Investment Securities. Each of the Company and its Subsidiaries has good title to all securities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities are pledged in the ordinary course of business to secure obligations of the Company or its Subsidiaries. Such securities are valued on the books of the Company in accordance with GAAP. The Company and its Subsidiaries and their respective businesses employ investment, securities, risk management and other policies, practices and procedures which the Company believes are prudent and reasonable in the context of such businesses.
Appears in 10 contracts
Samples: Merger Agreement (CNB Financial Corp/Pa), Merger Agreement (First Commonwealth Financial Corp /Pa/), Merger Agreement (DCB Financial Corp)
Investment Securities. Each of the Company and its Subsidiaries has good title to all securities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities are pledged in the ordinary course of business to secure obligations of the Company or its Subsidiaries. Such securities are valued on the books of the Company in accordance with GAAP. The Company and its Subsidiaries and their respective businesses employ investment, securities, risk management and other policies, practices and procedures which the Company believes are prudent and reasonable in the context of such businesses. The Company and its Subsidiaries are permitted to own any investment securities owned by it in accordance with applicable law.
Appears in 3 contracts
Samples: Merger Agreement (Camden National Corp), Merger Agreement (Brookline Bancorp Inc), Merger Agreement (PCSB Financial Corp)
Investment Securities. Each of the Company Buyer and its Subsidiaries has good title to all securities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities are pledged in the ordinary course of business to secure obligations of the Company Buyer or its Subsidiaries. Such securities are valued on the books of the Company Buyer in accordance with GAAP. The Company Buyer and its Subsidiaries and their respective businesses employ investment, securities, risk management and other policies, practices and procedures which the Company Buyer believes are prudent and reasonable in the context of such businesses.
Appears in 3 contracts
Samples: Merger Agreement (New Hampshire Thrift Bancshares Inc), Merger Agreement (NBT Bancorp Inc), Merger Agreement (Alliance Financial Corp /Ny/)
Investment Securities. Each of the Company and its Subsidiaries the Company Bank has good title to all securities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities are pledged in the ordinary course of business to secure obligations of the Company or its Subsidiariesthe Company Bank. Such securities are valued on the books of the Company in accordance with GAAP. The Company and its Subsidiaries the Company Bank and their respective businesses employ investment, securities, risk management and other policies, practices and procedures which the Company believes are prudent and reasonable in the context of such businesses.
Appears in 1 contract
Samples: Merger Agreement (New Hampshire Thrift Bancshares Inc)
Investment Securities. Each of the Company Bank and its Subsidiaries has good title to all securities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities are pledged in the ordinary course of business to secure obligations of the Company Bank or its Subsidiaries. Such securities are valued on the books of the Company Bank in accordance with GAAP. The Company Bank and its Subsidiaries and their respective businesses employ investment, securities, risk management and other policies, practices and procedures which the Company Bank believes are prudent and reasonable in the context of such businesses.
Appears in 1 contract
Samples: Stock Purchase Agreement (First Bancshares Inc /MS/)
Investment Securities. (a) Each of the Company and its the Company Subsidiaries has good and marketable title to all securities owned held by it (except those securities sold under repurchase agreements or held in any fiduciary or agency capacity), ) free and clear of any LiensLien, except to the extent such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of the Company or its Subsidiaries. Such securities are valued on the books of the any Company in accordance with GAAP. Subsidiary.
(b) The Company and its the Company Subsidiaries and their respective businesses employ investment, securities, securities risk management and other policies, practices and procedures which the Company believes are prudent and reasonable in the context of such businesses.
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