FNBL definition
Examples of FNBL in a sentence
FNBL is in material compliance with the applicable provisions of the CRA, and, as of the date hereof, Bank has received a CRA rating of "satisfactory" or better.
The information to be supplied by First Leesport and FNBL for inclusion in the Registration Statement (including the Prospectus/Proxy Statement) will not, at the time the Registration Statement is declared effective pursuant to the Securities Act, contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein not misleading.
FNBL has the corporate power and authority to carry on its business and operations as now being conducted and to own and operate the properties and assets now owned and being operated by it.
Neither First Leesport nor FNBL know of any fact or circumstance or set of facts or circumstances which would cause FNBL to fail to comply with such provisions in a manner which would have a Material Adverse Effect with respect to First Leesport.
Either First Leesport or FNBL owns all of the outstanding shares of capital stock of each First Leesport Subsidiary free and clear of all liens, security interests, pledges, charges, encumbrances, agreements and restrictions of any kind or nature.
Neither FNBL nor any other First Leesport Subsidiary is qualified or licensed to do business as a foreign corporation in any other jurisdiction and neither is required to be so qualified or licensed as the result of the ownership or leasing of property or the conduct of its business, except where the failure to be so qualified or licensed would not have a Material Adverse Effect with respect to First Leesport.
In the event that MBP is merged or combined with FNBL on a date prior to two (2) years from the Effective Date pursuant to Section 4.09(b)(iv) hereof, First Leesport shall take such action as may be necessary to cause two (2) additional individuals designated by the directors of MBP holding such office immediately prior to the Effective Date, who are reasonably acceptable to First Leesport, to be elected to the Board of Directors of FNBL through a period ending three (3) years from the Effective Date.
The benefits payable under this subsection shall not apply to any employee or MBP who enters into a written employment agreement with First Leesport or FNBL.