Investment Portfolio. All investment securities held by it are carried on its financial books and records in accordance with GAAP. Except for pledges to secure public and trust deposits, none of its investment securities are subject to any restriction, whether contractual or statutory, which materially impairs its ability to freely dispose of such investment securities at any time, other than those restrictions imposed on securities held to maturity under GAAP.
Appears in 4 contracts
Samples: Merger Agreement (Cohoes Bancorp Inc), Merger Agreement (Cohoes Bancorp Inc), Merger Agreement (Hudson River Bancorp Inc)
Investment Portfolio. All investment securities held by it are carried on its financial books and records in accordance with GAAP. Except for pledges to secure public and trust deposits, none None of its investment securities are subject to any restriction, whether contractual or statutory, which materially impairs its ability to freely dispose of such investment securities at any time, other than those restrictions imposed on securities held to maturity under GAAP.
Appears in 1 contract
