Common use of No Economic Benefit Clause in Contracts

No Economic Benefit. Nothing contained in this Agreement shall be deemed to vest in Acquiror any direct or indirect ownership or incidence of ownership of or with respect to any of the Company Stock. All rights, ownership and economic benefits of and relating to the Company Stock shall remain and belong to the applicable stockholder and Acquiror shall have no power or authority to direct any stockholder in the voting of any of the Company Stock or the performance by any stockholder of its duties or responsibilities as a stockholder of the Company, except as otherwise provided herein. For the avoidance of doubt, this is a voting and support agreement only, and is not to be interpreted as a written consent to the Merger or as granting Acquiror a proxy to vote the Company Stock subject to this Agreement.

Appears in 6 contracts

Samples: Merger Agreement (HMN Financial Inc), Voting and Support Agreement (HMN Financial Inc), Merger Agreement (Alerus Financial Corp)

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No Economic Benefit. Nothing contained in this Agreement shall be deemed to vest in Acquiror Purchaser any direct or indirect ownership or incidence of ownership of or with respect to any of the Company Common Stock. All rights, ownership and economic benefits of and relating to the Company Common Stock shall remain and belong to the applicable stockholder shareholder and Acquiror Purchaser shall have no power or authority to direct any stockholder shareholder in the voting of any of the Company Common Stock or the performance by any stockholder shareholder of its duties or responsibilities as a stockholder shareholder of the Company, except as otherwise provided herein. For the avoidance of doubt, this is a voting and support agreement only, and is not to be interpreted as a written consent to the Merger or as granting Acquiror Purchaser a proxy to vote the Company Common Stock subject to this Agreement.

Appears in 2 contracts

Samples: Voting and Support Agreement (Wintrust Financial Corp), Voting and Support Agreement (Macatawa Bank Corp)

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No Economic Benefit. Nothing contained in this Agreement shall be deemed to vest in Acquiror the Company any direct or indirect ownership or incidence of ownership of or with respect to any of the Company Acquiror Stock. All rights, ownership and economic benefits of and relating to the Company Acquiror Stock shall remain and belong to the applicable stockholder and Acquiror the Company shall have no power or authority to direct any stockholder in the voting of any of the Company Acquiror Stock or the performance by any stockholder of its duties or responsibilities as a stockholder of the CompanyAcquiror, except as otherwise provided herein. For the avoidance of doubt, this is a voting and support agreement only, and is not to be interpreted as a written consent to the Merger or as granting Acquiror the Company a proxy to vote the Company Acquiror Stock subject to this Agreement.

Appears in 2 contracts

Samples: Merger Agreement (HMN Financial Inc), Voting and Support Agreement (HMN Financial Inc)

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