Common use of Effects of the Bank Merger Clause in Contracts

Effects of the Bank Merger. Immediately following the Effective Time of the Bank Merger: (a) the articles of incorporation of Buyer Sub as in effect immediately prior to the Effective Time shall be the articles of incorporation of the Surviving Bank Corporation; (b) the bylaws of Buyer Sub as in effect immediately prior to the Effective Time shall be the bylaws of the Surviving Bank Corporation; (c) subject to Section 6.07, the directors of Buyer Sub immediately prior to the Effective Time shall become the directors of the Surviving Bank Corporation, each of whom shall serve in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; (d) the officers of Buyer Sub immediately prior to the Effective Time and Xxxxx X. Xxxxxxxxx, pursuant to his new employment agreement as referred to in Section 6.02(b) of this Agreement, shall become the officers of the Surviving Bank Corporation, each to hold office in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; and (e) the Bank Merger shall have the effects prescribed in Section 31D-11-1107 of the WVBCA and Section 3-712 of the MFIC.

Effects of the Bank Merger. Immediately following the Effective Time of the Bank Merger: (a) the articles of incorporation of Buyer Sub as in effect immediately prior to the Effective Time shall be the articles of incorporation of the Surviving Bank Corporation; (b) the bylaws of Buyer Sub as in effect immediately prior to the Effective Time shall be the bylaws of the Surviving Bank Corporation; (c) subject to Section 6.07, the directors of Buyer Sub immediately prior to the Effective Time shall become the directors of the Surviving Bank Corporation, each of whom shall serve in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; (d) the officers of Buyer Sub immediately prior to the Effective Time and Xxxxx X. Xxxxxxxxx, pursuant to his new employment agreement as referred to in Section 6.02(b) of this Agreement, shall become the officers of the Surviving Bank Corporation, each to hold office in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; and (e) the Bank Merger shall have the effects prescribed in Section 31D-11-1107 of the WVBCA and Section 3271B.11-712 060 of the MFICKBCA.

Effects of the Bank Merger. Immediately following the Effective Time of the Bank Merger: (a) the articles of incorporation of Buyer Sub as in effect immediately prior to the Effective Time shall be the articles of incorporation of the Surviving Bank Corporation; (b) the bylaws of Buyer Sub as in effect immediately prior to the Effective Time shall be the bylaws of the Surviving Bank Corporation; (c) subject to Section 6.07, the directors of Buyer Sub immediately prior to the Effective Time shall become the directors of the Surviving Bank Corporation, each of whom shall serve in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; (d) the officers of Buyer Sub immediately prior to the Effective Time and Xxxxx X. Xxxxxxxxx, pursuant to his new employment agreement as referred to in Section 6.02(b) of this Agreement, shall become the officers of the Surviving Bank Corporation, each to hold office in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank Corporation; and (e) the Bank Merger shall have the effects prescribed in Section 31D-11-1107 of the WVBCA and Section 323-712 1-40-6 of the MFICIBCL.