Common use of Conduct of Business Pending Consummation Clause in Contracts

Conduct of Business Pending Consummation. 7.1 Affirmative Covenants of Each Party. From the date of this Agreement ----------------------------------- until the earlier of the Effective Time or the termination of this Agreement, unless the prior written consent of the other Party shall have been obtained, and except as otherwise expressly contemplated herein, each Party shall and shall cause each of its Subsidiaries to (a) operate its business only in the usual, regular, and ordinary course, (b) preserve intact its business organization and Assets and maintain its rights and franchises, and (c) take no action which would (i) materially adversely affect the ability of either Party to obtain any Consents required for the transactions contemplated hereby without imposition of a condition or restriction of the type referred to in the last sentences of Section 9.1(b) or 9.1(c), or (ii) materially adversely affect the ability of either Party to perform its covenants and agreements under this Agreement.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Colony Bankcorp Inc), Agreement and Plan of Merger (Quitman Bancorp Inc)

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Conduct of Business Pending Consummation. 7.1 Affirmative Covenants of Each Party. From the date of this Agreement ----------------------------------- until the earlier of the Effective Time or the termination of this Agreement, unless the prior written consent of the other Party shall have been obtained, and except as otherwise expressly contemplated herein, each Party shall and shall cause each of its Subsidiaries to (ai) operate its business only in the usual, regular, and ordinary course, (bii) preserve intact its business organization and material Assets and maintain its rights and franchises, and (ciii) take no action which that would (iA) materially adversely affect the ability of either Party to obtain any Consents required for the transactions contemplated hereby without imposition of a condition or restriction of the type referred to in the last sentences of Section 9.1(b) or 9.1(c), or (iiB) materially adversely affect the ability of either Party to perform its covenants and agreements under this Agreement.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Neighbors Bancshares Inc), Agreement and Plan of Reorganization (WGNB Corp)

Conduct of Business Pending Consummation. 7.1 Affirmative Covenants of Each Party. From the date of this Agreement ----------------------------------- until the earlier of the Effective Time or the termination of this Agreement, unless the prior written consent Consent of the other Party shall have been obtained, and except as otherwise expressly contemplated herein, each Party shall and shall cause each of its Subsidiaries to (a) operate its business only in the usual, regular, and ordinary course, (b) preserve intact its business organization and material Assets and maintain its rights and franchises, and (c) take no action which that would (i) materially adversely affect the ability of either Party to obtain any Consents required for the transactions contemplated hereby without imposition of a condition or restriction of the type referred to in the last sentences of Section 9.1(b) or 9.1(c), or (ii) materially adversely affect the ability of either Party to perform its covenants and agreements under this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Security Bank Corp)

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Conduct of Business Pending Consummation. 7.1 Affirmative Covenants of Each PartyXXXXX BANK. From the date of this Agreement ----------------------------------- until the earlier of the Effective Time or the termination of this Agreement, unless the prior written consent of the other Party FLAG shall have been obtained, and except as otherwise expressly contemplated herein, each Party shall XXXXX BANK shall, and shall cause each of its Subsidiaries to (a) operate its business only in the usual, regular, and ordinary course, (b) preserve intact its business organization and Assets and maintain its rights and franchises, and (c) take no action which would (i) materially adversely affect the ability of either any Party to obtain any Consents required for the transactions contemplated hereby without imposition of a condition or restriction of the type referred to in the last sentences of Section 9.1(b) or 9.1(c), or (ii) materially adversely affect the ability of either any Party to perform its covenants and agreements under this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Flag Financial Corp)

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