Common use of Purchase and Sale of the Preferred Securities Clause in Contracts

Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% fee (the "Fee") to its introducing agent (the "Introducing Agent") for services rendered. The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses and (ii) any fee payable to the Company's Introducing Agent; provided that such Introducing Agent has an agreement with the Purchaser. The Purchaser shall not be responsible for any expenses set forth in Section 7 hereof unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.

Appears in 2 contracts

Samples: Purchase Agreement (First Litchfield Financial Corp), Purchase Agreement (First Litchfield Financial Corp)

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Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,0007,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% no fee (the "Fee") to its introducing agent (the "Introducing Agent") for services renderedrendered (the “Fee”). The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses expenses, and (ii) any fee the Fee payable to the Company's Introducing Agent; provided that such the Introducing Agent has an agreement with the Purchaser. The Purchaser ; but shall not be responsible for any fees and expenses set forth in Section 7 hereof hereof, unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.

Appears in 1 contract

Samples: Purchase Agreement (BNC Bancorp)

Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the PurchaserPurchasers, and the Purchaser agrees Purchasers agree to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,00025,000,000, as set forth in Schedule I hereto. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% no fee (the "Fee") to its introducing agent (the "Introducing Agent") for services rendered). The Purchaser Purchasers shall be responsible for the following expenses: (i) any rating agency costs and expenses expenses, and (ii) any fee payable to the Company's Introducing Agent; , provided that such the Introducing Agent has an agreement with the Purchaser. The Purchaser Purchasers (the "Fee"); but shall not be responsible for any fees and expenses set forth in Section 7 hereof hereof, unless otherwise provided therein. The Trust shall use the --------- Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.

Appears in 1 contract

Samples: Purchase Agreement (First Banks, Inc)

Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,00012,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% no fee (the "Fee") to its introducing agent (the "Introducing Agent") for services renderedrendered (the "Fee"). The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses expenses, and (ii) any fee the Fee payable to the Company's Introducing Agent; provided that such the Introducing Agent has an agreement with the Purchaser. The Purchaser ; but shall not be responsible for any fees and expenses set forth in Section 7 hereof hereof, unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.

Appears in 1 contract

Samples: Purchase Agreement (Temecula Valley Bancorp Inc)

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Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,00010,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% no fee (the "Fee") to its introducing agent (the "Introducing Agent") for services renderedrendered (the “Fee”). The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses expenses, and (ii) any fee the Fee payable to the Company's Introducing Agent; provided that such the Introducing Agent has an agreement with the Purchaser. The Purchaser ; but shall not be responsible for any fees and expenses set forth in Section 7 hereof hereof, unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.

Appears in 1 contract

Samples: Purchase Agreement (United Bancorporation of Alabama Inc)

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