Consistent with GAAP, Summit Clause Samples

Consistent with GAAP, Summit. Bancorp agrees that, on or before the Effective Time, based on a review of Bank Subsidiary's loan losses, current classified assets and commercial, multi-family and residential mortgage loans, Summit will work with FirstFederal with a goal of establishing collection procedures, internal valuation reviews, credit policies and practices and general valuation allowances which are consistent with guidelines used within the FirstFederal holding company system to the extent permitted by law and consistent with the fiduciary duties of the directors and other officers of Summit Bancorp and Bank Subsidiary at such times as reasonably requested by FirstFederal; provided, however, that neither Summit Bancorp nor Bank Subsidiary shall be obligated to make any such changes or adjustments until the following conditions have been satisfied: (i) each of the conditions precedent to Closing specified in Articles VI and VII of this Agreement shall have been satisfied and (ii) FirstFederal Financial shall certify to Summit Bancorp in writing that, as of the date as of which such request is being made, FirstFederal is aware of no facts or circumstances which would permit FirstFederal to terminate this Agreement pursuant to Article XI of this Merger Agreement. FirstFederal shall provide such assistance and direction to Summit as is necessary in conforming to such policies, practices and procedures.
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Related to Consistent with GAAP, Summit

  • Consistent Application The Employer agrees that management rights will not be exercised in a manner inconsistent with the express provisions of this Agreement.

  • Accounting Treatment For accounting purposes, the Merger is intended to be treated as a "purchase."

  • Consistent with Section 1 hereof, the Trust shall use its best efforts to qualify and maintain the qualification of the Shares for sale under the securities laws of such jurisdictions as the Placement Agent and the Trust may approve. Any such qualification may be withheld, terminated or withdrawn by the Trust at any time in its discretion. The expense of qualification and maintenance of qualification shall be borne by the Trust. The Placement Agent shall furnish such information and other material relating to its affairs and activities as may be required by the Trust in connection with such qualification.

  • CONSISTENT CHANGES The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above.

  • Accounting Practices All matters concerning this FuturesAccess Fund’s accounting practices shall be determined by the Sponsor on a fair and equitable basis, and all such determinations shall be final and conclusive as to all Investors. However, the Sponsor shall be under no obligation whatsoever to make any deviations from the allocations set forth in this Article II. In reporting Net Asset Values to Investors and third parties on an interim basis, the Sponsor shall be entitled to accrue fees and payments due at the end of a period as if such fees or payments were due (on a pro rata basis, if appropriate) as of the end of an interim period within such period.