Common use of Failure to Recommend; Third-Party Acquisition Transaction; Etc Clause in Contracts

Failure to Recommend; Third-Party Acquisition Transaction; Etc. At any time prior to the Company Meeting, by Buyer if (i) Company shall have materially breached its obligations under Section 5.09, (ii) the board of directors of Company shall have failed to make its recommendation referred to in Section 5.04 or made a Change in Recommendation, whether or not permitted by Section 5.09, (iii) the board of directors of Company shall have recommended, proposed, or publicly announced its intention to recommend or propose, to engage in an Acquisition Transaction with any Person other than Buyer or a Subsidiary or Affiliate of Buyer, whether or not permitted by Section 5.09, (iv) a tender or exchange offer for 20% or more of the outstanding shares of Company Common Stock is commenced and the board of directors of Company shall have failed to publicly recommend against such tender or exchange offer within five (5) Business Days of being requested to do so by Buyer, or (v) Company shall have materially breached its obligations under Section 5.04 by failing to call, give notice of, convene, and hold the Company Meeting in accordance with Section 5.04.

Appears in 3 contracts

Samples: Merger Agreement (Independent Bank Corp), Merger Agreement (Independent Bank Corp), Merger Agreement (Independent Bank Corp)

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Failure to Recommend; Third-Party Acquisition Transaction; Etc. At any time prior to the Company Meeting, by Buyer if (i) Company shall have materially breached its obligations under Section 5.09, (ii) the board of directors of Company shall have failed to make its recommendation referred to in Section 5.04 or made withdrawn such recommendation or modified or changed such recommendation in a Change manner adverse in Recommendationany respect to the interests of Buyer, whether or not permitted by Section 5.09, (iii) the board of directors of Company shall have recommended, proposed, or publicly announced its intention to recommend or propose, to engage in an Acquisition Transaction with any Person other than Buyer or a Subsidiary or Affiliate of Buyer, whether or not permitted by Section 5.09, (iv) a tender or exchange offer for 20% or more of the outstanding shares of Company Common Stock is commenced and the board of directors of Company shall have failed to publicly recommend against such tender or exchange offer a publicly announced Acquisition Proposal within five (5) Business Days of being requested to do so by Buyer, or (v) Company shall have materially breached its obligations under Section 5.04 by failing to call, give notice of, convene, convene and hold the Company Meeting in accordance with Section 5.04.

Appears in 2 contracts

Samples: Merger Agreement (Peoples Federal Bancshares, Inc.), Merger Agreement (Independent Bank Corp)

Failure to Recommend; Third-Party Acquisition Transaction; Etc. At any time prior to the Company MeetingBy Buyer, by Buyer if (i) Company Seller shall have materially breached its obligations under Section 5.09, 6.03; (ii) the board of directors of Company Seller Board shall have failed to make its recommendation referred to in Section 5.04 6.05, withdrawn such recommendation or made modified or changed such recommendation in a Change manner adverse in Recommendation, whether or not permitted by Section 5.09, any respect to the interests of Buyer; (iii) the board of directors of Company Seller Board shall have recommended, proposed, or publicly announced its intention to recommend or propose, to engage in an Acquisition Transaction with any Person other than Buyer or a Subsidiary or Affiliate of Buyer, whether ; or not permitted by Section 5.09, (iv) a tender or exchange offer for 20% or more of the outstanding shares of Company Common Stock is commenced and the board of directors of Company shall have failed to publicly recommend against such tender or exchange offer within five (5) Business Days of being requested to do so by Buyer, or (v) Company Seller shall have materially breached its obligations under Section 5.04 6.05 by failing to call, give notice of, convene, convene and hold the Company Seller Meeting in accordance with Section 5.046.05.

Appears in 1 contract

Samples: Merger Agreement (Community Bancorp /Vt)

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Failure to Recommend; Third-Party Acquisition Transaction; Etc. At any time prior to the Company Meeting, by Buyer if (i) Company shall have materially breached its obligations under Section 5.09, (ii) the board of directors of Company shall have failed to make its recommendation referred to in Section 5.04 or made a Change in Recommendation, whether or not permitted by Section 5.09, (iii) the board of directors of Company shall have recommended, proposed, or publicly announced its intention to recommend or propose, to engage in an Acquisition Transaction with any Person other than Buyer or a Subsidiary or Affiliate of Buyer, whether or not permitted by Section 5.09, (iv) a tender or exchange offer for 20% or more of the outstanding shares of Company Common Stock is commenced and the board of directors of Company shall have failed to publicly recommend against such tender or exchange offer within five (5) Business Days of being requested to do so by Buyer, or (v) Company shall have materially breached its obligations under Section 5.04 by failing to call, give notice of, convene, convene and hold the Company Meeting in accordance with Section 5.04.

Appears in 1 contract

Samples: Merger Agreement (Independent Bank Corp)

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