Common use of Fees Payable to KBW Clause in Contracts

Fees Payable to KBW. For the Services described above, the Company agrees to pay KBW a non-refundable cash fee of $25,000 (the “Services Fee”). Such fee is based upon the requirements of current banking regulations, the Company’s Plan of Conversion as currently contemplated, and the expectation that member data will be processed as of three key record dates. Any material changes in applicable regulations or the Plan of Conversion, or delays requiring duplicate or replacement processing due to changes to record dates, may result in additional fees not exceeding $10,000 payable to KBW. The Services Fee shall be payable as follows: (i) $10,000 shall be paid immediately upon the adoption of the Conversion by the Board of Directors, which shall be non-refundable and deemed to be earned in full when paid and (ii) all remaining amounts shall be payable immediately upon the completion of the Offerings.

Fees Payable to KBW. For the Services described above, the Company agrees to pay KBW a non-refundable cash fee of $25,000 (the “"Services Fee”"). Such fee is based upon the requirements of current banking regulations, the Company’s 's Plan of Conversion as currently contemplated, and the expectation that member data will be processed as of three key record dates. Any material changes in applicable regulations or the Plan of Conversion, or delays requiring duplicate or replacement processing due to changes to record dates, may result in additional fees not exceeding $10,000 payable to KBW. The Services Fee shall be payable as follows: (i) $10,000 5,000 shall be paid payable immediately upon the adoption execution of the Conversion by the Board of Directorsthis Agreement, which shall be non-refundable and deemed to be earned in full when paid and (ii) all remaining amounts shall be payable immediately upon the completion of the Offerings.

Fees Payable to KBW. For the Services described above, the Company agrees to pay KBW a non-refundable cash fee of $25,000 (the “Services Fee”). Such fee is based upon the requirements of current banking regulations, the Company’s Plan of Conversion as currently contemplated, and the expectation that member data will be processed as of three key record dates. Any material changes in applicable regulations or the Plan of Conversion, or delays requiring duplicate or replacement processing due to changes to record dates, may result in additional fees not exceeding $10,000 payable to KBW. The Services Fee shall be payable as follows: (i) $10,000 5,000 shall be paid payable immediately upon the adoption execution of the Conversion by the Board of Directorsthis Agreement, which shall be non-refundable and deemed to be earned in full when paid and (ii) all remaining amounts shall be payable immediately upon the completion of the Offerings.