Common use of Derivatives Contracts; Structured Notes; Etc Clause in Contracts

Derivatives Contracts; Structured Notes; Etc. RedFed is not a party to and has not agreed to enter into, after the date hereof, any exchange traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or other contract of the types commonly referred to as derivative contracts, including various combinations thereof (each a "Derivatives Contract") and RedFed does not own securities that are referred to generically as "structured notes," "high risk mortgage derivatives" (as defined for federal banking regulatory purposes), "capped floating rate notes" or "capped floating rate mortgage derivatives", except for those Derivatives Contracts and such other instruments listed (as of the date hereof) in the RedFed Disclosure Letter or disclosed in its Reports filed on or prior to the date hereof. All Derivative Contracts, whether entered into for RedFed's own account, or for the account of one or more of its subsidiaries or their customers, were entered into (i) in accordance with applicable laws, rules and regulations and (ii) with counterparties believed to be financially responsible at the time. Neither RedFed nor its subsidiaries, nor to its knowledge any other party thereto, is in breach of any of its obligations under any Derivative Contract. (z)

Derivatives Contracts; Structured Notes; Etc. RedFed CENFED is not a party to and has not agreed to enter into, after the date hereof, any exchange traded or over-the-counter equity, interest rate, foreign exchange or other swap, forward, future, option, cap, floor or collar or other contract of the types commonly referred to as derivative contracts, including various combinations thereof (each a "Derivatives Contract") and RedFed CENFED does not own securities that are referred to generically as "structured notes," "high risk mortgage derivatives" (as defined for federal banking regulatory purposes), "capped floating rate notes" or "capped floating rate mortgage derivatives", except for those Derivatives Contracts and such other instruments listed (as of the date hereof) in the RedFed CENFED Disclosure Letter or disclosed in its Reports filed on or prior to the date hereof. All Derivative Contracts, whether entered into for RedFedCENFED's own account, or for the account of one or more of its subsidiaries or their customers, were entered into (i) in accordance with applicable laws, rules and regulations and (ii) with counterparties believed to be financially responsible at the time. Neither RedFed CENFED nor its subsidiaries, nor to its knowledge any other party thereto, is in breach of any of its obligations under any Derivative Contract. (z).