SEC Contract Filing

Filing Date: 2016-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.39
<SEQUENCE>13
<FILENAME>a20151231-ex103910xk.htm
<DESCRIPTION>EXHIBIT 10.39
<TEXT>
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<a name="sA95098B9519055F9C087C2EC284B37ED"></a><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">PURCHASE AND ASSUMPTION AGREEMENT</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">THIS PURCHASE AND ASSUMPTION AGREEMENT</font><font style="font-family:inherit;font-size:11pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), dated as of December 17, 2015 is between </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">FIRST FREEDOM BANK</font><font style="font-family:inherit;font-size:11pt;">, a Tennessee-chartered commercial bank (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Purchaser</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">ATLANTIC CAPITAL BANK, N.A.</font><font style="font-family:inherit;font-size:11pt;">, a national bank (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Seller</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:11pt;">,</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:11pt;">Purchaser desires to assume and purchase from Seller, and Seller desires to assign and sell to Purchaser, certain of Seller&#8217;s liabilities and assets, currently held and allocated by Seller to its branch offices located at (i) 307 East Hull Avenue, Gainesboro, Jackson County, Tennessee 38562, (ii) 376 West Jackson Street, Cookeville, Putnam County, Tennessee 38501, and (iii) 614 West Main Street, Algood, Putnam County, Tennessee 38506 (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Branches</font><font style="font-family:inherit;font-size:11pt;">&#8221; and individually, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Branch</font><font style="font-family:inherit;font-size:11pt;">&#8221;);</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:11pt;">,</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:11pt;">in consideration of their mutual promises and obligations and intending to be legally bound hereby, the parties agree as follows:</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;text-indent:0px;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:0px;">ARTICLE 1</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">CERTAIN DEFINITIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Certain Definitions</font><font style="font-family:inherit;font-size:11pt;">. As used in this Agreement, the terms below shall have the meanings set forth.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Accrued Expenses</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Accrued Interest</font><font style="font-family:inherit;font-size:11pt;">&#8221; means with respect to (i)&#160;Deposits at any date means interest which is accrued on such Deposits to such date and not yet posted to such deposit accounts or paid to the depositor and (ii)&#160;Purchased Loans at