CCBF and CCB Bank. This Agreement shall inure to the benefit of and be binding upon CCBF and CCB Bank and their respective successors and assigns. Each of CCBF and CCB Bank will require any successor to it (whether direct or indirect, by stock or asset purchase, merger, consolidation or otherwise) to all or substantially all of its business or more than fifty percent (50%) of its assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent it would be required to perform it if no such succession had taken place. As used in this Agreement, "CCBF" and "CCB Bank" shall mean CCBF and CCB Bank as hereinbefore defined and any successor to their respective businesses and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise.
Appears in 7 contracts
Samples: Employment And (CCB Financial Corp), Change of Control Agreement (CCB Financial Corp), Employment And (CCB Financial Corp)
