Common use of INDEPENDENT LOAN REVIEW Clause in Contracts

INDEPENDENT LOAN REVIEW. (1) Within sixty (60) days of the date of this Agreement, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly beginning in the second calendar quarter of 2008, the Bank’s loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding:

INDEPENDENT LOAN REVIEW. (1) Within sixty (60) days of the date of this Agreement, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly beginning in the second calendar quarter of 2008, the Bank’s 's loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding:

INDEPENDENT LOAN REVIEW. (1) Within sixty ninety (6090) days of the date of this Agreementdays, the Board shall establish establish, implement, and thereafter ensure Bank adherence to an effective, independent and on-going loan review system to review, at least quarterly beginning in the second calendar quarter of 2008annually, the Bank’s 's loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding:

INDEPENDENT LOAN REVIEW. (1) Within sixty thirty (6030) days of the date of this Agreementdays, the Board shall establish an effective, independent independent, and on-going loan review system program to review, at least quarterly beginning in the second calendar quarter of 2008quarterly, the Bank’s 's loan and lease portfolios portfolios, to assure the timely identification and categorization of problem credits. The system program shall provide for a written report to be filed with the Board promptly after each review and shall use employ a loan and lease grading rating system consistent with the guidelines set forth in “"Rating Credit Risk” " and “"Allowance for Loan and Lease Losses” booklets ," Booklets A-RCR and A-ALLL, respectively, of the Comptroller’s 's Handbook. Such reports shall include, at a minimum, conclusions regarding:

INDEPENDENT LOAN REVIEW. (1) Within sixty ninety (6090) days of the date of this Agreementdays, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly beginning in the second calendar quarter of 2008semi-annually, the Bank’s 's loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook. Such reports shall include, at a minimum, conclusions regarding: