LFB Subsidiary definition

LFB Subsidiary means any corporation, partnership, joint venture or other legal entity in which LFB, directly or indirectly, owns at least a 50% stock or other equity interest or for which LFB, directly or indirectly, acts as a general partner, provided that to the extent that any representation or warranty set forth herein covers a period of time prior to the date of this Agreement, the term "LFB Subsidiary" shall include any entity which was a LFB Subsidiary at any time during such period. The Association is a federally chartered bank duly organized and validly existing in stock form under the laws of the United States. All eligible accounts of depositors issued by the Association are insured by the Savings Association Insurance Fund of the FDIC (the "SAIF") or the Bank Insurance Fund of the
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LFB Subsidiary means any corporation, partnership, joint venture or other legal entity in which LFB, directly or indirectly, owns at least a 50% stock or other equity interest or for which LFB, directly or indirectly, acts as a general partner, provided that to the extent that any representation or warranty set forth herein covers a period of time prior to the date of this Agreement, the term "LFB Subsidiary" shall include any entity which was a LFB Subsidiary at any time during such period. The Association is a federally chartered bank duly organized and validly existing in stock form under the laws of the United States. All eligible accounts of depositors issued by the Association are insured by the Savings Association Insurance Fund of the FDIC (the "SAIF") or the Bank Insurance Fund of the FDIC ("BIF") to the fullest extent permitted by law. Each LFB Subsidiary has the corporate power and authority to own or lease all of its properties and assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified would not have a material adverse effect on the business, operations, assets or financial condition of LFB and the LFB Subsidiaries, taken as a whole.
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LFB Subsidiary shall include any entity which was a LFB Subsidiary at any time during such period. The Association is a federally chartered bank duly organized and validly existing in stock form under the laws of the United States. All eligible accounts of depositors issued by the Association are insured by the Savings Association Insurance Fund of the FDIC (the "SAIF") or the Bank Insurance Fund of the FDIC ("BIF") to the fullest extent permitted by law. Each LFB Subsidiary has the corporate power and authority to own or lease all of its properties and assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed or qualified would not have a material adverse effect on the business, operations, assets or financial condition of LFB and the LFB Subsidiaries, taken as a whole.
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Examples of LFB Subsidiary in a sentence

  • Since September 30, 1998, neither LFB nor any LFB Subsidiary has incurred any liabilities except in the ordinary course of business and consistent with prudent business practice, except as related to the transactions contemplated by this Agreement or except as set forth in the LFB Disclosure Schedule.

  • Except as disclosed in the LFB Disclosure Schedule, neither LFB nor any LFB Subsidiary is a party to any order, judgment or decree entered in any lawsuit or proceeding which is material to LFB or such LFB Subsidiary.

  • LFB and each LFB Subsidiary has established (and until the Effective Time will establish) on its books and records reserves that are adequate for the payment of all federal, state and local taxes not yet due and payable, but are incurred in respect of LFB or such LFB Subsidiary through such date.

  • No accrual or reserve made by LFB or any LFB Subsidiary pursuant to this subsection, or any litigation or regulatory proceeding arising out of any such accrual or reserve, shall constitute or be deemed to be a breach or violation of any representation, warranty, covenant, condition or other provision of this Agreement or to constitute a termination event within the meaning of Section 7.1(d) or Section 7.1(g) hereof.

  • Neither LFB nor any LFB Subsidiary has, since September 2, 1974, contributed to any "Multiemployer Plan," within the meaning of Section 3(37) of ERISA.

  • As of the date hereof, neither LFB nor any LFB Subsidiary has received any notice of cancellation or notice of a material amendment of any such insurance policy or bond or is in default under any such policy or bond, no coverage thereunder is being disputed and all material claims thereunder have been filed in a timely fashion.

  • None of the federal or state income tax returns of LFB or any LFB Subsidiary have been examined by the Internal Revenue Service (the "IRS") or the New Jersey Division of Taxation within the past six years.

  • Neither LFB nor any LFB Subsidiary is required by Section 32 of the Federal Deposit Insurance Act to give prior notice to a Federal banking agency of the proposed addition of an individual to its board of directors or the employment of an individual as a senior executive officer, except as disclosed in writing to HUBCO by LFB prior to the date of this Agreement.

  • The LFB Disclosure Schedule sets forth true and correct copies of all severance or employment agreements with officers, directors, employees, agents or consultants to which LFB or any LFB Subsidiary is a party.

  • All issued and outstanding shares of LFB Common Stock, and all issued and outstanding shares of capital stock of each LFB Subsidiary, have been duly authorized and validly issued, are fully paid, nonassessable and free of preemptive rights and are free and clear of any liens, encumbrances, charges, restrictions or rights of third parties imposed by LFB or any LFB Subsidiary.


More Definitions of LFB Subsidiary

LFB Subsidiary shall include any entity which was a LFB Subsidiary at any time during such period. The Association is a federally chartered bank duly organized and validly existing in stock form under the laws of the United States. All eligible accounts of depositors issued by the Association are insured by the Savings Association Insurance Fund of the FDIC (the "SAIF") or the Bank Insurance Fund of the
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Related to LFB Subsidiary

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Parent Subsidiary means any Subsidiary of Parent.

  • Bank Subsidiary means the subsidiary or subsidiaries or the Bank which may from time to time be specified by the Bank to the Customer;

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.