
Processing Equipment....................................................................21
4.8 Agreement with Respect to Certain
Existing Agreements......................................................................22
4.9 Informational Tax Reporting .....................................................................22
4.10 Insurance....................................................................................................23
4.11 Services for Receiver and Corporation......................................................23
4.12 Agreement with Respect to Continuation of Group
Health Plan Coverage for Former Employees ...........................................23
4.13 Agreement with Respect to Interim Asset Servicing.................................24
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ARTICLE V DUTIES WITH RESPECT TO DEPOSITORS
OF THE FAILED BANK........................................................................24
5.1 Payment of Checks, Drafts and Orders......................................................24
5.2 Certain Agreements Related to Deposits ...................................................25
5.3 Notice to Depositors ..................................................................................25
ARTICLE VI RECORDS................................................................................................25
6.1 Transfer of Records....................................................................................25
6.2 Delivery of Assigned Records ...................................................................26
6.3 Preservation of Records .............................................................................26
6.4 Access to Records; Copies.........................................................................26
ARTICLE VII BID; INITIAL PAYMENT .....................................................................27
ARTICLE VIII ADJUSTMENTS......................................................................................27
8.1 Pro Forma Statement..................................................................................27
8.2 Correction of Errors and Omissions; Other Liabilities..............................27
8.3 Payments....................................................................................................28
8.4 Interest .......................................................................................................28
8.5 Subsequent Adjustments............................................................................28
ARTICLE IX CONTINUING COOPERATION..........................................................28
9.1 General Matters..........................................................................................28
9.2 Additional Title Documents.......................................................................28
9.3 Claims and Suits ........................................................................................29
9.4 Payment of Deposits ..................................................................................29
9.5 Withheld Payments ....................................................................................29
9.6 Proceedings with Respect to Certain Assets
and Liabilities ................................................................................30
9.7 Information ................................................................................................30
ARTICLE X CONDITION PRECEDENT ..................................................................30
ARTICLE XI REPRESENTATIONS AND WARRANTIES OF THE
ASSUMING BANK .................................................................................31
ARTICLE XII INDEMNIFICATION .............................................................................32
12.1 Indemnification of Indemnitees .................................................................32
12.2 Conditions Precedent to Indemnification ..................................................35
12.3 No Additional Warranty ............................................................................36
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12.4 Indemnification of Corporation and Receiver ...........................................36
12.5 Obligations Supplemental..........................................................................36
12.6 Criminal Claims.........................................................................................36
12.7 Limited Guaranty of the Corporation ........................................................37
12.8 Subrogation................................................................................................37
ARTICLE XIII MISCELLANEOUS ................................................................................37
13.1 Entire Agreement.......................................................................................37
13.2 Headings ....................................................................................................37
13.3 Counterparts...............................................................................................37
13.4 Governing Law ..........................................................................................37
13.5 Successors..................................................................................................38
13.6 Modification; Assignment .........................................................................38
13.7 Notice ........................................................................................................38
13.8 Manner of Payment....................................................................................39
13.9 Costs, Fees and Expenses ..........................................................................39
13.10 Waiver ........................................................................................................39
13.11 Severability ................................................................................................39
13.12 Term of Agreement....................................................................................39
13.13 Survival of Covenants, Etc. .......................................................................39
SCHEDULES
2.1 Certain Liabilities Assumed.......................................................................42
2.1(a) Excluded Deposit Liability Accounts........................................................43
3.1 Certain Assets Purchased...........................................................................44
3.2 Purchase Price of Assets or Assets ............................................................45
3.5(l) Excluded Private Label Asset-Backed Securities......................................47
EXHIBITS
3.2(c) Valuation of Certain Qualified Financial Contracts ..................................51
4.13 Interim Asset Servicing Arrangement .......................................................53