Common use of Material Loans Clause in Contracts

Material Loans. Make, commit to make, renew, extend the maturity of, or alter any of the material terms of any Loan in excess of $1.0 million, or such higher amount as may be mutually agreeable to the parties, but FNBC will be deemed to have given its consent under this Section 7.01V unless FNBC objects to such transaction no later than three Business Days after actual receipt by FNBC of all information relating to the making, renewal or alteration of that Loan;