Authority; No Breach of the Agreement. (i) It has all necessary corporate power and authority to execute, deliver and perform its obligations under this Agreement, and, subject to obtaining the SONA Shareholder Approvals (as defined below) and the EVBS Shareholder Approval (as defined below) to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, including the Merger, by it have been duly and validly authorized by all necessary corporate action (including valid authorization and unanimous adoption of this Agreement by its board of directors) and subject only to the receipt of (A) in the case of EVBS, approval of this Agreement and the Plan of Merger, by the holders of a majority of the outstanding shares of EVBS Common Stock present and entitled to vote (the “EVBS Shareholder Approval”) and (B) in the case of SONA, approval of (1) the SONA Articles of Incorporation Amendment by the holders of a majority of the outstanding shares of SONA Common Stock present and entitled to vote and (2) this Agreement and the Plan of Merger by the holders of more than two-thirds of the outstanding shares of SONA Common Stock present and entitled to vote (collectively, the “SONA Shareholder Approvals”).
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Eastern Virginia Bankshares Inc), Agreement and Plan of Merger (Southern National Bancorp of Virginia Inc)
Authority; No Breach of the Agreement. (i) It has all necessary corporate power and authority to execute, deliver and perform its obligations under this Agreement, and, subject to obtaining the SONA BRBS Shareholder Approvals (as defined belowherein) and the EVBS FVCB Shareholder Approval (as defined below) herein), to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, including the Merger, by it have been duly and validly authorized by all necessary corporate action (including valid authorization and unanimous adoption of this Agreement by its board of directors) and ), subject only to the receipt of (A) in the case of EVBSBRBS, approval of (1) the amendment to the BRBS Articles of Incorporation as described in Section 1.4(a) hereof and (2) this Agreement and the Plan of Merger, each by the holders of a majority more than two-thirds of the outstanding shares of EVBS BRBS Common Stock present and entitled to vote (together, the “EVBS BRBS Shareholder ApprovalApprovals”) ), and (B) in the case of SONAFVCB, approval of (1) the SONA Articles of Incorporation Amendment by the holders of a majority of the outstanding shares of SONA Common Stock present and entitled to vote and (2) this Agreement and the Plan of Merger by the holders of more than two-thirds of the outstanding shares of SONA FVCB Common Stock present and entitled to vote (collectively, the “SONA FVCB Shareholder ApprovalsApproval”).
Appears in 2 contracts
Samples: Affiliate Agreement (FVCBankcorp, Inc.), Affiliate Agreement (Blue Ridge Bankshares, Inc.)