Capital Account of the Surviving Bank Sample Clauses

Capital Account of the Surviving Bank. The Surviving Bank shall have surplus and retained earnings equal to the consolidated capital accounts of TPB and FUSB immediately prior to the Effective Time. All such amounts of surplus and retained earnings shall be adjusted for normal earnings and expenses and any accounting adjustments related to the Affiliate Merger. As of the Effective Time, preferred stock shall not be issued by the Surviving Bank. TPB and FUSB shall contribute to the Surviving Bank acceptable Assets having a book value, over and above Liability to its creditors, in such amounts as set forth on the books of TPB and FUSB at the Effective Time.