Common use of Limitation on Beneficial Ownership Clause in Contracts

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock issued and outstanding.

Appears in 6 contracts

Samples: Securities Purchase Agreement (Berkshire Hills Bancorp Inc), Securities Purchase Agreement (Wesbanco Inc), Securities Purchase Agreement (Southern First Bancshares Inc)

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Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will shall be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) at the Closing of more than nine point nine percent (9.9% %) of the number of shares of Common Stock the Company’s voting securities issued and outstanding.

Appears in 5 contracts

Samples: Securities Purchase Agreement (Bancorp 34, Inc.), Securities Purchase Agreement (Republic First Bancorp Inc), Securities Purchase Agreement (Republic First Bancorp Inc)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock the Company’s voting securities issued and outstanding.

Appears in 3 contracts

Samples: Stock Purchase Agreement (HCSB Financial Corp), Stock Purchase Agreement (RMB Capital Management, LLC), Stock Purchase Agreement (Bank of the Carolinas CORP)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Preferred Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock issued and outstanding.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Oriental Financial Group Inc), Securities Purchase Agreement (Oriental Financial Group Inc)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock issued and outstandingoutstanding (based on the number of outstanding shares as of the Closing Date).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Bankwell Financial Group, Inc.), Securities Purchase Agreement (Fidelity Southern Corp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Preferred Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock issued and outstandingoutstanding (based on the number of outstanding shares as of the Closing Date), if converted at the initial conversion price of $1.50.

Appears in 1 contract

Samples: Securities Purchase Agreement (North Valley Bancorp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than the greater of 9.9% (or 4.9% if such Purchaser is a bank holding company) of the number of shares of Common Stock issued and outstandingoutstanding or any greater limit provided by the Federal Reserve applicable to such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Firstsun Capital Bancorp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares Securities that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than the greater of 9.9% of the number of shares of Common Stock issued and outstandingoutstanding or any greater limit provided by the Federal Reserve applicable to such Purchaser.

Appears in 1 contract

Samples: Upfront Securities Purchase Agreement (Firstsun Capital Bancorp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock the Company's voting securities issued and outstanding.

Appears in 1 contract

Samples: Stock Purchase Agreement (Trinity Capital Corp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will shall be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) at the Closing (and with respect to Castle Creek, after giving effect to the Secondary Acquisition) of more than nine point nine percent (9.9% %) of the number of shares of Common Stock the Company’s voting securities issued and outstanding.

Appears in 1 contract

Samples: Securities Purchase Agreement (Pathfinder Bancorp, Inc.)

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Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Preferred Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than (i) 9.9% of the number of shares of Voting Common Stock issued and outstandingoutstanding or (ii) 24.9% of the total equity of the Company.

Appears in 1 contract

Samples: Securities Purchase Agreement (BNC Bancorp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Class A Common Stock issued and outstandingoutstanding (based on the number of outstanding shares as of the Closing Date).

Appears in 1 contract

Samples: Securities Purchase Agreement (Royal Bancshares of Pennsylvania Inc)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Preferred Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.99.0% of the number of shares of Common Stock issued and outstandingoutstanding (based on the number of outstanding shares as of December 24, 2009), if converted at the initial conversion price of $3.75.

Appears in 1 contract

Samples: Securities Purchase Agreement (Center Financial Corp)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Preferred Shares that that, upon conversion into the Underlying Shares, would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock the Company’s voting securities issued and outstanding.

Appears in 1 contract

Samples: Securities Purchase Agreement (Carolina Bank Holdings Inc)

Limitation on Beneficial Ownership. No Purchaser (and its Affiliates or any other Persons with which it is acting in concert) will be entitled to purchase a number of Common Shares that would result in such Purchaser becoming, directly or indirectly, the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.9% of the number of shares of Common Stock issued and outstanding.

Appears in 1 contract

Samples: Securities Purchase Agreement (Citizens South Banking Corp)

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