Common use of PURCHASE AND SALE OF CAPITAL SECURITIES Clause in Contracts

PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Independent Bank Corp)

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PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 25,000 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Princeton National Bancorp Inc)

PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 20,000 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Peoples Bancorp of North Carolina Inc)

PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 23,200 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Independent Bank Corp)

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PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 10,000 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle U.S. Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Northrim Bancorp Inc)

PURCHASE AND SALE OF CAPITAL SECURITIES. 1.1 Upon the execution of this Purchase Agreement, the Purchaser hereby agrees to purchase from the Trust 15,000 11,800 Capital Securities at a price equal to $1,000 per Capital Security (the "Purchase Price") and the Trust agrees to sell such number of Capital Securities with a liquidation amount of $1,000 per Capital Security to the Purchaser for the Purchase Price. The rights and preferences of the Capital Securities will be set forth in the Declaration in form and substance reasonably acceptable to the Purchaser. The Purchase Price is payable by the Purchaser on the Closing Date in immediately available funds to the account designated by LaSalle Bank National Association.

Appears in 1 contract

Samples: Capital Securities Purchase Agreement (Independent Bank Corp)

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