Common use of Adequacy of Allowances for Losses Clause in Contracts

Adequacy of Allowances for Losses. Each of the allowances for losses on Loans and other real estate included on the balance sheet as of September 30, 2018 included in the Kinderhook Financial Statements is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of Kinderhook, there are no facts or circumstances that are likely to require in accordance with applicable regulatory guidelines or GAAP a future material increase in any such provisions for losses or a material decrease in any of the allowances therefor (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements). Each of the allowances for losses on Loans and other real estate reflected on the books of Kinderhook and its Subsidiaries at all times from and after the date of the balance sheet included in the Kinderhook Financial Statements as of September 30, 2018 is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of Kinderhook, there are no facts or circumstances (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements) that are likely to require, in accordance with applicable regulatory guidelines or GAAP, a future material increase in any of such provisions for losses or a material decrease in any of the allowances therefor.

Adequacy of Allowances for Losses. Each of the allowances for losses on Loans and other real estate included on the Holdings Latest Balance Sheet (along with any subsequent balance sheet as of September 30, 2018 included in the Kinderhook Financial Statements required to be delivered hereunder) is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookHoldings, there are no facts or circumstances that are likely to require in accordance with applicable regulatory guidelines or GAAP a future material increase in any such provisions for losses or a material decrease in any of the allowances therefor (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements). Each of the allowances for losses on Loans and other real estate reflected on the books of Kinderhook Holdings and its Subsidiaries at all times from and after the date of the balance sheet included in the Kinderhook Financial Statements as of September 30, 2018 Holdings Latest Balance Sheet is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookHoldings, there are no facts or circumstances (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements) that are likely to require, in accordance with applicable regulatory guidelines or GAAP, a future material increase in any of such provisions for losses or a material decrease in any of the allowances therefor.

Adequacy of Allowances for Losses. Each of the allowances for losses on Loans and other real estate included on the balance sheet as of September June 30, 2018 2021 included in the Kinderhook Elmira Financial Statements is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookElmira, there are no facts or circumstances that are likely to require in accordance with applicable regulatory guidelines or GAAP a future material increase in any such provisions for losses or a material decrease in any of the allowances therefor (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements). Each of the allowances for losses on Loans and other real estate reflected on the books of Kinderhook Elmira and its Subsidiaries at all times from and after the date of the balance sheet included in the Kinderhook Elmira Financial Statements as of September June 30, 2018 2021 is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookElmira, there are no facts or circumstances (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements) that are likely to require, in accordance with applicable regulatory guidelines or GAAP, a future material increase in any of such provisions for losses or a material decrease in any of the allowances therefor.

Adequacy of Allowances for Losses. Each of the allowances for losses on Loans and other real estate included on the balance sheet as of September June 30, 2018 2019 included in the Kinderhook Steuben Financial Statements is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookSteuben, there are no facts or circumstances that are likely to require in accordance with applicable regulatory guidelines or GAAP a future material increase in any such provisions for losses or a material decrease in any of the allowances therefor (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements). Each of the allowances for losses on Loans and other real estate reflected on the books of Kinderhook Steuben and its Subsidiaries at all times from and after the date of the balance sheet as of June 30, 2019 included in the Kinderhook Steuben Financial Statements as of September 30, 2018 is adequate in accordance with applicable regulatory guidelines and GAAP in all material respects, and, to the Knowledge of KinderhookSteuben, there are no facts or circumstances (specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited to CECL requirements) that are likely to require, in accordance with applicable regulatory guidelines or GAAP, a future material increase in any of such provisions for losses or a material decrease in any of the allowances therefor.