Common use of Accounting for the Merger Clause in Contracts

Accounting for the Merger. Reorganization. As of the date hereof, after reviewing the terms of this Agreement, the stock repurchases by HUBCO and IBSF, and the employee benefit plans of IBSF and the Association with IBSF's independent auditors, IBSF does not have any reason to believe that the Merger will fail to qualify (i) for pooling-of-interests accounting treatment under GAAP, or (ii) as a reorganization under Section 368(a) of the Code.