LENDING POLICIES Clause Samples

LENDING POLICIES. (a) The Lending Policies and Loan Reserve Policies set forth a true, correct and complete description of the written policies and practices of the Acquired Persons relating to: (i) documentation procedures; (ii) collateralization practices (including loan to value ratios and valuation and appraisal of collateral); (iii) procedures for (including frequency of) billing and on-going monitoring and auditing of Loans, collections and review of past-due accounts; and (iv) making of charge-offs, write downs, specific accruals and specific valuation reserves for Loans and the placing of Loans on a non-accrual status. (b) Except as set forth on Schedule 3.15(b) hereto, each Loan originated or acquired by the Acquired Persons has been originated, authorized, collateralized, guaranteed and administered substantially in accordance with the Lending Policies and in compliance with applicable Law. (c) Except as set forth on Schedule 3.15(c) hereto, since May 31, 2001, neither Seller nor any Acquired Person has (i) changed in any material respect the credit standards applied by it to Obligors on Loans originated or acquired by it, (ii) failed to apply its policies with respect to accruals of provisions for credit losses in a manner consistent with past practice, or (iii) changed the Lending Policies or Loan Reserve Policies in any material respect.

LENDING POLICIES. (1) Within one hundred fifty (150) days, the Board shall review, revise, and adhere to the Bank's written loan policies. In revising these policies, the Board shall refer to the Loan Portfolio Management (a) a description of acceptable types of loans; (b) a provision that current and satisfactory credit information will be obtained on each borrower and significant guarantor(s); (c) minimum requirements for uniform and comprehensive credit analysis, including appropriate cash flow analysis, full disclosure of all significant aspects of the proposed credit, and an assessment of the risks involved, prior to credit approval; (d) minimum requirements for audited or compiled financial statements; (e) procedures for appropriate underwriting and management of all commercial lines of credit; (f) collection procedures, to include follow-up efforts, that are systematically and progressively stronger; (g) maturity scheduling related to the anticipated source of repayment, the purpose of the loan, and the useful life of the collateral; (h) guidelines for appraisal and/or evaluating collateral; (i) guidelines and limitations for participation loans; (j) a limitation on aggregate outstanding loans in relation to other balance sheet accounts; (k) guidelines and limitations on concentrations of credit; (l) guidelines designed to improve Board oversight of the loan approval process, specifically with regard to credits exhibiting significant risk; and (m) charge-off guidelines, by type of loan or other asset, addressing the circumstances under which a charge-off would be appropriate and ensuring the recognition of losses within the quarter of discovery. (2) Upon completion, a copy of this policy shall be forwarded to the Assistant Deputy Comptroller for review. (3) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the policy developed pursuant to this Article.

LENDING POLICIES. ( 1 ) Within one-hundred-twenty (120) days, the Board shall review, revise, and adhere to the Bank's written loan policies. In revising these policies, the Board shall refer to the Loan Portfolio Management booklet, A-LPM, of the Comptroller’s Handbook. For all loans, these policies shall incorporate, but not necessarily be limited to, the following: (a) a description of acceptable types of loans; (b) a provision that current and satisfactory credit information will be obtained on each borrower;

LENDING POLICIES. Each Party shall retain the right to set its own lending policies for all materials within such Parties collection, subject to the terms of Section 5.2 below.

LENDING POLICIES. (1) Within thirty (30) days, the Board shall review and revise the Bank’s written loan policy. The Board shall ensure that the policy conforms with the Loan Portfolio Management booklet, A-LPM, of the Comptroller’s Handbook. This policy, at a minimum, shall: (a) require detailed documentation of the particular purpose(s) of all loans; (b) require measures to ensure that current financial data regarding each borrower and any collateral is collected, analyzed and documented prior to the extension of credit to the borrower; (c) require that loans to insiders conform to the requirements contained in 12

LENDING POLICIES. We do not have a policy limiting our ability to make loans to other persons. We may consider offering purchase money financing in connection with the sale of properties where the provision of that financing will increase the value to be received by us for the property sold. We may make loans to joint ventures in which we or they participate or may participate in the future. We have not engaged in any significant lending activities in the past nor do we intend to in the future. Our Board has the authority, without further shareholder approval, to issue or cause our subsidiaries to issue, additional authorized common and preferred shares or otherwise raise capital, including through the issuance of senior securities, in any manner and on those terms and for that consideration it deems appropriate, including in exchange for property. Existing shareholders will have no preemptive right to common or preferred shares or other securities issued in any offering, and any offering might cause a dilution of a shareholder's investment in us. Although we have no current plans to do so, we may in the future issue common stock in connection with acquisitions. We also may issue securities in our subsidiaries in connection with acquisitions of property.