Absence of Control. It is the intent of the parties to this Agreement that in no event shall Lenders, by reason of this Agreement or the Subordinated Notes, be deemed to control, directly or indirectly, Borrower or any of its Subsidiaries, and Lenders shall not exercise, or be deemed to exercise, directly or indirectly, a controlling influence over the management or policies of Borrower or any of its Subsidiaries.
Appears in 5 contracts
Samples: Subordinated Note Purchase Agreement, Subordinated Note Purchase Agreement (Bay Banks of Virginia Inc), Subordinated Note Purchase Agreement (First Business Financial Services, Inc.)
Absence of Control. It is the intent of the parties to this Agreement that in no event event, other than with respect to any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings under U.S. federal or state bankruptcy laws, shall Lenders, by reason of this Agreement or the Subordinated NotesNote, be deemed to control, directly or indirectly, Borrower or any of its Subsidiaries, and Lenders Initial Lender shall not exercise, or be deemed to exercise, directly or indirectly, a controlling influence over the management or policies of Borrower or any of its Subsidiaries.
Appears in 1 contract
Samples: Subordinated Loan Agreement (First National Corp /Va/)
