Common use of Minimum Transfers Clause in Contracts

Minimum Transfers. Series A Capital Securities and, when issued, Series B Capital Securities may only be transferred in minimum blocks of $100,000 aggregate liquidation amount. Any transfer of Series A Capital Securities or Series B Capital Securities in a block having an aggregate liquidation amount of less than $100,000 shall be deemed to be voided and of no legal effect whatsoever. Any such transferee shall be deemed not to be a Holder of such Series A or Series B Capital Securities for any purpose, including, but not limited to, the receipt of Distributions on such Capital Securities, and such transferee shall be deemed to have no interest whatsoever in such Capital Securities.

Appears in 2 contracts

Samples: Mainstreet Bankgroup Inc, Progress Capital Trust I

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Minimum Transfers. Series A Capital Securities and, if and ----------------- when issued, Series B Capital Securities may only be transferred in minimum blocks of $100,000 aggregate liquidation amountamount (100 Capital Securities) and multiples of $1,000 in excess thereof. Any attempted transfer of Series A Capital Securities or Series B Capital Securities in a block having an aggregate liquidation amount of less than $100,000 shall be deemed to be voided and of no legal effect whatsoever. Any such purported transferee shall be deemed not to be a Holder of such Series A Capital Securities or Series B Capital Securities for any purpose, including, but not limited to, the receipt of Distributions on such Capital Securities, and such purported transferee shall be deemed to have no interest whatsoever in such Capital Securities.

Appears in 1 contract

Samples: Trust Agreement (Greater Bay Bancorp)

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Minimum Transfers. Series A Capital Securities and, if and when issued, Series B Capital Securities may only be transferred in minimum blocks of $100,000 aggregate liquidation amountamount (100 Capital Securities) and multiples of $1,000 in excess thereof. Any attempted transfer of Series A Capital Securities or Series B Capital Securities in a block having an aggregate liquidation amount of less than $100,000 shall be deemed to be voided and of no legal effect whatsoever. Any such purported transferee shall be deemed not to be a Holder of such Series A Capital Securities or Series B Capital Securities for any purpose, including, but not limited to, the receipt of Distributions on such Capital Securities, and such purported transferee shall be deemed to have no interest whatsoever in such Capital Securities.

Appears in 1 contract

Samples: Trust Agreement (CNBF Capital Trust I)

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