Common use of Insured Depository Institution Representations Clause in Contracts

Insured Depository Institution Representations. If Seller is an Insured Depository Institution, Seller makes the following additional representations and warranties: (i) the Program Documents do not violate any statutory or regulatory requirements applicable to Seller; (ii) the Program Documents have been (1) executed contemporaneously with the definitive agreement reached by Buyer and Seller, (2) Seller’s Board of Directors has authorized Seller’s officers to negotiate and enter into the Agreement, which authorization shall be reflected in the minutes of said board, and (3) entered into the official records of Seller, a copy of which approvals, certified by a vice president or higher officer of Seller, has been provided to Buyer; (iii) the aggregate amount of the Purchase Price of the Transactions, after giving effect to any Transactions being made on the Purchase Date hereof, between Buyer and Seller does not exceed any restrictions or limitations imposed by the board of directors or regulatory requirements of Seller and (iv) as of any date of determination, Seller is Well Capitalized.

Insured Depository Institution Representations. If Seller is an Insured Depository Institution, Seller makes the following additional representations and warranties: (i) the Program Documents do not violate any statutory or regulatory requirements applicable to Seller; (ii) the Program Documents have been (1) executed contemporaneously with the definitive agreement reached by Buyer and Seller, (2) Seller’s Board of Directors has managing members have authorized Seller’s officers to negotiate and enter into the this Agreement, which authorization shall be reflected in the minutes of said board, and (3) entered into the official records of Seller, a copy of which approvals, certified by a vice president or higher officer of Seller, has been provided to Buyer; (iii) the aggregate amount of the Purchase Price of the Transactions, after giving effect to any Transactions being made on the Purchase Date hereof, between Buyer and Seller does not exceed any restrictions or limitations imposed by the board of directors managing members or regulatory requirements of Seller and (iv) as of any date of determination, Seller is Well Capitalized.

Insured Depository Institution Representations. If Seller Borrower is an ---------------------------------------------- Insured Depository InstitutionInstitution and accordingly, Seller Borrower makes the following additional representations and warranties: : (ia) the Program Documents do This Agreement between Lender and Borrower does not violate any statutory or regulatory requirements applicable to Seller; the Borrower; (iib) the Program Documents have This Agreement has been (1) executed contemporaneously with the definitive agreement reached by Buyer Lender and SellerBorrower, (2) Seller’s Board approved by a specific resolution by the Borrower's board of Directors has authorized Seller’s officers to negotiate and enter into the Agreementdirectors, which authorization approval shall be reflected in the minutes of said board, and (3) entered into the official records of Sellerthe Borrower, a copy of which approvals, certified by a vice president or higher officer of SellerBorrower, has been provided to Buyer; Lender; (iiic) the The aggregate amount of the Purchase Price Loans outstanding as of the Transactionsdate hereof, after giving effect to any Transactions Loans being made on the Purchase Date date hereof, between Buyer Lender and Seller Borrower does not exceed any restrictions or limitations imposed by the board of directors or regulatory requirements of Seller and Borrower. (ivd) as of any date of determination, Seller Borrower is Well Capitalized or Adequately Capitalized.