REPRESENTATIONS AND WARRANTIES OF SR BANCORP AND SOMERSETSAVINGS
SR Bancorp is a corporation duly organized, validly existing and in good standing under the laws of the State of Maryland, and upon completion of the Conversion and Charter Conversion, will be duly registered as a bank holding company under the BHCA (and if the Charter Conversion is not completed, will be duly registered as a savings and loan holding company under the HOLA). SR Bancorp has, and upon completion of the Conversion will have, full corporate power and authority to own, lease and operate its properties and to conduct its business. SR Bancorp is, and upon completion of the Conversion will be, duly qualified or licensed as a foreign corporation to transact business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or the nature of the business conducted by it makes such qualification or licensing necessary, except where the failure to be so qualified or licensed and in good standing would not have a Material Adverse Effect on SR Bancorp. SR Bancorp has no Subsidiaries and upon completion of the Conversion will have one direct Subsidiary, Somerset Bank.
【参考訳】SR Bancorp は、メリーランド州法に基づき正式に組織され、有効に存続し、かつ良好な状態にある法人であり、本転換および貸 店転換が完了した時点で、BHCA に基づき銀行持株会社として正式に登録される（貸 店転換が完了しない場合は、HOLA に基づき貯蓄貸付持株会社として正式に登録される）。SR Bancorp は、その不動産の所有、リース、運営、および業務執行に関する完全な会社権能を有し、本転換が完了した時点でこれを有するものとする。 SR Bancorp は子会社を有しておらず、本転換の完了後は直接の子会社は Somerset Bank の 1 社となる。
