Operating Synergies; Conformance to Reserve Policies, Etc. Between the date hereof and the Effective Time of the Holding Company Merger, the parties will work with one another to achieve appropriate operating efficiencies following the Closing Date. Subject to the Horizon Banks' approval, which will not be unreasonably withheld, City Holding's notification to the Horizon Banks' customers and City Holding's direct contact with customers regarding the Bank Mergers will commence following receipt of Federal Reserve Board and OCC approval but not earlier than 60 days prior to the Closing Date. At the request of City Holding and upon receipt by Horizon and the Horizon Banks of written confirmation from City Holding and City National that there are no conditions to the obligations of City Holding and City National under this Agreement set forth in Article V which they believe will not be fulfilled so as to permit them to consummate the Transaction and the other transactions contemplated hereby, not more than three days before the Effective Time of the Holding Company Merger Horizon and the Horizon Banks shall establish such additional accruals, reserves and charge-offs, through appropriate entries in its accounting books and records, provided such adjustments are in accordance with GAAP and applicable law and regulation as may be necessary to conform Horizon's and the Horizon Banks' accounting and credit loss reserve practices and methods to those of City Holding and City National (as such practices and methods are to be applied from and after the Effective Time of the Holding Company Merger). Any such accruals, reserves and charge-offs shall not be deemed to cause any representation and warranty of Horizon and the Horizon Banks to be untrue or inaccurate as of the Effective Time of the Holding Company Merger.
Operating Synergies; Conformance to Reserve Policies, Etc. Between the date hereof and the Effective Time of the Merger, Black Diamond's management will work with FNB to achieve appropriate operating efficiencies following the Closing Date. At the request of FNB and upon receipt by Black Diamond of written confirmation from FNB that there are no
Operating Synergies; Conformance to Reserve Policies, Etc. Between the date hereof and the Effective Time of the Holding Company Merger, American National's and Savings Bank's management will work with Crestar Bank to achieve appropriate operating efficiencies following the Closing Date. Subject to Savings Bank's approval, which will not be unreasonably withheld, Crestar notification to Savings Bank's customers and Crestar's direct contact with customers will commence following receipt of Federal Reserve Board approval but not earlier than 60 days prior to the Closing Date. At the request of Crestar Bank and upon receipt by American National and Savings Bank of written confirmation from Crestar and Crestar Bank that there are no conditions to the obligations of Crestar and Crestar Bank under this Agreement set forth in Article V which will not be fulfilled so as to permit them to consummate the Holding Company Merger and the other transactions contemplated hereby, not more than three days before the Effective Time of the Holding Company Merger American National shall establish such additional accruals, reserves and charge- offs, through appropriate entries in its accounting books and records (provided such adjustments are in accordance with GAAP and applicable law and regulation) as may be necessary to conform American National's accounting and credit loss reserve practices and methods to those of Crestar Bank (as such practices and methods are to be applied from and after the Effective Time of the Holding Company Merger) and to Crestar Bank's plans with respect to the conduct of the business of American National and Savings Bank following the Transaction, as well as the costs and expenses relating to the consummation by American National and Savings Bank of the Transaction and the other transactions contemplated hereby. Any such accruals, reserves and charge-offs shall not be deemed to cause any representation and warranty of American National and Savings Bank to be untrue or inaccurate as of the Effective Time of the Holding Company Merger. At the same time that the accruals referred to in the two immediately preceding sentences are established, American National and Savings Bank will convey any OREO properties that are titled in its name to an American National subsidiary to be identified by Crestar. Such subsidiary will be merged into a Crestar or Crestar Bank subsidiary at the time of the Bank Merger.
Operating Synergies; Conformance to Reserve Policies, Etc. (a) Between the date hereof and the Effective Time of the Merger, Falcon management will work with First Maryland to
