Common use of Adequacy of Reserves Clause in Contracts

Adequacy of Reserves. The reserves, the allowance for loan and lease losses, and the carrying value for real estate owned which are shown on the Horizon Financial Statements are, in the judgment of management of Horizon, adequate, in all material respects, under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.

Appears in 3 contracts

Samples: Merger Agreement (Horizon Bancorp Inc /In/), Merger Agreement (Wolverine Bancorp, Inc.), Merger Agreement (Horizon Bancorp /In/)

AutoNDA by SimpleDocs

Adequacy of Reserves. The reserves, the allowance for loan and lease losses, losses and the carrying value for real estate owned which are shown on the Horizon Financial Statements are, in the judgment of management of Horizon, adequate, in all material respects, under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Horizon Bancorp /In/), Merger Agreement (Horizon Bancorp /In/), Merger Agreement (Horizon Bancorp /In/)

Adequacy of Reserves. The reserves, the allowance for loan and lease losses, losses and the carrying value for real estate owned which are shown on the Horizon Financial Statements are, in the judgment of management of Horizon, adequate, in all material respects, under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.. AGREEMENT AND PLAN OF MERGER PAGE 36

Appears in 1 contract

Samples: Merger Agreement (LaPorte Bancorp, Inc.)

AutoNDA by SimpleDocs

Adequacy of Reserves. The reserves, the allowance for loan and lease losses, losses and the carrying value for real estate owned which are shown on the Horizon Financial Statements are, in the judgment of management of Horizon, adequate, adequate in all material respects, respects under the requirements of GAAP to provide for possible losses on items for which reserves were made, on loans and leases outstanding and real estate owned as of the respective dates.

Appears in 1 contract

Samples: Merger Agreement (Horizon Bancorp /In/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!