EFFECT OF CONSOLIDATION. At the effective date of the Consolidation (the “Consolidation Date”), the corporate existence of Consolidating Banks shall be merged with and into and continue in the Resulting Bank, possessing all the rights, interests, privileges, power and franchises and being subject to all the restrictions, disabilities and duties of each of the Consolidating Banks; and all the rights, interests, privileges and franchises of each of the Consolidating Banks and all property, real, personal and mixed, and all debts due to the Consolidating Banks on whatever account, shall be transferred to and vested in the Resulting Bank without any deed or other transfer and without any order or other action on the part of any court or otherwise; and all property, rights, privileges, powers, franchises and interests and each and every other interest shall be thereafter as effectually the property of the Resulting Bank as they were of the Consolidating Banks prior to the Consolidation. The title to any real estate, whether by deed or otherwise, vested in any of the Consolidating Banks shall not revert or be in any way impaired by reason of the Consolidation. The Resulting Bank, by virtue of the Consolidation, and without any order or other action on the part of any court or otherwise, shall hold and enjoy the same and all rights of property, franchises and interests, including appointments, designations and nominations and all other rights and interests as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises and interests were held or enjoyed by the Consolidating Banks at the Consolidation Date.
EFFECT OF CONSOLIDATION. On the Effective Date, the corporate existence of Empire Bank shall, as provided by Law, be consolidated into and continued in Sterling Savings Bank, and Sterling Savings Bank shall be deemed to be a continuation in entity and identity of Empire Bank. All rights, franchises and interests of Empire Bank in and to any type of property and choses in action shall be transferred to and vested in Sterling Savings Bank by virtue of such Consolidation without any deed or other transfer. Sterling Savings Bank, without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises and interest, including appointments, designations and nominations, and all other rights and interests as trustee, executor, administrator, transfer agent or registrar of stocks and bonds, guardian of estates, assignee, receiver and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by Empire Bank as of the Effective Date.
EFFECT OF CONSOLIDATION. If the Consolidation has occurred prior to the time of delivery by the Exchange Agent of the Merger Consideration to any holders of the Company Shares, the aggregate Merger Consideration to be delivered by the Exchange Agent to each former holder of Company Common Stock shall be adjusted appropriately to reflect the effect of the Consolidation.
EFFECT OF CONSOLIDATION. As of the Effective Time, CAFC shall have all the rights, privileges, immunities and powers and shall be subject to all the duties and liabilities of a cooperative corporation organized under the Minnesota Cooperative Law. Except as otherwise expressly provided herein,
EFFECT OF CONSOLIDATION. As of the Effective Time, CAFC shall have all the rights, privileges, immunities and powers and shall be subject to all the duties and liabilities of a cooperative corporation organized under the Minnesota Cooperative Law. Except as otherwise expressly provided herein, (a) CAFC shall thereupon and thereafter be responsible for all of the obligations of each of the Constituent Cooperatives and possess (i) all the rights, privileges, immunities, powers and franchises, public and private, of the Constituent Cooperatives; (ii) all real or personal property; (iii) all debts and other obligations owed to each of the Constituent Cooperatives, including debts arising from a subscription for membership; and (iv) all other rights or interests belonging to any of the Constituent Cooperatives; (b) all of the foregoing shall be transferred to CAFC without further act or deed; and
EFFECT OF CONSOLIDATION. Reduction within a Classification, or Elimination of Classifications If employees are displaced by the consolidation of classifications (combining the duties of two or more classifications and/or parts of two or more classifications), the reduction within a classification, the elimination of classifications, the installation of new equipment, methods, or facilities, or for any other reason, any employee(s) with greater seniority shall have placement rights over any employee(s) with less seniority within that classification. The affected employee(s) with the lowest seniority shall have the right to transfer to any existing bargaining unit vacancy which the District is seeking to fill if it is determined that they have the necessary skills, abilities, and qualifications for such vacancy. If there are no such vacancies, the employee shall be laid off in accordance with the provisions of Section 8.3 above and shall have the right to recall in accordance with the provisions of Section 8.4 above. If two or more employees are displaced at the same time and they seek to transfer to the same vacancy, which the District is seeking to fill, seniority shall govern if they are determined to have the current ability and basic qualifications to perform the work in the position in question.
EFFECT OF CONSOLIDATION. On the Effective Date of the Consolidation, the corporate existence of Texas National and New Bank shall be consolidated into and continued in the Surviving Bank, and the Surviving Bank shall be deemed to be a continuation in entity and identity of Texas National and New Bank. All rights, franchises and interests of Texas National and New Bank, respectively, in and to any type of property and chooses in action shall be transferred to and vested in the Surviving Bank by virtue of the Consolidation without any deed or other transfer. Surviving Bank, without any order or other action on the part of any court or otherwise, shall hold and enjoy all rights of property, franchises and interest, including appointments, designations and nominations, and all other rights and interests as trustee, executor, administrator, transfer agent or registrar of stocks and bonds, guardian of estates, assignee, receiver and committee of estates and lunatics, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises and interests were held or enjoyed by Texas National and New Bank, respectively, as of the Effective Date.
EFFECT OF CONSOLIDATION. At the effective date of the consolidation, the corporate existence of the Bank and the Interim Bank shall be merged into and continued in the Consolidated Bank, and the Consolidated Bank shall be deemed to be the same corporation as each of the consolidating banks, possessing all the rights, powers and franchises, and being subject to all of the restrictions, disabilities and duties of each of the consolidating banks, and all of the rights, privileges and franchises of each bank, and all property, and all debts due to either of said consolidating banks shall be deemed to be transferred to and vested in the Consolidated Bank without any further act or deed or any other transfer, and the Consolidated Bank, by virtue of the consolidation and without any further action on the part of any court or otherwise, shall hold and enjoy all of the rights, interests and appointments, designations and nominations as trustee, executor, administrator and other fiduciary appointment, in the same manner and to the same extent as such rights, interests and appointments were held or enjoyed by the consolidating banks at the time of the consolidation.
EFFECT OF CONSOLIDATION. On the Effective Date, the corporate existence of each of the Bank and New Bank will be merged into and continued in the Consolidated Association. The Consolidated Association will be deemed to be the same corporation as each of the Bank and New Bank. All rights, franchises and interests of each of the Bank and New Bank in and to every type of property (real, personal and mixed) and choses in action will be transferred to and vested in the Consolidated Association by virtue the Consolidation without any deed or other transfer. The Consolidated Association, upon the Effective Date and without any order or other action on the part of any court or otherwise, will hold and enjoy all rights of property, franchises, and interests in the same manner and to the same extent as such rights, franchises and interests were held or enjoyed by each of the Bank and New Bank immediately prior to the Effective Date, subject to the conditions of 12 USC Sections 215(a) through 215(g).
EFFECT OF CONSOLIDATION. At the Effective Time, the corporate existence of MSB and New Bank shall be merged into and continue in the Consolidated Bank, which shall be deemed to be the same corporation as each of the consolidating banks, possessing all the rights, interests, privileges, powers and franchises and being subject to all the restrictions, disabilities, obligations, liabilities and duties of each of the consolidating banks. All rights, interests, privileges and franchises of each of the consolidating banks and all property, real, personal and mixed, and all debts and obligations owing by or due to either of the consolidating banks on whatever account,
