Dissenters. Any shareholder of SFC who properly exercises the right of dissent and appraisal with respect to the Merger as provided in Chapter 13 of the South Carolina Business Corporation Act of 1988 (“Dissenters’ Rights”), shall be entitled to receive payment of the fair value of his or her shares of SFC Stock in the manner and pursuant to the procedures provided therein. Shares of SFC Stock held by persons who exercise Dissenters’ Rights shall not be converted as described in Paragraph 5(a). However, if any shareholder of SFC who exercises Dissenters’ Rights shall fail to perfect those rights, or effectively shall waive or lose such rights, then each of his or her shares of SFC Stock shall be deemed to have been converted into the right to receive cash as of the Effective Time as provided in Paragraph 5(a) hereof.
Appears in 2 contracts
Samples: Merger Agreement, Agreement and Plan of Reorganization and Merger (Summit Financial Corp)
Dissenters. Any shareholder of SFC who properly exercises the right of dissent and appraisal with respect to the Merger as provided in Chapter 13 of the South Carolina Business Corporation Act of 1988 (“Dissenters’ Rights”), Rights shall be entitled to receive payment of the fair value of his or her shares of SFC Stock in the manner and pursuant to the procedures provided thereinin Chapter 13 of the South Carolina Business Corporation Act of 1988. Shares of SFC Stock held by persons who exercise Dissenters’ Rights shall not be converted as described in Paragraph 5(a2.04(a). However, if any shareholder of SFC who exercises Dissenters’ Rights shall fail to perfect those rights, or effectively shall waive or lose such rights, then each of his or her shares of SFC Stock shall be deemed to have been converted into the right to receive cash as of the Effective Time as provided in Paragraph 5(a2.04(a) hereof.. (f)
Appears in 1 contract
Samples: Merger Agreement
Dissenters. Any shareholder of SFC PCCC who properly exercises the right of dissent and appraisal with respect to the Merger as provided in Chapter 13 of the South Carolina Business Corporation Act of 1988 (“Dissenters’ Dissenter’s Rights”), shall be entitled to receive payment of the fair value of his or her shares of SFC PCCC Stock in the manner and pursuant to the procedures provided therein. Shares of SFC PCCC Stock held by persons who exercise Dissenters’ Dissenter’s Rights shall not be converted as described in Paragraph 5(a). However, if any shareholder of SFC PCCC who exercises Dissenters’ Dissenter’s Rights shall fail to perfect those rights, or effectively shall waive or lose such rights, then each of his or her shares of SFC Stock PCCC Stock, at FCB’s sole option, shall be deemed to have been converted into the right to receive cash as of the Effective Time as provided in Paragraph 5(a) hereof.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization and Merger (Peoples Community Capital Corp)
Dissenters. Any shareholder of SFC PCCC who properly exercises the right of dissent and appraisal with respect to the Merger as provided in Chapter 13 of the South Carolina Business Corporation Act of 1988 (“Dissenters’ Dissenter’s Rights”), ) shall be entitled to receive payment of the fair value of his or her shares of SFC PCCC Stock in the manner and pursuant to the procedures provided therein. Shares of SFC PCCC Stock held by persons who exercise Dissenters’ Dissenter’s Rights shall not be converted as described in Paragraph 5(a1.04(a). However, if any shareholder of SFC PCCC who exercises Dissenters’ Dissenter’s Rights shall fail to perfect those rights, or effectively shall waive or lose such rights, then each of his or her shares of SFC Stock PCCC Stock, at FCB’s sole option, shall be deemed to have been converted into the right to receive cash as of the Effective Time as provided in Paragraph 5(a1.04(a) hereof.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization and Merger (Peoples Community Capital Corp)
Dissenters. Any shareholder of SFC who properly exercises the right of dissent and appraisal with respect to the Merger as provided in Chapter 13 of the South Carolina Business Corporation Act of 1988 (“Dissenters’ Rights”), Rights shall be entitled to receive payment of the fair value of his or her shares of SFC Stock in the manner and pursuant to the procedures provided thereinin Chapter 13 of the South Carolina Business Corporation Act of 1988. Shares of SFC Stock held by persons who exercise Dissenters’ Rights shall not be converted as described in Paragraph 5(a2.04(a). However, if any shareholder of SFC who exercises Dissenters’ Rights shall fail to perfect those rights, or effectively shall waive or lose such rights, then each of his or her shares of SFC Stock shall be deemed to have been converted into the right to receive cash as of the Effective Time as provided in Paragraph 5(a2.04(a) hereof.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization and Merger (Summit Financial Corp)