Common use of Securities Documents Clause in Contracts

Securities Documents. Sovereign has delivered, or will deliver, to Bankers copies of its (i) annual reports on SEC Form 10-K for the years ended December 31, 1995, 1994, and 1993, (ii) quarterly reports on SEC Form 10-Q for the quarters ended March 31, 1996, June 30, 1996 and September 30, 1996, (iii) current reports on SEC Form 8-K dated February 15, 1996, June 3, 1996, October 31, 1996 and November 26, 1996, and (iv) proxy statement dated March 15, 1996 used in connection with its annual meeting of shareholders held in April 1996. Such reports and such proxy materials complied, at the time filed with the SEC, in all material respects, with the Exchange Act and the applicable rules and regulations of the SEC.

Securities Documents. Sovereign has delivered, or will deliver, delivered to Bankers ML copies of its (i) annual reports on SEC Form 10-K for the years ended December 31, 19951996, 1995 and 1994, and 1993, (ii) quarterly reports on SEC Form 10-Q for the quarters ended March 31, 1996, 1997 and June 30, 1996 and September 30, 19961997, (iii) current reports on SEC Form 8-K dated February 155, 19961997, February 6, 1997, February 13, 1997, March 18, 1997 and June 317, 1996, October 31, 1996 and November 26, 1996, 1997 and (iv) proxy statement dated March 1519, 1996 1997 used in connection with its annual meeting of shareholders held in April 19961997. Such reports and such proxy materials complied, at the time filed with the SEC, in all material respects, with the Exchange Act and the applicable rules and regulations of the SEC.

Securities Documents. Sovereign has delivered, or will deliver, to Bankers Carnegie copies of its (i) annual reports on SEC Form 10-K for the years ended December 31, 1996, 1995, and 1994, and 1993, (ii) quarterly reports on SEC Form 10-Q for the quarters ended March 31, 19961997, June 30, 1996 1997 and September 30, 19961997, (iii) current reports on SEC Form 8-K dated February 15filed during 1997, 1996, June 3, 1996, October 31, 1996 and November 26, 1996, and (iv) proxy statement dated March 1519, 1996 1997 used in connection with its annual meeting of shareholders held in April 19961997 and (iv) any other Securities Documents reasonably requested by Carnegie. Such reports and such proxy materials complied, at the time filed with the SEC, in all material respects, with the Exchange Act and the applicable rules and regulations of the SEC.

Securities Documents. Sovereign has delivered, or will -------------------- deliver, to Bankers Peoples copies of its (i) annual reports on SEC Form 10-K for the years ended December 31, 19951997, 19941996, and 19931995, (ii) quarterly reports on SEC Form 10-Q for the quarters ended March 31, 1996, 1998 and June 30, 1996 and September 30, 19961998, (iii) current reports on SEC Form 8-K dated June 23, 1998, April 20, 1998, February 1520, 19961998 and February 19, June 3, 1996, October 31, 1996 and November 26, 19961998, and (iv) proxy statement dated March 1516, 1996 1998 used in connection with its annual meeting of shareholders held in April 19961998. Such reports and such proxy materials complied, at the time filed with the SEC, in all material respects, with the Exchange Act and the applicable rules and regulations of the SEC.