Common use of Loans; Allowance for Loan Losses Clause in Contracts

Loans; Allowance for Loan Losses. (a) All of the loans on the books of BankFirst and the BankFirst Subsidiaries are valid and properly documented and were made in the ordinary course of business, and the security therefor, if any, is valid and properly perfected. Neither the terms of such loans, nor any of the loan documentation, nor the manner in which such loans have been administered and serviced, nor BankFirst's procedures and practices of approving or rejecting loan applications, violates any federal, state or local law, rule, regulation or ordinance applicable thereto, including, without limitation, the TILA, Regulations O and Z of the Federal Reserve Board, the CRA, the Equal Credit Opportunity Act, as amended, and state laws, rules and regulations relating to consumer protection, installment sales and usury. (b) The allowances for loan losses reflected on the consolidated balance sheets included in the Financial Statements of BankFirst are, in the reasonable judgment of BankFirst's management, adequate as of their respective dates under the requirements of GAAP and applicable regulatory requirements and guidelines.

Loans; Allowance for Loan Losses. (a) All of the loans on the books of BankFirst First Banking and the BankFirst First Banking Subsidiaries are valid and properly documented and documented, were made in the ordinary course of business, and the security therefor, if any, is valid and properly perfected. Neither the terms of such loans, nor any of the loan documentation, nor the manner in which such loans have been administered and serviced, nor BankFirstFirst Banking's procedures and practices of approving or rejecting loan applications, violates any federal, state or local law, rule, regulation or ordinance applicable thereto, including, without limitation, the TILA, Regulations O and Z of the Federal Reserve Board, the CRA, the Equal Credit Opportunity Act, as amended, and state laws, rules and regulations relating to consumer protection, installment sales and usury. (b) The allowances for loan losses reflected on the consolidated balance sheets included in the Financial Statements of BankFirst are, in the reasonable judgment of BankFirst's management, First Banking are adequate as of their respective dates under the requirements of GAAP and applicable regulatory requirements and guidelines.

Loans; Allowance for Loan Losses. (a) All of the loans on the books of BankFirst First Liberty and the BankFirst First Liberty Subsidiaries are valid and properly documented and were made in the ordinary course of business, and the security therefor, if any, is valid and properly perfected. Neither the terms of such loans, nor any of the loan documentation, nor the manner in which such loans have been administered and serviced, nor BankFirstFirst Liberty's procedures and practices of approving or rejecting loan applications, violates any federal, state or local law, rule, regulation or ordinance applicable thereto, including, without limitation, the TILA, Regulations O and Z of the Federal Reserve Board, the CRA, the Equal Credit Opportunity Act, as amended, and state laws, rules and regulations relating to consumer protection, installment sales and usury. (b) The allowances for loan losses reflected on the consolidated balance sheets included in the Financial Statements of BankFirst are, in the reasonable judgment of BankFirst's management, First Liberty are adequate as of their respective dates under the requirements of GAAP and applicable regulatory requirements and guidelines.

Loans; Allowance for Loan Losses. (a) All of the loans on the books of BankFirst FirstSpartan and the BankFirst FirstSpartan Subsidiaries are valid and properly documented and were made in the ordinary course of business, and the security therefor, if any, is valid and properly perfected. Neither the terms of such loans, nor any of the loan documentation, nor the manner in which such loans have been administered and serviced, nor BankFirstFirstSpartan's procedures and practices of approving or rejecting loan applications, violates any federal, state or local law, rule, regulation or ordinance applicable thereto, including, without limitation, the TILA, Regulations O and Z of the Federal Reserve Board, the CRA, the Equal Credit Opportunity Act, as amended, and state laws, rules and regulations relating to consumer protection, installment sales and usury. (b) The allowances for loan losses reflected on the consolidated balance sheets included in the Financial Statements of BankFirst FirstSpartan are, in the reasonable reasonable, good faith judgment of BankFirstFirstSpartan's management, adequate as of their respective dates under the requirements of GAAP and applicable regulatory requirements and guidelines.

Loans; Allowance for Loan Losses. (a) All of the loans on the books of BankFirst Company and the BankFirst Subsidiaries Bank are valid evidenced by notes, agreements and properly documented other evidences of indebtedness as included in the applicable loan file and were made in the ordinary course of business, and the security therefor, if any, is valid and properly perfected. Neither the terms of such loans, nor any of the loan documentation, nor the manner in which such loans have been administered and serviced, nor BankFirstCompany's procedures and practices of approving or rejecting loan applications, violates any federal, state or local law, rule, regulation or ordinance applicable thereto, including, without limitation, the TILA, Regulations O and Z of the Federal Reserve Board, the CRA, the Equal Credit Opportunity Act, as amended, and state laws, rules and regulations relating to consumer protection, installment sales and usury. (b) The allowances for loan losses reflected on the consolidated balance sheets included in the Financial Statements of BankFirst are, in the reasonable judgment of BankFirst's management, Company are adequate as of their respective dates under the requirements of GAAP and applicable regulatory requirements and guidelines.