Common use of Ownership of Property; Insurance Coverage Clause in Contracts

Ownership of Property; Insurance Coverage. 4.9.1. Regal Bancorp and each Regal Bancorp Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by Regal Bancorp or each Regal Bancorp Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the Regal Bancorp Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material Liens, and except for (i) those items that secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to the FHLB, inter-bank credit facilities, or any transaction by a Regal Bancorp Subsidiary acting in a fiduciary capacity, and (ii) statutory liens for amounts not yet delinquent or that are being contested in good faith. Regal Bancorp and the Regal Bancorp Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by Regal Bancorp and its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Such existing leases and commitments to lease constitute or will constitute operating leases for both tax and financial accounting purposes and the lease expense and minimum rental commitments with respect to such leases and lease commitments are as disclosed in all material respects in the notes to the Regal Bancorp Financial Statements.

Ownership of Property; Insurance Coverage. 4.9.1. Regal Bancorp (i) FSSB and each Regal Bancorp FSSB Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by Regal Bancorp FSSB or each Regal Bancorp FSSB Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets sheet contained in the Regal Bancorp most recent FSSB Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheetssheet), subject to no material Liensencumbrances, and liens, mortgages, security interests or pledges, except for (i) those items that which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to the FHLB, inter-bank credit facilities, facilities or any transaction by a Regal Bancorp Subsidiary FSSB acting in a fiduciary capacity, and (ii) statutory liens for amounts not yet delinquent or that which are being contested in good faith. Regal Bancorp FSSB and the Regal Bancorp FSSB Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by Regal Bancorp FSSB and its the FSSB Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Such existing leases and commitments to lease constitute or will constitute operating leases for both tax and financial accounting purposes and the lease expense and minimum rental commitments with respect to such leases and lease commitments are as disclosed in all material respects in the notes to the Regal Bancorp FSSB Financial Statements.

Ownership of Property; Insurance Coverage. 4.9.1. Regal Bancorp (i) GCFC and each Regal Bancorp GCFC Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by Regal Bancorp GCFC or each Regal Bancorp any GCFC Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets sheet contained in the Regal Bancorp most recent GCFC Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheetssheet), subject to no material Liensencumbrances, and liens, mortgages, security interests or pledges, except for (i) those items that which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to the FHLB, inter-bank credit facilities, facilities or any transaction by a Regal Bancorp Subsidiary GCB or GCFC acting in a fiduciary capacity, and (ii) statutory liens for amounts not yet delinquent or that which are being contested in good faith. Regal Bancorp GCFC and the Regal Bancorp Subsidiarieseach GCFC Subsidiary, as lessee, have the right under valid and existing leases of real and personal properties used by Regal Bancorp GCFC and its Subsidiaries each GCFC Subsidiary in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Such existing leases and commitments to lease constitute or will constitute operating leases for both tax and financial accounting purposes and the lease expense and minimum rental commitments with respect to such leases and lease commitments are as disclosed in all material respects in the notes to the Regal Bancorp GCFC Financial Statements.

Ownership of Property; Insurance Coverage. 4.9.1. Regal Bancorp (i) IBT and each Regal Bancorp IBT Subsidiary has good and, as to real property, marketable title to all material assets and properties owned by Regal Bancorp IBT or each Regal Bancorp IBT Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets sheet contained in the Regal Bancorp most recent IBT Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheetssheet), subject to no material Liensencumbrances, and liens, mortgages, security interests or pledges, except for (i) those items that which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to the FHLB, inter-bank credit facilities, facilities or any transaction by a Regal Bancorp Subsidiary IBT acting in a fiduciary capacity, and (ii) statutory liens for amounts not yet delinquent or that which are being contested in good faith. Regal Bancorp IBT and the Regal Bancorp IBT Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by Regal Bancorp IBT and its the IBT Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Such existing leases and commitments to lease constitute or will constitute operating leases for both tax and financial accounting purposes and the lease expense and minimum rental commitments with respect to such leases and lease commitments are as disclosed in all material respects in the notes to the Regal Bancorp IBT Financial Statements.