REPRESENTATIONS AND WARRANTIES OF FLEETBOSTON. Except as disclosed in (x) the FleetBoston Reports (as defined in Section 3.12) filed prior to the date hereof or (y) the disclosure schedule (the "FleetBoston Disclosure Schedule") delivered by FleetBoston to Bank of America prior to the execution of this Agreement (which schedule sets forth, among other things, items the disclosure of which is necessary or appropriate either in response to an express disclosure requirement contained in a provision hereof or as an exception to one or more representations or warranties contained in this Article III, or to one or more of FleetBoston's covenants contained in Article V, provided, however, that, notwithstanding anything in this Agreement to the contrary, (i) no such item is required to be set forth in such schedule as an exception to a representation or warranty if its absence would not result in the related representation or warranty being deemed untrue or incorrect under the standard established by Section 9.2, and (ii) the mere inclusion of an item in such schedule as an exception to a representation or warranty shall not be deemed an admission that such item represents a material exception or material fact, event or circumstance or that such item has had or would be reasonably likely to have a Material Adverse Effect (as defined in Section 3.1) on FleetBoston), FleetBoston hereby represents and warrants to Bank of America as follows:
REPRESENTATIONS AND WARRANTIES OF FLEETBOSTON. 25 4.1 Corporate Organization.........................................................................26 4.2 Capitalization.................................................................................26 4.3 Authority; No Violation........................................................................27 4.4 Consents and Regulatory Approvals..............................................................28 4.5 Financial Statements; Reports; Books and Records...............................................29 4.6 Broker's Fees..................................................................................30 4.7 Absence of Certain Changes or Events; Undisclosed Liabilities..................................30 4.8 Agreements with Regulatory Agencies............................................................30 4.9 Legal Proceedings..............................................................................31 -ii- 4.10 Taxes and Tax Returns.........................................................................31 4.11 Employee Benefit Plans........................................................................32 4.12 Compliance with Applicable Laws...............................................................32 4.13 Certain Tax Matters...........................................................................33 4.14 Environmental Liability.......................................................................33 4.15 FleetBoston Information.......................................................................33 4.16 Disclosure Controls and Procedures............................................................34 ARTICLE V COVENANTS RELATING TO CONDUCT OF BUSINESS......................................................34 5.1 Covenants of Progress..........................................................................34 5.2 Covenants of FleetBoston.......................................................................37 ARTICLE VI ADDITIONAL AGREEMENTS..........................................................................38 6.1 Regulatory Matters.............................................................................38 6.2 No Solicitation by Progress....................................................................40 6.3 Access to Information..........................................................................41
REPRESENTATIONS AND WARRANTIES OF FLEETBOSTON. FleetBoston hereby makes the following representations and warranties to Progress as set forth in this Article IV, as of the date hereof, each of which is being relied upon by Progress as a material inducement to enter into and perform this Agreement.
REPRESENTATIONS AND WARRANTIES OF FLEETBOSTON. 4.1 Corporate Organization......................................20 4.2 Capitalization..............................................20 4.3 Authority, No Violation.....................................22 4.4
REPRESENTATIONS AND WARRANTIES OF FLEETBOSTON. Except as disclosed in the FleetBoston disclosure schedule delivered to Summit prior to the execution of this Agreement (the "FleetBoston Disclosure Schedule") FleetBoston represents and warrants to Summit as follows:
