REPRESENTATIONS AND WARRANTIES OF BANCORP AND WESTERN. Bancorp and Western, jointly and severally, represent and warrant to CBB as follows:
REPRESENTATIONS AND WARRANTIES OF BANCORP AND WESTERN. 10 4.1 Incorporation, Standing and Power.................................10 4.2 Capitalization....................................................11 4.3 Subsidiaries......................................................12 4.4 Financial Statements..............................................12 4.5 Material Liabilities..............................................12 4.6 Reports and Filings...............................................12 4.7 Authority.........................................................13 4.8 Conflicts.........................................................13 4.9 Taxes.............................................................14 4.10 Contracts.........................................................16 4.11 Title to Property.................................................18 4.12 Litigation........................................................19 4.13 Certain Adverse Change............................................20 4.14 Corporate Records.................................................20 4.15 Accounting Records; Data Processing...............................20 4.16 Insurance.........................................................21 4.17 Employee Benefit Plans and Employment and Labor Contracts.........21 4.18 Investments.......................................................24 4.19 Broker's or Finder's Fees.........................................24 4.20 Compliance with Rules.............................................25 4.21 Performance of Obligations........................................26 4.22 Employees.........................................................26 4.23 Certain Interests.................................................27 4.24 Extensions of Credit..............................................27 4.25 Operating Losses..................................................27
REPRESENTATIONS AND WARRANTIES OF BANCORP AND WESTERN. 17 4.1 Incorporation, Standing and Power.............................................................17 4.2 Capitalization................................................................................18 4.3 Subsidiaries..................................................................................20
