Common use of Loan Workouts Clause in Contracts

Loan Workouts. Compromise, resolve, or otherwise “workout” any delinquent or troubled loan unless any such loan workout is done in the ordinary course of business, consistent with Company Bank’s current policies and procedures and recent past practice, and approved by Company Bank’s Workout Committee.

Appears in 2 contracts

Samples: Merger Agreement (Independent Bank Corp), Merger Agreement (Central Bancorp Inc /Ma/)

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Loan Workouts. Compromise, resolve, or otherwise “workout” any delinquent or troubled loan unless any such loan workout is done in the ordinary course of business, consistent with Company Bank’s current policies and procedures and recent past practice, and approved by Company Bank’s Workout Security Committee.

Appears in 2 contracts

Samples: Merger Agreement (Mayflower Bancorp Inc), Merger Agreement (Independent Bank Corp)

Loan Workouts. Compromise, resolve, or otherwise “workout” any delinquent or troubled loan unless any such loan workout is done in the ordinary course of business, consistent with Company Bank’s current policies and procedures and recent past practice, and approved by Company Bank’s Workout Committee.

Appears in 2 contracts

Samples: Merger Agreement (Peoples Federal Bancshares, Inc.), Merger Agreement (Independent Bank Corp)

Loan Workouts. Compromise, resolve, or otherwise “workout” any delinquent or troubled loan unless loan, other than any such loan workout is done in the ordinary course of business, consistent with Company Bank’s current policies and procedures and recent past practicepractices since December 31, and approved by Company Bank’s Workout Committee2021.

Appears in 2 contracts

Samples: Merger Agreement (Eastern Bankshares, Inc.), Merger Agreement (Cambridge Bancorp)

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Loan Workouts. Compromise, resolve, or otherwise “workout” any delinquent or troubled loan unless any such loan workout is done in the ordinary course Ordinary Course of businessBusiness, consistent with Company Bank’s current policies and procedures and recent past practice, and approved by Company the Bank’s Workout CommitteeBoard of Directors.

Appears in 1 contract

Samples: Stock Purchase Agreement (Beneficial Bancorp Inc.)

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