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Common use of CRA Compliance Clause in Contracts

CRA Compliance. Neither Seller nor any Seller Subsidiary has received any notice of non-compliance with the applicable provisions of the Community Reinvestment Act and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)) and its and each Seller Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller or any Seller Subsidiary to receive any notice of non-compliance with such provisions of the CRA or cause the CRA rating of Seller or any Seller Subsidiary to decrease below the “satisfactory” level.

Appears in 3 contracts

Samples: Merger Agreement (BNC Bancorp), Merger Agreement (Ecb Bancorp Inc), Merger Agreement (Crescent Financial Bancshares, Inc.)

CRA Compliance. Neither Seller Buyer nor any Seller Buyer Subsidiary has received any notice of non-compliance with the applicable provisions of the Community Reinvestment Act and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)) and its and each Seller Buyer Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller Buyer knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller Buyer or any Seller Buyer Subsidiary to receive any notice of non-compliance with such provisions of the CRA or cause the CRA rating of Seller Buyer or any Seller Buyer Subsidiary to decrease below the “satisfactory” level.

Appears in 2 contracts

Samples: Merger Agreement (Ecb Bancorp Inc), Merger Agreement (Crescent Financial Bancshares, Inc.)

CRA Compliance. Neither Seller nor any Seller Subsidiary has received any notice of non-compliance with the applicable provisions of the Community Reinvestment Act CRA and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)) and its and each Seller Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller or any Seller Subsidiary to receive any notice of non-compliance with such provisions of the CRA or cause the CRA rating of Seller or any Seller Subsidiary to decrease below the “satisfactory” level.

Appears in 2 contracts

Samples: Merger Agreement (Fidelity Bancorp Inc), Merger Agreement (Wesbanco Inc)

CRA Compliance. Neither Seller nor any Seller Subsidiary has received any notice of non-compliance with the applicable provisions of the Community Reinvestment Act and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)) and its and each Seller Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller knows has no knowledge of no any fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller or any Seller Subsidiary to receive any notice of non-compliance with such provisions of the CRA or cause the CRA rating of Seller or any Seller Subsidiary to decrease below the “satisfactory” level.

Appears in 1 contract

Samples: Merger Agreement (BNC Bancorp)

CRA Compliance. Neither Seller nor any of the Seller Subsidiary Subsidiaries has received any notice of non-compliance with the applicable provisions of the Federal Community Reinvestment Act Act, as amended (“CRA”), and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)325.103) and its and each Seller Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller or any Seller Subsidiary Sub to receive any notice of non-compliance with such provisions of the CRA or cause the Seller’s CRA rating of Seller or any Seller Subsidiary to decrease below the “satisfactory” level.. 44

Appears in 1 contract

Samples: Merger Agreement (Wesbanco Inc)

CRA Compliance. Neither Seller nor any of the Seller Subsidiary Subsidiaries has received any notice of non-compliance with the applicable provisions of the Federal Community Reinvestment Act Act, as amended (“CRA”), and the regulations promulgated thereunder. As of the date hereof, Seller is “well-capitalized” (as that term is defined at 12 C.F.R. 225.2(r)325.103) and its and each Seller Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Seller knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Seller or any Seller Subsidiary Sub to receive any notice of non-compliance with such provisions of the CRA or cause the Seller’s CRA rating of Seller or any Seller Subsidiary to decrease below the “satisfactory” level.

Appears in 1 contract

Samples: Merger Agreement (Oak Hill Financial Inc)