Common use of Community Reinvestment Act Compliance Clause in Contracts

Community Reinvestment Act Compliance. Target Bank is in material compliance with the applicable provisions of the CRA (as defined in Section 8.1) and the regulations promulgated thereunder, and Target Bank currently has a CRA rating of satisfactory or better. To the knowledge of Target, there is no fact or circumstance or set of facts or circumstances that would cause Target Bank to fail to comply with such provisions or cause the CRA rating of Target Bank to fall below satisfactory.

Appears in 1 contract

Samples: Merger Agreement (Peoples Bancshares Inc)

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Community Reinvestment Act Compliance. Target Bank is in ------------------------------------- material compliance with the applicable provisions of the CRA (as defined in Section SECTION 8.1) and the regulations promulgated thereunder, and Target Bank currently has a CRA rating of satisfactory or better. To the knowledge of Target, there is no fact or circumstance or set of facts or circumstances that would cause Target Bank to fail to comply with such provisions or cause the CRA rating of Target Bank to fall below satisfactory.

Appears in 1 contract

Samples: Merger Agreement (Firstfed America Bancorp Inc)

Community Reinvestment Act Compliance. Target Bank is in ---------------------------------------- material compliance with the applicable provisions of the CRA Community Reinvestment Act (as defined in Section 8.1"CRA") and the regulations promulgated thereunder, and Target Bank currently has a CRA rating of satisfactory or better. To the knowledge of Target, there is no fact or circumstance or set of facts or circumstances that would cause Target Bank to fail to continue to comply with such provisions or cause the CRA rating of Target Bank to fall below satisfactory.

Appears in 1 contract

Samples: Merger Agreement (Northeast Pennsylvania Financial Corp)

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Community Reinvestment Act Compliance. Target Bank is in material compliance with the applicable provisions of the CRA Community Reinvestment Act (as defined in Section 8.1"CRA") and the regulations promulgated thereunder, and Target Bank currently has a CRA rating of satisfactory or better. To the knowledge of Target, there is no fact or circumstance or set of facts or circumstances that would cause Target Bank to fail to continue to comply with such provisions or cause the CRA rating of Target Bank to fall below satisfactory.

Appears in 1 contract

Samples: Merger Agreement (Security of Pennsylvania Financial Corp)

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