Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 175

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 175
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 respect to branching by Presence Bank (whether de novo, purchase, sale, closure or relocation) or acquire or construct, or enter into any agreement to acquire or construct, any interest in real
property;

(xiii) form any new subsidiary;

(xiv) increase or decrease the rate of interest paid on time deposits or on certificates of deposit, except in the ordinary course of business
and in a manner, and pursuant to policies, consistent with past practices;

(xv) take any action that is intended or may reasonably be
expected to result in any of the conditions to the merger set forth not being satisfied;

(xvi) make any equity investment or commitment
to make such an investment in real estate or in any real estate development project, other than in connection with foreclosures, settlements in lieu of foreclosure or troubled loan or debt restructuring in the ordinary course of business;

(xvii) purchase or sell or otherwise acquire any investment securities other than those issued by the U.S. Treasury, a U.S. agency or
government sponsored enterprise with a maximum remaining maturity of five years or less;

(xviii) commence any cause of action or
proceeding other than in accordance with past practice or settle any action, claim, arbitration, complaint, criminal prosecution, demand letter, governmental or other examination or investigation, hearing, inquiry or other proceeding against it for
material money damages or material restrictions upon any of their operations;

(xix) waive, release, grant or transfer any material rights
of value or modify or change in any material respect any existing agreement or indebtedness to which it is a party, other than in the ordinary course of business, consistent with past practices;

(xx) except for swaps entered into in the ordinary course of business with customers to hedge their interest rate exposure, enter into any
futures contract, option, interest rate caps, interest rate floors, interest rate exchange agreement or other agreement, or take any other action for purposes of hedging the exposure of its interest-earning assets and interest-bearing liabilities to
changes in market rates of interest;

(xxi) purchase or otherwise acquire, or sell or otherwise dispose of, any assets or incur any
liabilities other than in the ordinary course of business consistent with past practices and policies;

(xxii) purchase or sell any
participation interest in any loan other than in the ordinary course of business consistent with past practice; or

(xxiii) agree to do
any of the foregoing.

Norwood has agreed that, until completion of the merger, it and its