Investment Securities and Commodities. (a) Except as would not reasonably be expected to have a Material Adverse Effect on Seller, Seller has good title to all securities and commodities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of Seller. Such securities and commodities are valued on the books of Seller in accordance with GAAP in all material respects.
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Samples: Agreement and Plan of Combination and Reorganization (Newbridge Bancorp), Agreement and Plan of Merger (BNC Bancorp), Agreement and Plan of Combination and Reorganization (Newbridge Bancorp)
Investment Securities and Commodities. (a) Except as would not reasonably be expected to have a Material Adverse Effect on Seller, each of Seller and its Subsidiaries has good title to all securities and commodities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of SellerSeller or its Subsidiaries. Such securities and commodities are valued on the books of Seller in accordance with GAAP in all material respects.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Ecb Bancorp Inc), Agreement and Plan of Merger (Crescent Financial Bancshares, Inc.), Agreement and Plan of Merger (BNC Bancorp)
Investment Securities and Commodities. (a) Except as would not reasonably be expected to have a Material Adverse Effect on Seller, each of Seller and Seller Bank has good title to all securities and commodities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of SellerSeller or Seller Bank. Such securities and commodities are valued on the books of Seller in accordance with GAAP in all material respects.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (BNC Bancorp), Agreement and Plan of Merger (BNC Bancorp)
Investment Securities and Commodities. (a) Except as would not reasonably be expected to have a Material Adverse Effect on SellerBuyer, Seller each of Buyer and its Subsidiaries has good title to all securities and commodities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of SellerBuyer or its Subsidiaries. Such securities and commodities are valued on the books of Seller Buyer in accordance with GAAP in all material respects.
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Investment Securities and Commodities. (a) Except as would not reasonably be expected to have a Material Adverse Effect on Seller, each of Seller and each Seller Subsidiary has good title to all securities and commodities owned by it (except those sold under repurchase agreements or held in any fiduciary or agency capacity), free and clear of any Liens, except to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of SellerSeller or such Seller Subsidiary. Such securities and commodities are valued on the books of Seller or such Seller Subsidiary in accordance with GAAP in all material respects.
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