Change in Ownership of a Substantial Portion of Assets. a change in ownership of a substantial portion of the Corporation’s assets occurs if in a 12-month period any one person or more than one person acting as a group acquires from the Corporation assets having a total gross fair market value equal to or exceeding 40% of the total gross fair market value of all of the Corporation’s assets immediately before the acquisition or acquisitions. For this purpose, gross fair market value means the value of the Corporation’s assets, or the value of the assets being disposed of, determined without regard to any liabilities associated with the assets.
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Samples: Employment Agreement (Franklin Financial Corp), Employment Agreement (Franklin Financial Corp), Employment Agreement (Pulaski Financial Corp)
Change in Ownership of a Substantial Portion of Assets. a change in ownership of a substantial portion of the Corporation’s Bancorp's assets occurs if in a 12-month period any one person or more than one person acting as a group acquires from the Corporation Bancorp assets having a total gross fair market value equal to or exceeding 40% of the total gross fair market value of all of the Corporation’s Bancorp's assets immediately before the acquisition or acquisitions. For this purpose, gross fair market value means the value of the Corporation’s Bancorp's assets, or the value of the assets being disposed of, determined without regard to any liabilities associated with the assets.
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