Common use of OTHER ACTION AFFECTING OLD KENT COMMON STOCK Clause in Contracts

OTHER ACTION AFFECTING OLD KENT COMMON STOCK. If there occurs, other than as described in the preceding subsection, any merger, business combination, recapitalization, reclassification, subdivision, or combination that would substantially change the number and value of outstanding shares of Old Kent Common Stock; a distribu- tion of warrants or rights with respect to Old Kent Common Stock; or any other transaction that would have a substantially similar effect; then the nature or amount of the consideration to be received by the stockholders of CFSB in exchange for their shares of CFSB Common Stock and the Exchange Ratio shall be adjusted in such manner and at such time as shall be equitable under the circumstances. It is intended that in the event of a reclassification of outstanding shares of Old Kent Common Stock or a consolidation or merger of Old Kent with or into another corporation, other than a merger in which Old Kent is the surviving corporation and which merger does not result in any reclas- sification of Old Kent Common Stock, holders of CFSB Common Stock would receive, in lieu of each share of Old Kent Common Stock to be issued in exchange for CFSB Common Stock based on the Exchange Ratio, the kind and amount of shares of Old Xxxx xxxxx, other securities, money, and/or property receivable upon such reclassification, xxxxxxx- dation, or merger by holders of Old Kent Common Stock with respect to each share of Old Kent Common Stock outstanding immediately prior to such reclassification, consolidation, or merger.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (CFSB Bancorp Inc), Agreement and Plan of Merger (Old Kent Financial Corp /Mi/)

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OTHER ACTION AFFECTING OLD KENT COMMON STOCK. If there occurs, other than as described in the preceding subsection, any merger, business combination, recapitalization, reclassification, subdivision, or combination that would substantially change the number and value of outstanding shares of Old Kent Common Stock; a distribu- tion distribution of warrants or rights with respect to Old Kent Common Stock; or any other transaction that would have a substantially similar effect; then the nature or amount of the consideration to be received by the stockholders of CFSB First Evergreen in exchange for their shares of CFSB First Evergreen Common Stock and the Exchange Ratio shall be adjusted in such manner and at such time as shall be equitable under the circumstances. It is intended that in the event of a reclassification of outstanding shares of Old Kent Common Stock or a consolidation or merger of Old Kent with or into another corporation, other than a merger in which Old Kent is the surviving corporation and which merger does not result in any reclas- sification reclassification of Old Kent Common Stock, holders of CFSB First Evergreen Common Stock would receive, in lieu of each share of Old Kent Common Stock to be issued in exchange for CFSB First Evergreen Common Stock based on the Exchange Ratio, the kind and amount of shares of Old Xxxx xxxxx, other securities, money, and/or property receivable upon such reclassification, xxxxxxx- dationconsolidation, or merger by holders of Old Kent Common Stock with respect to each share of Old Kent Common Stock outstanding immediately prior to such reclassification, consolidation, or merger.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (First Evergreen Corp), Agreement and Plan of Merger (Old Kent Financial Corp /Mi/)

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OTHER ACTION AFFECTING OLD KENT COMMON STOCK. If there occurs, other than as described in the preceding subsection, any merger, business combination, recapitalization, reclassification, subdivision, or combination that would substantially change the number and value of outstanding shares of Old Kent Common Stock; a distribu- tion distribution of warrants or rights with respect to Old Kent Common Stock; or any other transaction that would have a substantially similar effect; then the nature or amount of the consideration to be received by the stockholders shareholders of CFSB Pinnacle in exchange for their shares of CFSB Pinnacle Common Stock and the Exchange Ratio shall be adjusted in such manner and at such time as shall be equitable under the circumstances. It is intended that in the event of a reclassification of outstanding shares of Old Kent Common Stock or a consolidation or merger of Old Kent with or into another corporation, other than a merger in which Old Kent is the surviving corporation and which merger does not result in any reclas- sification reclassification of Old Kent Common Stock, holders of CFSB Pinnacle Common Stock would receive, in lieu of each share of Old Kent Common Stock to be issued in exchange for CFSB Pinnacle Common Stock based on the Exchange Ratio, the kind and amount of shares of Old Xxxx xxxxx, other securities, money, and/or property receivable upon such reclassification, xxxxxxx- dationconsolidation, or merger by holders of Old Kent Common Stock with respect to each share of Old Kent Common Stock outstanding immediately prior to such reclassification, consolidation, or merger.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Old Kent Financial Corp /Mi/)

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