Common use of Asset Improvement Clause in Contracts

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged charged-off by the Bank or classified, in whole or in part, “loss” or “doubtful” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 53. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend extend, renew, or renew restructure any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension whose loans or other extensions of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” are criticized in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.without the prior approval of a majority of the full board of directors or a designated committee thereof. The board of directors or its committee shall document in writing the reasons for the extension of credit, renewal, or restructuring, specifically certifying that:

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” or “doubtful” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 57. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank conducted by the OFR that commenced on August 25, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 52. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination commenced by the Reserve Bank on November 3, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of the examination of the Bank that commenced on April 13, 2009 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank or any affililiate of the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or any affiliate of the Bank or classified, in whole or in part, “loss” in the Report of Examination or Report of Inspection, or in any subsequent report of examinationexamination or report of inspection, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank that commenced on May 4, 2009, by the Reserve Bank (the “Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 57. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination commenced May 4, 2009 by the Reserve Bank (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank conducted by the Reserve Bank that commenced on August 18, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of the examination of the Bank conducted by the Reserve Bank that commenced on August 3, 2009 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the report of the examination of the Bank that was commenced on February 17, 2009 by the Reserve Bank (the "Report of Examination Examination") or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 57. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged charged-off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in Examination, any subsequent report of examination, or any internal or external loan review, as long as such credit remains uncollected.

Asset Improvement. 53. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of the examination of the Bank that commenced on March 2, 2009 (the “Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 57. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by [Page Break] the Bank or classified, in whole or in part, “loss” in the report of examination commenced May 4, 2009 by the Reserve Bank (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 510. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the report of examination of the Bank conducted by the Reserve Bank that commenced on October 20, 2008 ("Report of Examination Examination") or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of the examination of the Bank conducted by the Reserve Bank that commenced on April 6, 2009 (the “Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the report of examination of the Bank conducted by the Reserve Bank that commenced on March 9, 2009 (the "Report of Examination Examination") or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of the examination of the Bank that commenced on March 9, 2009 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank that was commenced on May 4, 2009 by the Reserve Bank (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 54. (a) The Bank shall not, directly or indirectly, extend extend, renew, or renew restructure any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension whose loans or other extensions of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” are criticized in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.without the prior approval of a majority of the full board of directors or a designated committee thereof. The board of directors or its committee shall document in writing the reasons for the extension of credit, renewal, or restructuring, specifically certifying that:

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination of the Bank or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 57. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination commenced January 20, 2009 by the Reserve Bank (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank that was commenced on June 1, 2009 by the Reserve Bank (the “Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination conducted by the Reserve Bank that commenced on January 26, 2009 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 51. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination commenced by the Reserve Bank on June 16, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 58. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination by the Reserve Bank that commenced on November 10, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " or "doubtful" in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” or “doubtful” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 53. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any whose extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” or “doubtful” in the report of the examination of the Bank conducted jointly by the Reserve Bank and the Commissioner that commenced on May 22, 2008 (the “Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the report of examination of the Bank conducted by the Reserve Bank that commenced on October 20, 2008 (“Report of Examination Examination”) or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 514. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 56. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the Report Reports of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

Asset Improvement. 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “"loss” " in the report of examination conducted by the Reserve Bank that commenced on October 14, 2008 ("Report of Examination Examination") or in any subsequent report of examination, as long as such credit remains uncollected.