Common use of Commitments and Contracts Clause in Contracts

Commitments and Contracts. (a) Except as set forth in EVBS Schedule 4.16, neither RHB nor any of the EVBS Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS or any of the EVBS Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS or any of the EVBS Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS or any of the EVBS Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Schedule 4.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS or any of the EVBS Subsidiaries with the SEC, the Bureau of Financial Institutions of the Virginia State Corporation Commission or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Schedule 4.16(b), there is not, under any such agreement, lease or contract to which EVBS or any of the Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16, neither RHB FCB nor any of the EVBS its Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS FCB or any of the EVBS its Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS FCB or any of the EVBS its Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS FCB or any of the EVBS its Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS FCB or any of the EVBS its Subsidiaries with the SEC, the FRB, the Bureau of Financial Institutions of the Virginia State Corporation Commission or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Disclosure Schedule 4.16(b3.16(b), there is not, under any such agreement, lease or contract to which EVBS FCB or any of the its Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16, neither RHB GFH nor any of the EVBS its Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS GFH or any of the EVBS its Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS GFH or any of the EVBS its Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS GFH or any of the EVBS its Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authoritiesau thorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS GFH or any of the EVBS its Subsidiaries with the SEC, the Bureau FRB, the North Carolina Commissioner of Financial Institutions of the Virginia State Corporation Commission Banks or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Disclosure Schedule 4.16(b3.16(b), there is not, under any such agreement, lease or contract to which EVBS GFH or any of the its Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide pro vide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS HRB Schedule 4.16, neither RHB nor any of the EVBS HRB Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS HRB or any of the EVBS HRB Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS HRB or any of the EVBS HRB Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS HRB or any of the EVBS HRB Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory regul atory authorities); (iv) Any lease (other than real estate leases described on EVBS HRB Schedule 4.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS HRB or any of the EVBS HRB Subsidiaries with the SEC, the Bureau FRB, the North Carolina Commissioner of Financial Institutions of the Virginia State Corporation Commission Banks or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS HRB Schedule 4.16(b), there is not, under any such agreement, lease or contract to which EVBS HRB or any of the Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the th e basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16, neither RHB GFH nor any of the EVBS its Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS GFH or any of the EVBS its Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS GFH or any of the EVBS its Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS GFH or any of the EVBS its Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS GFH or any of the EVBS its Subsidiaries with the SEC, the Bureau FRB, the North Carolina Commissioner of Financial Institutions of the Virginia State Corporation Commission Banks or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Disclosure Schedule 4.16(b3.16(b), there is not, under any such agreement, lease or contract to which EVBS GFH or any of the its Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16(a), neither RHB nor any none of the EVBS Subsidiaries CENIT, CENIT Bank or their respective subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, director or employee, including in any such person’s 's capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS CENIT or any of the EVBS SubsidiariesCENIT Bank); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS CENIT or any of the EVBS Subsidiaries CENIT Bank to compete in any line of business or which involve any restriction of the geographical area in which EVBS CENIT or any of the EVBS Subsidiaries CENIT Bank may carry on their its businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 40,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS or any of the EVBS Subsidiaries CENIT with the SEC, the Bureau of Financial Institutions of the Virginia State Corporation Commission OTS or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Schedule 4.16(bDisclosure Schedules 3.5 or 3.16(b), to the knowledge of CENIT, CENIT Bank or any CENIT subsidiary, there is not, under any such material agreement, lease or contract (including but not limited to the Environmental Remediation and Indemnity Agreement between CENIT Bank and D&C, LLC, dated December 21, 1998 ) to which EVBS CENIT, CENIT Bank or any of the Subsidiaries their respective subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Schedule 4.163.16, neither RHB nor any of the EVBS Subsidiaries Advantage is not a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, director or employee, including in any such person’s 's capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS or any of the EVBS SubsidiariesAdvantage); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS or any of the EVBS Subsidiaries Advantage to compete in any line of business or which involve any restriction of the geographical area in which EVBS or any of the EVBS Subsidiaries Advantage may carry on their its businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS or any of the EVBS Subsidiaries Advantage with the SEC, the Bureau New Jersey Department of Financial Institutions of the Virginia State Corporation Commission Banking and Insurance or the FDIC Federal Deposit Insurance Corporation (the "FDIC") and which has not been so disclosed. (b) Except as set forth in EVBS Schedule 4.16(b), there There is not, under any such agreement, lease or contract to which EVBS or any of the Subsidiaries Advantage is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance. (c) Except as set forth on Schedule 3.16(c), (i) neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will result in termination of any of the material service contracts (including leases, agreements or licenses) to which Advantage is a party ("Service Contracts"), or modification or acceleration of any of the terms of such Service Contracts; and (ii) no consents are required to be obtained and no notices are required to be given in order for the Service Contracts to remain effective, without any modification or acceleration of any of the terms thereof, following the consummation of the transactions contemplated by this Agreement. (d) Schedule 3.16(d) lists the deadlines for extensions or terminations of any material leases, agreements or licenses (including specifically data processing agreements) to which Advantage is a party.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16, neither RHB SFC nor any of the EVBS its Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS SFC or any of the EVBS its Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS SFC or any of the EVBS its Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS SFC or any of the EVBS its Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 25,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS SFC or any of the EVBS its Subsidiaries with the SEC, the FRB, the Bureau of Financial Institutions of the Virginia State Corporation Commission of the Commonwealth of Virginia or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Disclosure Schedule 4.16(b3.16(b), there is not, under any such agreement, lease or contract to which EVBS SFC or any of the its Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Schedule 4.16DISCLOSURE SCHEDULE 3.16(A), neither RHB nor any of the EVBS Subsidiaries Bank is not a party or subject to any of the following (whether written or oral, express or implied): (i) Any any employment contract or understanding (including any agreements, plans, understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s 's capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS or any of the EVBS SubsidiariesBank); (ii) Any any labor contract or agreement with any labor union; (iii) Any any contract covenants which limit the ability of EVBS or any of the EVBS Subsidiaries Bank to compete in any line of business or which involve any restriction of the geographical area in which EVBS or any of the EVBS Subsidiaries Bank may carry on their businesses its business (other than as may be required by law or applicable regulatory authorities); (iv) Any any lease (other than real estate leases described on EVBS Schedule 4.14(bDISCLOSURE SCHEDULE 3.14(B)) or other agreements or contracts with annual payments aggregating $50,000 5,000 or more; or (v) Any any other contract or agreement which would be required to be disclosed in reports filed by EVBS or any of the EVBS Subsidiaries Bank with the SECFRB, the Bureau of Financial Institutions of the Virginia State Corporation Commission FDIC or the FDIC Department and which has not been so disclosed. (b) Except as set forth in EVBS Schedule 4.16(bDISCLOSURE SCHEDULE 3.16(B), there is not, under any such agreement, lease or contract to which EVBS or any of the Subsidiaries Bank is a party, any existing default or event of default, or any event which with notice or lapse of time, time or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance. (c) DISCLOSURE SCHEDULE 3.16(C) lists the deadlines for extensions or terminations of any material leases, agreements or licenses (including specifically real property leases and data processing agreements) to which the Bank is a party.

