OTHER REAL ESTATE OWNED. (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a policy to ensure that Other Real Estate Owned (“OREO”) is managed in accordance with 12 U.S.C. § 29 and 12 C.F.R. Part 34. The policy shall address:
OTHER REAL ESTATE OWNED. (b) The Borrower will not dispose of any stock or other equity interest in any of its Financial Institution Subsidiaries, whether by sale, assignment, lease or otherwise, without the prior written consent of Required Lenders; provided, however, that, if at the time thereof and immediately after giving effect thereto, on a pro forma basis, no Default or Event of Default shall exist or shall have occurred, the Borrower shall be permitted to allow Financial Institution Subsidiaries to be merged into or consolidated with any other Financial Institution Subsidiary.
OTHER REAL ESTATE OWNED. (1) Within ninety (90) days of the date of this Agreement, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written program to ensure that the Bank’s management of Other Real Estate Owned (“OREO”) is managed in accordance with 12 U.S.C. § 29 and 12 C.F.R. Part 34. At a minimum, the program shall:
OTHER REAL ESTATE OWNED. (1) Effective immediately, the Board shall take the necessary steps to ensure the Bank holds, manages and accounts for its Other Real Estate Owned (“OREO”) in accordance with GAAP, the OTS’ Examination Handbook, Section 251, “Real Estate Owned and Repossessed Assets,” December 2010, and 12 C.F.R. § 160.172, and any successor regulation or guidance, to include, at a minimum:
OTHER REAL ESTATE OWNED. (1) Within ninety (90) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to appropriate written policies and procedures governing the Bank’s administration, from acquisition by the Bank through disposition to a third party, of Other Real Estate Owned (“OREO”) so that the OREO is managed in accordance with the requirements of 12 U.S.C. § 29 and 12 C.F.R. Part 34, Subpart E. The policies and procedures shall address, among other things, the following:
OTHER REAL ESTATE OWNED. Other Real Estate Owned will be ----------------------- allocated to the Bank Party acquiring the Banking Office at which the borrowing relationship with respect to such Other Real Estate Owned is maintained.
OTHER REAL ESTATE OWNED. (b) The Borrower will not dispose of any stock or other equity interest in any of its Financial Institution Subsidiaries, whether by sale, assignment, lease or otherwise, without the prior written consent of Required Lenders (which consent shall not be unreasonably withheld); provided, however, that, if at the time thereof and immediately after giving effect thereto, on a pro forma basis, no Default or Event of Default shall exist or shall have occurred, the Borrower shall be permitted to allow Financial Institution Subsidiaries to be merged into or consolidated with any other Financial Institution Subsidiary, and in connection therewith, the Borrower shall be allowed to retire, cancel and reissue equity interests in such Financial Institution Subsidiary; provided further, however, that if The PrivateBank and Trust Company is merged into or consolidated with any other Financial Institution Subsidiary, The PrivateBank and Trust Company shall be the surviving entity and the Borrower shall not retire, cancel or reissue the equity interests of The PrivateBank and Trust Company.
OTHER REAL ESTATE OWNED. For purposes of determining the interest rate under the Note, the Non-Performing Assets Ratio shall be (1) less than or equal to one and 25/100ths percent (1.25%) prior to September 30, 2009 and (2) less than or equal to one percent (1.00%) on or after October 1, 2009.
OTHER REAL ESTATE OWNED. 20 Parties ............................................................................................................................................................ 1 Party .............................................................................................................................................................. 1
OTHER REAL ESTATE OWNED. 9. Within 60 days of this Agreement, Doral shall submit to the Reserve Bank an acceptable written plan to strengthen OREO management practices. The plan shall, at a minimum, address, consider, and include:
