Common use of Antidilutive Adjustments Clause in Contracts

Antidilutive Adjustments. If, prior to the Effective Time, the Corporation or the Bank shall declare any dividend payable in shares of its respective common stock or shall subdivide, split, reclassify or combine the presently outstanding shares of its common stock (other than as a result of the Bank's Stock Split), then an appropriate and proportionate adjustment shall be made in the number of shares of Corporation Stock to be issued in exchange for each of the shares of Bank Stock.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Mountainbank Financial Corp), Agreement and Plan of Reorganization (Mountainbank Financial Corp)

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Antidilutive Adjustments. If, prior to the Effective Time, the Corporation Bank or the Bank BankCorp shall declare any dividend payable in shares of its respective common stock or shall subdivide, split, reclassify or combine the presently outstanding shares of its common stock (other than as a result of the Bank's Stock Split)stock, then an appropriate and proportionate adjustment shall be made in the number of shares of Corporation BankCorp Stock to be issued in exchange for into which each of the shares share of Bank StockStock will be converted and exchanged at the Effective Time.

Appears in 1 contract

Samples: Agreement and Plan (Bank of Wilmington CORP)

Antidilutive Adjustments. If, prior to the Effective Time, the Corporation Bank or the Bank Corporation shall declare any dividend payable in shares of its respective common stock or shall subdivide, split, reclassify or combine the presently outstanding shares of its common stock (other than as a result of the Bank's Stock Split)stock, then an appropriate and proportionate adjustment shall be made in the number of shares of Corporation Stock to be issued in exchange into and for which each of the shares share of Bank StockStock will be converted and exchanged at the Effective Time.

Appears in 1 contract

Samples: Agreement and Plan (Bank of the Carolinas CORP)

Antidilutive Adjustments. If, prior to the Effective Time, the Corporation Bank or the Bank Corporation shall declare any dividend payable in shares of its respective common stock or shall subdivide, split, reclassify or combine the presently outstanding shares of its common stock (other than as a result of the Bank's Stock Split)stock, then an appropriate and proportionate adjustment shall be made in the number of shares of Corporation Stock to be issued in exchange for into which each of the shares share of Bank StockStock will be converted and exchanged at the Effective Time.

Appears in 1 contract

Samples: Agreement and Plan (Bank of the Carolinas CORP)

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Antidilutive Adjustments. If, prior to the Effective Time, the Corporation or the Bank shall declare any dividend payable in shares of its respective common stock or shall subdivide, split, reclassify or combine the presently outstanding shares of its common stock (other than as a result of the Bank's Stock Split), then an appropriate and proportionate adjustment shall be made in the number of shares of Corporation Stock to be issued in exchange for each of the shares of Bank Stock.

Appears in 1 contract

Samples: Agreement and Plan (North State Bancorp)

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