Common use of Mixed Election Clause in Contracts

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect Common Stock immediately prior to the Effective Date shall be entitled to elect to receive shares of CMTY Common Stock for a portion of such holder’s shares of East Prospect Common Stock and cash for the remaining portion of such holder’s shares of East Prospect Common Stock (the “Mixed Election”). With respect to each holder of East Prospect Common Stock who makes a Mixed Election, the shares of East Prospect Common Stock that such holder elects to be converted into the right to receive the Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Community Banks Inc /Pa/)

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Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect MDBC Common Stock immediately prior to the Effective Closing Date shall be entitled to elect to receive shares of CMTY the Common Stock Consideration for a portion of such holder’s shares of East Prospect MDBC Common Stock and cash the Cash Consideration for the remaining portion of such holder’s shares of East Prospect MDBC Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect MDBC Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.2(e) below, the shares of East Prospect MDBC Common Stock that such holder elects to be converted into the right to receive the Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Old Line Bancshares Inc)

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect Scottdale Common Stock immediately prior to the Effective Date Election Deadline shall be entitled to elect to receive shares of CMTY the Per Share Common Stock Consideration for a portion of such holder’s shares of East Prospect Scottdale Common Stock and cash the Per Share Cash Consideration for the remaining portion of such holder’s shares of East Prospect Scottdale Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect Scottdale Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 3.2(e) below, the shares of East Prospect Scottdale Common Stock that such holder elects to be converted into the right to receive the Per Share Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Per Share Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Mid Penn Bancorp Inc)

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect RBI Common Stock immediately prior to the Effective Date Election Deadline shall be entitled to elect to receive shares of CMTY the Per Share Common Stock Consideration for a portion of such holder’s shares of East Prospect RBI Common Stock and cash the Per Share Cash Consideration for the remaining portion of such holder’s shares of East Prospect RBI Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect RBI Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.5(e) below, the shares of East Prospect RBI Common Stock that such holder elects to be converted into the right to receive the Per Share Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Per Share Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Old Line Bancshares Inc)

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect Holdings Common Stock immediately prior to the Effective Closing Date shall be entitled to elect to receive shares of CMTY the Per Share Common Stock Consideration for a portion of such holder’s shares of East Prospect Holdings Common Stock and cash the Per Share Cash Consideration for the remaining portion of such holder’s shares of East Prospect Holdings Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect Holdings Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section ­2.5(e) below, the shares of East Prospect Holdings Common Stock that such holder elects to be converted into the right to receive the Per Share Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Per Share Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Old Line Bancshares Inc)

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Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect Holdings Common Stock immediately prior to the Effective Closing Date shall be entitled to elect to receive shares of CMTY the Per Share Common Stock Consideration for a portion of such holder’s shares of East Prospect Holdings Common Stock and cash the Per Share Cash Consideration for the remaining portion of such holder’s shares of East Prospect Holdings Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect Holdings Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.5(e) below, the shares of East Prospect Holdings Common Stock that such holder elects to be converted into the right to receive the Per Share Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Per Share Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (WSB Holdings Inc)

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect PBI Common Stock immediately prior to the Effective Date Election Deadline shall be entitled to elect to receive shares of CMTY the Per Share Common Stock Consideration for a portion of such holder’s shares of East Prospect PBI Common Stock and cash the Per Share Cash Consideration for the remaining portion of such holder’s shares of East Prospect PBI Common Stock (the a “Mixed Election”). With respect to each holder of East Prospect PBI Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.5(e) below, the shares of East Prospect PBI Common Stock that such holder elects to be converted into the right to receive the Per Share Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Per Share Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (Howard Bancorp Inc)

Mixed Election. Subject to the immediately following sentence, each record holder of shares of East Prospect FNB Common Stock immediately prior to the Effective Date shall be entitled to elect to receive shares of CMTY Tower Common Stock for a portion of such holder’s shares of East Prospect FNB Common Stock and cash for the remaining portion of such holder’s shares of East Prospect FNB Common Stock (the “Mixed Election”). With respect to each holder of East Prospect FNB Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.02(e) below, the shares of East Prospect FNB Common Stock that such holder elects to be converted into the right to receive the Common Stock Consideration shall be treated as Common Stock Election Shares and the shares such holder elects to be converted into the right to receive the Cash Consideration shall be treated as Cash Election Shares.

Appears in 1 contract

Samples: Merger Agreement (FNB Financial Corp /Pa/)

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