Investment Securities. (i) It and each of its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interest, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it or its Subsidiaries and except for such defects in title or liens, encumbrances or security interests that would not be material to it. Such securities are valued on the books of it and each of its Subsidiaries in accordance with GAAP in all material respects.
Appears in 6 contracts
Samples: Affiliate Agreement (Union Bankshares Corp), Agreement and Plan of Merger (Eastern Virginia Bankshares Inc), Affiliate Agreement (Xenith Bankshares, Inc.)
Investment Securities. (i) It and each of its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interest, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it or its Subsidiaries and except for such defects in title or liens, encumbrances or security interests that would not be material to it. Such securities are valued on the books of it and each of its Subsidiaries in accordance with GAAP in all material respectsGAAP.
Appears in 5 contracts
Samples: Agreement and Plan of Reorganization (Virginia National Bankshares Corp), Affiliate Agreement (FVCBankcorp, Inc.), Agreement and Plan of Reorganization (Blue Ridge Bankshares, Inc.)
Investment Securities. (ia) It Each of Company and each of its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interestLien, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it Company or any of its Subsidiaries and except for such defects in title or liens, encumbrances or security interests Liens that would not be material to itCompany and its Subsidiaries, taken as a whole. Such securities are valued on the books of it Company and each of its Subsidiaries in accordance with GAAP in all material respectsGAAP.
Appears in 5 contracts
Samples: Agreement and Plan of Merger (SCBT Financial Corp), Agreement and Plan of Merger (First Federal Bancshares of Arkansas Inc), Agreement and Plan of Merger (Savannah Bancorp Inc)
Investment Securities. (i) It and each of its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interest, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it or its Subsidiaries and except for such defects in title or liens, encumbrances or security interests that would not be material to it. Such securities are valued on the books of it and each of its Subsidiaries in accordance with GAAP in all material respectsGAAP.
Appears in 4 contracts
Samples: Affiliate Agreement (Union First Market Bankshares Corp), Agreement and Plan of Reorganization (Access National Corp), Agreement and Plan of Reorganization (Middleburg Financial Corp)
Investment Securities. (ia) It Each of the Company and each of its Subsidiaries has good and marketable title to all securities held by it (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interestLien, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it the Company or any of its Subsidiaries and except for such defects in title or liens, encumbrances or security interests Liens that would not be material to itthe Company and its Subsidiaries, taken as a whole. Such securities are valued on the books of it the Company and each of its Subsidiaries in accordance with GAAP in all material respectsGAAP.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (DNB Financial Corp /Pa/), Agreement and Plan of Merger (Southeastern Bank Financial CORP), Agreement and Plan of Merger (S&t Bancorp Inc)
Investment Securities. (ia) It Each of the Company and each of its Subsidiaries has good and marketable title to all securities held by it in all material respects (except securities sold under repurchase agreements or held in any fiduciary or agency capacity) free and clear of any lien, encumbrance or security interestLien, except to the extent that such securities are pledged in the ordinary course of business consistent with prudent business practices to secure obligations of it the Company or any of its Subsidiaries and except for such defects in title or liens, encumbrances or security interests Liens that would not be material to itthe Company and its Subsidiaries, taken as a whole. Such securities are valued on the books of it the Company and each of its Subsidiaries in accordance with GAAP in all material respects.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Park Sterling Corp), Agreement and Plan of Merger (SOUTH STATE Corp)
