Common use of Classified Assets Clause in Contracts

Classified Assets. Classified Assets as of the end of the month prior to the Effective Time shall not exceed 125% of the aggregate balance of Classified Assets as of September 30, 2013, set forth in Section 3.15(a) of the Seller Disclosure Schedule; for the purposes of this Section 7.2(f), “Classified Assets” means loans or other assets characterized as “Special Mention”, “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Seller, prepared in a manner consistent with past practice, with the preparation of the Seller Financial Statements and with Seller’s written policies in effect as of the date of this Agreement; and three calendar days before the Closing Date, Seller shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.

Classified Assets. Classified Assets as of the end of the month prior to the Effective Time shall not exceed 125115% of the aggregate balance of Classified Assets as of September 30, 2013, set forth in Section 3.15(a3.16(a) of the Seller Disclosure Schedule; for the purposes of this Section 7.2(f7.2(i), “Classified Assets” means loans or other assets characterized as “Special Mention”, “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Seller, prepared in a manner consistent with past practice, with the preparation of the Seller Financial Statements and with Seller’s written policies in effect as of the date of this Agreement; and three calendar days before the Closing Date, Seller shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.

Classified Assets. The Classified Assets of the Seller Bank as of the end of the month prior to the Effective Time shall not exceed 125% of the aggregate balance of Classified Assets as of September 30, 2013, set forth in Section 3.15(a3.16(a) of the Seller Disclosure Schedule; for the purposes of this Section 7.2(f7.2(h), “Classified Assets” means loans or other assets characterized as “Special Mention”, “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Seller, prepared in a manner consistent with past practice, with the preparation of the Seller Financial Statements and with Sellerthe Seller Bank’s written policies in effect as of the date of this Agreement; and three calendar days Business Days before the Closing Date, Seller shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.

Classified Assets. Classified Assets as of the end of the month prior to the Effective Time shall not exceed 125% of the aggregate balance of Classified Assets as of September 30, 2013, set forth in Section 3.15(a3.16(a) of the Seller Disclosure Schedule; for the purposes of this Section 7.2(f7.2(g), “Classified Assets” means loans or other assets characterized as “Special Mention”, “Substandard”, “Doubtful”, “Loss” or words of similar import and “Other Real Estate Owned”, all as reflected in the books and records of Seller, prepared in a manner consistent with past practice, with the preparation of the Seller Financial Statements and with Seller’s written policies in effect as of the date of this Agreement; and three calendar days before the Closing Date, Seller shall provide Buyer with a schedule reporting Classified Assets, including “Other Real Estate Owned”, as of such time.