Common use of Investment Securities; Borrowings Clause in Contracts

Investment Securities; Borrowings. (i) Except for investments in FHLB Stock and pledges to secure FHLB borrowings and reverse repurchase agreements entered into in arms-length transactions pursuant to normal commercial terms and conditions and entered into in the ordinary course of business and restrictions that exist for securities to be classified as "held to maturity," none of the investments reflected in the consolidated balance sheet of NFB included in NFB's Report on Form 10-K for the year ended December 31, 1998, and none of the investment securities held by it or any of its Subsidiaries since December 31, 1998 is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time.

Investment Securities; Borrowings. (i) Except for investments in FHLB Stock stock and pledges to secure FHLB borrowings and reverse repurchase agreements entered into in arms-arms- length transactions pursuant to normal customary commercial terms and conditions and entered into in the ordinary course of business business, and restrictions that exist for securities to be classified as "held to maturity," none of the investments reflected in the consolidated balance sheet of NFB Haven included in NFBHaven's Report on Form 10-K for the year ended December 31, 19981999, and none of the investment securities held by it or any of its Subsidiaries since December 31, 1998 1999, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time.

Investment Securities; Borrowings. (i) Except for investments in FHLB Stock stock and pledges to secure FHLB borrowings and reverse repurchase agreements entered into in armsarm's-length transactions pursuant to normal customary commercial terms and conditions and entered into in the ordinary course of business business, and restrictions that exist for securities to be classified as "held to maturity," none of the investments reflected in the consolidated balance sheet of NFB Haven included in NFBHaven's Report on Form 10-K for the year ended December 31, 19981999, and none of the investment securities held by it or any of its Subsidiaries since December 31, 1998 1999, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time.

Investment Securities; Borrowings. (i) Except for investments in FHLB Federal Home Loan Bank ("FHLB") Stock and pledges to secure FHLB borrowings and reverse repurchase agreements entered into in arms-length transactions pursuant to normal commercial terms and conditions and entered into in the ordinary course of business and restrictions that exist for securities to be classified as "held to maturity," none of the investments reflected in the consolidated balance sheet of NFB Continental included in NFBContinental's Report on Form 10-K F-2 for the year ended December 31, 19981996, and none of the investment securities held by it or any of its Subsidiaries since December 31, 1998 1996, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time.

Investment Securities; Borrowings. (i) Except for investments in FHLB Stock stock and pledges to secure FHLB borrowings and reverse repurchase agreements entered into in arms-length transactions pursuant to normal customary commercial terms and conditions and entered into in the ordinary course of business business, and restrictions that exist for securities to be classified as "held to maturity," none of the investments reflected in the consolidated balance sheet of NFB Haven included in NFBHaven's Report on Form 10-K for the year ended December 31, 19981999, and none of the investment securities held by it or any of its Subsidiaries since December 31, 1998 1999, is subject to any restriction (contractual or statutory) that would materially impair the ability of the entity holding such investment freely to dispose of such investment at any time.