Pledge Agreement (Stocks, Bonds and Commercial Paper)Pledge Agreement • December 31st, 2008 • Parkvale Financial Corp • Savings institution, federally chartered
THIS PLEDGE AGREEMENT, dated as of this 30th day of December, 2008, is made by PARKVALE FINANCIAL CORPORATION (the “Pledgor”), with an address at 4220 William Penn Highway, Monroeville, PA, 15146, in favor of PNC BANK, NATIONAL ASSOCIATION (the “Secured Party”), with an address at One PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222-2707.
Term Note $25,000,000.00 December 30, 2008Term Note • December 31st, 2008 • Parkvale Financial Corp • Savings institution, federally chartered
FOR VALUE RECEIVED, PARKVALE FINANCIAL CORPORATION (the “Borrower”), with an address at 4220 William Penn Highway, Monroeville, PA 15146, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at One PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222-2707, or at such other location as the Bank may designate from time to time, the principal sum of TWENTY-FIVE MILLION DOLLARS ($25,000,000.00), together with interest accruing on the outstanding principal balance from the date hereof, all as provided below.
