Common use of Ownership of Property; Insurance Coverage Clause in Contracts

Ownership of Property; Insurance Coverage. (a) VIST and each VIST Subsidiary has good and, as to real property, marketable Title to all material assets and properties owned by VIST or each VIST Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST Regulatory Reports and in the VIST Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST Financial Statements. VIST and the VIST Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST and VIST Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST 4.10.1. ABNJ and each VIST ABNJ Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST ABNJ or each VIST ABNJ Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST ABNJ Regulatory Reports and in the VIST ABNJ Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST ABNJ Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST ABNJ Financial Statements. VIST ABNJ and the VIST ABNJ Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST ABNJ and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Such existing leases and commitments to lease constitute or will constitute operating leases for both tax and financial accounting purposes and the lease expense and minimum rental commitments with respect to such leases and lease commitments are as disclosed in all material respects in the notes to the ABNJ Financial Statements.

Ownership of Property; Insurance Coverage. (a) VIST 4.10.1. HNC and each VIST HNC Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST HNC or each VIST HNC Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST HNC Regulatory Reports and in the VIST HNC Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST HNC Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST HNC Financial Statements. VIST HNC and the VIST HNC Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST HNC and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST 5.8.1. PFS and each VIST PFS Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST PFS or each VIST PFS Subsidiary in the conduct of its their businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST PFS Regulatory Reports and in the VIST PFS Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLBFHLB and FRB, inter-bank credit facilities, or any transaction by an VIST a PFS Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST PFS Financial Statements. VIST PFS and the VIST PFS Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST PFS and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST Target and each VIST Target Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST Target or each VIST Target Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST Target Regulatory Reports and in the VIST Target Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations including but not limited to, real estate taxes, assessments and other governmental levies, fees or charge or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST Target Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, (iv) mechanics liens and similar liens for labor, materials, services or supplies provided for such property incurred in the ordinary course of business for amounts not yet delinquent or which are being contested in good faith and (ivv) those described and reflected in the VIST Target Financial Statements. VIST Target and the VIST Target Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST Target and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST Alpena Banking Corporation and each VIST Alpena Banking Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST it or each VIST Alpena Banking Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST Regulatory Reports and in the VIST Financial Statements Alpena Banking Financials or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST Alpena Banking Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which that are being contested in good faith, (iii) non-monetary liens affecting real property which that do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST Financial StatementsAlpena Banking Financials. VIST Alpena Banking Corporation and the VIST Alpena Banking Corporation Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST Alpena Banking Corporation and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST Investors Bancorp and each VIST Investors Bancorp Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST Investors Bancorp or each VIST Investors Bancorp Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST Regulatory Reports and in the VIST Financial Statements Investors Financials or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLB, inter-bank credit facilities, or any transaction by an VIST Investors Bancorp Subsidiary acting in a fiduciary capacity, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (iv) those described and reflected in the VIST Financial StatementsInvestors Financials. VIST Investors Bancorp and the VIST Investors Bancorp Subsidiaries, as lessee, have the right under valid and existing leases of real and personal properties used by VIST Investors Bancorp and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

Ownership of Property; Insurance Coverage. (a) VIST 4.9.1. EXX and each VIST EXX Subsidiary has good and, as to real property, marketable Title title to all material assets and properties owned by VIST EXX or each VIST EXX Subsidiary in the conduct of its their businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the balance sheets contained in the VIST EXX Regulatory Reports and in the VIST EXX Financial Statements or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheets), subject to no material encumbrances, liens, mortgages, security interests or pledges, except (ia) those items which secure liabilities for public or statutory obligations or any discount with, borrowing from or other obligations to FHLBFHLB or ACBB, inter-bank credit facilities, or any transaction by an VIST a EXX Subsidiary acting in a fiduciary capacity, (iib) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iiic) non-monetary liens affecting real property which do not adversely affect the value or use of such real property, and (ivd) those described and reflected in the VIST EXX Financial Statements. VIST EXX and the VIST EXX Subsidiaries, as lessee, have the right under valid and existing enforceable leases of real and personal properties used by VIST EXX and VIST its Subsidiaries in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them. Neither EXX nor any EXX Subsidiary is in default under any lease for any real or personal property to which either EXX or any EXX Subsidiary is a party, and there has not occurred any event that, with lapse of time or the giving of notice or both, would constitute such a default. EXX is not a party to any agreement pursuant to which it has securitized any of its assets.