Additional Regulatory Matters. (a) Each of the Company and the Investor agrees to cooperate and use its commercially reasonable efforts to ensure, including by communicating with each other with respect to the Investor’s purchases of the Common Shares, the Series B Preferred Shares and the Note, that neither the Investor nor any of the Investor’s Affiliates will become or control a “bank holding company” within the meaning of the BHC Act and the CBCA.
Appears in 1 contract
Samples: Securities Purchase Agreement (Mackinac Financial Corp /Mi/)
Additional Regulatory Matters. (a) Each of the Company and the Investor agrees to cooperate and use its commercially reasonable efforts to ensure, including by communicating with each other with respect to the Investor’s purchases purchase of the Common Shares, the Series B Preferred Shares and the Note, that neither the Investor nor any of the Investor’s Affiliates will become or control a “bank holding company” within the meaning of the BHC Act and the CBCA.
Appears in 1 contract
Samples: Securities Purchase Agreement (Mackinac Financial Corp /Mi/)
Additional Regulatory Matters. (a) Each of the Company and the Investor agrees to cooperate and use its commercially reasonable best efforts to ensure, including by communicating with each other with respect to the Investor’s their respective purchases of the Common SharesStock, the Series B Preferred Shares Stock and the NoteWarrants, that neither the Investor nor any of the Investor’s Affiliates will become become, or control control, a “bank holding company” within the meaning of the BHC Act and the CBCA.
Appears in 1 contract
Samples: Securities Purchase Agreement (Intermountain Community Bancorp)
Additional Regulatory Matters. (a) Each of the Company and the Investor agrees to cooperate and use its commercially reasonable best efforts to ensure, including by communicating with each other with respect to the Investor’s their respective purchases of the Common Shares, the Stock and Series B A Preferred Shares and the NoteStock, that neither the Investor nor any of the Investor’s Affiliates will become become, or control control, a “bank holding company” within the meaning of the BHC Act and the CBCA.
Appears in 1 contract
Samples: Securities Purchase Agreement (United Community Financial Corp)