Common use of Closing Delay Clause in Contracts

Closing Delay. By either American or HomeTown, evidenced by written notice, if the Merger has not been consummated by September 30, 2019 or such later date as shall have been agreed to in writing by the parties, provided that the right to terminate under this Section 7.1(b) shall not be available to any party whose breach or failure to perform an obligation hereunder has caused the failure of the Merger to occur on or before such date;

Appears in 2 contracts

Samples: Merger Agreement (American National Bankshares Inc.), Merger Agreement (HomeTown Bankshares Corp)

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Closing Delay. By either American or HomeTownMainStreet, evidenced by written notice, if the Merger has not been consummated by September 30July 1, 2019 2015 or such later date as shall have been agreed to in writing by the parties, provided that the right to terminate under this Section 7.1(b) shall not be available to any party whose breach or failure to perform an obligation hereunder has caused the failure of the Merger to occur on or before such date;

Appears in 2 contracts

Samples: Merger Agreement (American National Bankshares Inc.), Agreement and Plan of Reorganization (Mainstreet Bankshares Inc)

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Closing Delay. By either American Buyer or HomeTownHolding Company and Bank Subsidiary, evidenced by written notice, if the Merger has not been consummated by September 30December 31, 2019 2016 or such later date as shall have been agreed to in writing by the parties, provided that the right to terminate under this Section 7.1(b) shall not be available to any party whose breach or failure to perform an obligation hereunder has caused the failure of the Merger to occur on or before such date;

Appears in 1 contract

Samples: Merger Agreement (Monarch Financial Holdings, Inc.)

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