Common use of Board Reconstitutions Clause in Contracts

Board Reconstitutions. The Company Board Reconstitution and the Company Bank Board Reconstitution have been duly and validly approved by the Board of Directors and the Company Bank Board and no other corporate proceedings on the part of the Company or Company Bank are necessary to approve the Company Board Reconstitution or the Company Bank Board Reconstitution.

Board Reconstitutions. The Company Board Reconstitution and the Company Bank Board Reconstitution have been duly and validly approved by the Board of Directors and the Company Bank Board and no other corporate proceedings on the part of the Company or Company Bank are necessary to approve the Company Board Reconstitution or the Company Bank Board Reconstitution. (u) Borrowings. There are no restrictions (including, without limitation, on amounts, maturities, collateral or rates of interest) on the ability of the Company or Company Bank to borrow under any federal loan program or discount window other than those generally applicable to banking organizations.