Target Allowance for Possible Loan Losses. The allowance for ----------------------------------------- possible loan or credit losses (the "TARGET Allowance") shown on the consolidated balance sheets of TARGET included in the most recent TARGET Financial Statements dated prior to the date of this Agreement was, and the TARGET Allowance shown on the consolidated balance sheets of TARGET included in the TARGET Financial Statements as of dates subsequent to the execution of this Agreement will be, maintained in accordance with, and are in the amounts required by, GAAP and applicable regulatory requirements or guidelines as of the dates thereof, except where the failure of such TARGET Allowance to be so maintained is not reasonably likely to have a Material Adverse Effect on TARGET.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Abc Bancorp), Employment Agreement (Abc Bancorp)
Target Allowance for Possible Loan Losses. The allowance for ----------------------------------------- possible loan or credit losses (the "TARGET Allowance") shown on the consolidated balance sheets of TARGET included in the most recent TARGET Financial Statements dated prior to the date of this Agreement was, and the TARGET Allowance shown on the consolidated balance sheets of TARGET included in the TARGET Financial Statements as of dates subsequent to the execution of this Agreement will be, maintained in accordance with, and are in the amounts required by, by GAAP and applicable regulatory requirements or guidelines as of the dates thereof, thereof except where the failure of such TARGET Allowance to be so maintained is not reasonably likely to have a Material Adverse Effect on TARGET.
Appears in 2 contracts
Samples: Employment Agreement (Abc Bancorp), Agreement and Plan of Merger (Abc Bancorp)
Target Allowance for Possible Loan Losses. The allowance for ----------------------------------------- possible loan or credit losses (the "TARGET Allowance") shown on the consolidated balance sheets of TARGET included in the most recent TARGET Financial Statements dated prior to the date of this Agreement was, and the TARGET Allowance shown on the consolidated balance sheets of TARGET included in the financial statements of TARGET Financial Statements as of dates subsequent to the execution of this Agreement will be, maintained in accordance with, and are in the amounts required by, GAAP and applicable regulatory requirements or guidelines as of the dates thereof, except where the failure of such TARGET Allowance to be so maintained is not reasonably likely to have a Material Adverse Effect on TARGET.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Golden Isles Financial Holdings Inc), Agreement and Plan of Merger (Abc Bancorp)
Target Allowance for Possible Loan Losses. The allowance for ----------------------------------------- possible loan or credit losses (the "TARGET Allowance") shown on the consolidated balance sheets of TARGET included in the most recent TARGET Financial Statements dated prior to the date of this Agreement was, and the TARGET Allowance shown on the consolidated balance sheets of TARGET included in the TARGET Financial Statements as of dates subsequent to the execution of this Agreement will be, maintained in accordance with, and are in the amounts required by, by GAAP and applicable regulatory requirements or guidelines as of the dates thereof, thereof except where the failure of such TARGET Allowance to be so maintained is not reasonably likely to have a Material Adverse Effect on TARGET.
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