Examples of Proposed Bank in a sentence
Subject to the provisions of Section 11.05(b) hereof, such Proposed Bank shall be a “Bank” for all purposes hereunder.
Without prejudice to the survival of any other agreement of the Company hereunder the agreements of the Company contained in said Sections 5.01, 5.06 and 11.03 (without duplication of any payments made to such Departing Bank by the Company or the Proposed Bank) shall survive for the benefit of such Departing Bank under this Section 5.07 with respect to the time prior to such replacement.
Without prejudice to the survival of any other agreement of the Company hereunder the agreements of the Company contained in Sections 5.01, 5.06 and 11.03 hereof (without duplication of any payments made to such Requesting Bank by the Company or the Proposed Bank) shall survive for the benefit of such Requesting Bank under this Section 5.07 with respect to the time prior to such replacement.
An Organizer may withdraw as an organizer of the Company or the Proposed Bank by giving written notice to the Co-Managers.
Each Organizer, by execution of a counterpart hereof, hereby agrees to contribute funds in the amount of $30,000 (“Pre-Opening Funds”) for the purpose of funding organizational expenses of the Company and the Proposed Bank.
The Co-Managers are hereby authorized and directed to execute and deliver written agreements with attorneys, accountants, economists and banking/fundraising consultants, relating to the various applications to be filed with the Regulators in connection with the organization of the Proposed Bank, and for other services related to the organization of the Company or the Proposed Bank.
Subject to the provisions of Section 11.06(b) hereof, such Proposed Bank shall be a "Bank" for all purposes hereunder.
This Agreement is personal to the parties hereto and may not be assigned, except with respect to the Company to a successor corporate entity, including the Proposed Bank, once established.
The parties understand and agree that it may be necessary for the Company to borrow funds or otherwise secure lines of credit for the purpose of obtaining funds to pay pre-incorporation and pre-opening expenses of the Proposed Bank and that lenders may require such financing arrangements to be evidenced by one or more notes co-signed or guaranteed by each of the undersigned on a joint or several or other basis.
Subject to the provisions of Section 11.06(b) hereof, such Proposed Bank shall be a "Bank" for all purposes hereunder, provided that no such Proposed Bank shall as a result of such purchase hold more than 25% of the aggregate amount of the Commitments.