Commitments and Contracts. (a) Except as set forth in EVBS HRB Schedule 4.16, neither RHB nor any of the EVBS HRB Subsidiaries is a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS HRB or any of the EVBS HRB Subsidiaries); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS HRB or any of the EVBS HRB Subsidiaries to compete in any line of business or which involve any restriction of the geographical area in which EVBS HRB or any of the EVBS HRB Subsidiaries may carry on their businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS HRB Schedule 4.14(b)) or other agreements or contracts with annual payments aggregating $50,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS HRB or any of the EVBS HRB Subsidiaries with the SEC, the Bureau FRB, the North Carolina Commissioner of Financial Institutions of the Virginia State Corporation Commission Banks or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS HRB Schedule 4.16(b), there is not, under any such agreement, lease or contract to which EVBS HRB or any of the Subsidiaries is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.

Commitments and Contracts. (a) Except as set forth in EVBS Disclosure Schedule 4.163.16, neither RHB nor any of the EVBS Subsidiaries Albemarle First is not a party or subject to any of the following (whether written or oral, express or implied): (i) Any employment contract or understanding (including any understandings or obligations with respect to severance or termination pay liabilities or fringe benefits) with any present or former officer, director, employee, including in any such person’s 's capacity as a consultant (other than those which either are terminable at will without any further amount being payable thereunder or as a result of such termination by EVBS or any of the EVBS SubsidiariesAlbemarle First); (ii) Any labor contract or agreement with any labor union; (iii) Any contract covenants which limit the ability of EVBS or any of the EVBS Subsidiaries Albemarle First to compete in any line of business or which involve any restriction of the geographical area in which EVBS or any of the EVBS Subsidiaries Albemarle First may carry on their its businesses (other than as may be required by law or applicable regulatory authorities); (iv) Any lease (other than real estate leases described on EVBS Disclosure Schedule 4.14(b3.14(b)) or other agreements or contracts with annual payments aggregating $50,000 10,000 or more; or (v) Any other contract or agreement which would be required to be disclosed in reports filed by EVBS or any of the EVBS Subsidiaries Albemarle First with the SEC, the FRB, the Bureau of Financial Institutions of the Virginia State Corporation Commission of the Commonwealth of Virginia or the FDIC and which has not been so disclosed. (b) Except as set forth in EVBS Disclosure Schedule 4.16(b3.16(b), there is not, under any such agreement, lease or contract to which EVBS or any of the Subsidiaries Albemarle First is a party, any existing default or event of default, or any event which with notice or lapse of time, or both, would constitute a default or force majeure, or provide the basis for any other claim of excusable delay or non-performance.