Common use of Loans; Allowance for Loan Losses Clause in Contracts

Loans; Allowance for Loan Losses. (i) Except as Previously Disclosed in its Disclosure Schedule, to -------------------- its Knowledge each loan reflected as an asset in its Regulatory Filings (A) is evidenced by notes, agreements or evidences of indebtedness which are true, genuine and what they purport to be, (B) to the extent secured, has been secured by valid liens and security interests which have been perfected, (C) is the legal, valid and binding obligation of the obligor and any guarantor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors' rights and to general equity principles, and no defense, offset or counterclaim has been asserted with respect to any such loan which if successful could have a Material Adverse Effect, and (D) in all material respects was made in accordance with it's standard loan policies.

Loans; Allowance for Loan Losses. (i) Except as Previously Disclosed in its Disclosure ScheduleDisclosed, to -------------------- its Prosperity’s Knowledge each loan reflected as an asset in its Regulatory Filings the Prosperity Reports (A) is evidenced by notes, agreements or evidences of indebtedness which are true, genuine and what they purport to be, (B) to the extent secured, has been secured by valid liens and security interests which have been perfected, (C) is the legal, valid and binding obligation of the obligor and any guarantor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors' ’ rights and to general equity principles, and no defense, offset or counterclaim has been asserted with respect to any such loan which if successful could have a Material Adverse EffectEffect on Prosperity, and (D) in all material respects was made in accordance with it's Prosperity’s standard loan policies.

Loans; Allowance for Loan Losses. (i) Except as Previously Disclosed set forth in its Disclosure ScheduleLetter, to -------------------- its Knowledge each loan reflected as an asset in its Regulatory Filings SEC Reports or its Bank Reports (A) is evidenced by notes, agreements or evidences of indebtedness which are true, genuine and what they purport to be, (B) to the extent secured, has been secured by valid liens and security interests which have been perfected, (C) is the legal, valid and binding obligation of the obligor and any guarantor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors' ’ rights and to general equity principles, and no defense, offset or counterclaim has been asserted with respect to any such loan which if successful could have a Material Adverse Effect, and (D) in all material respects was made in accordance with it's its standard loan policies.

Loans; Allowance for Loan Losses. (ia) Except as Previously Disclosed in its Disclosure Schedule, to the -------------------- its Knowledge of AFC each loan reflected as an asset in its Regulatory Filings the AFC Financial Statements (Ai) is evidenced by notes, agreements or evidences of indebtedness which are true, genuine and what they purport to be, (Bii) to the extent secured, has been secured by valid liens and security interests which have been perfected, (Ciii) is the legal, valid and binding obligation of the obligor and any guarantor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance and other laws of general applicability relating to or affecting creditors' rights and to general equity principles, and no defense, offset or counterclaim has been asserted with respect to any such loan which if successful could have a Material Adverse Effect, and (Div) in all material respects was made in accordance with itAFC's standard loan policies.