Common use of Purchase Mechanism Clause in Contracts

Purchase Mechanism. If a Purchaser exercises its rights provided in this Section 3.11, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty (60) days after the giving of notice of such exercise, provided that, if such issuance is subject to regulatory approval, such sixty (60)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) days from the date of the Company’s initial notice pursuant to Section 3.11(b). Each of the Company and the Purchasers agrees to use its commercially reasonable efforts to secure any regulatory or stockholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, such New Securities.

Appears in 6 contracts

Samples: Securities Purchase Agreement (Hampton Roads Bankshares Inc), Securities Purchase Agreement (Hampton Roads Bankshares Inc), Securities Purchase Agreement (Hampton Roads Bankshares Inc)

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Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.8, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty thirty (6030) days after the giving of notice of such exercise, ; provided that, if such issuance is subject to regulatory approval, such sixty thirty (60)-day 30)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 90 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.8(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, of such New Securities.

Appears in 5 contracts

Samples: Investment Agreement (Central Pacific Financial Corp), Investment Agreement (Central Pacific Financial Corp), Investment Agreement (Anchorage Capital Group, L.L.C.)

Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.8, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty (60) days after the giving of notice of such exercise, provided that, if such issuance is subject to regulatory approval, such sixty (60)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 180 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.8(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, such New Securities.

Appears in 4 contracts

Samples: Securities Purchase Agreement (Highlands Bankshares Inc /Va/), Securities Purchase Agreement (Highlands Bankshares Inc /Va/), Securities Purchase Agreement (Highlands Bankshares Inc /Va/)

Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.4, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty thirty (6030) days after the giving of notice of such exercise, ; provided that, if such issuance is subject to regulatory approval, such sixty thirty (60)-day 30)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 90 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.4(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, of such New Securities.

Appears in 3 contracts

Samples: Subscription Agreement, Subscription Agreement (FNB United Corp.), Subscription Agreement (FNB United Corp.)

Purchase Mechanism. If a Purchaser exercises its rights provided in this Section 3.11, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty (60) days after the giving of notice of such exercise, provided that, if such issuance is subject to regulatory approval, such sixty (60)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) days from the date of the Company’s initial notice pursuant to Section 3.11(b). Each of the Company and the Purchasers agrees agree to use its their commercially reasonable efforts to secure any regulatory or stockholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, such New Securities.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Hampton Roads Bankshares Inc), Securities Purchase Agreement (Hampton Roads Bankshares Inc)

Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.9, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty thirty (6030) days after the giving of notice of such exercise, ; provided that, if such issuance is subject to regulatory approval, such sixty thirty (60)-day 30)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 90 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.9(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, of such New Securities.

Appears in 2 contracts

Samples: Investment Agreement (FNB United Corp.), Investment Agreement (FNB United Corp.)

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Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.8, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty (60) days after the giving of notice of such exercise, provided that, if such issuance is subject to regulatory approval, such sixty (60)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 120 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.8(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, such New Securities.

Appears in 1 contract

Samples: Investment Agreement (First Federal Bancshares of Arkansas Inc)

Purchase Mechanism. If a Purchaser the Investor exercises its rights provided in this Section 3.113.5, the closing of the purchase of the New Securities with respect to which such right has been exercised shall take place within sixty thirty (6030) days after the giving of notice of such exercise, ; provided that, if such issuance is subject to regulatory approval, such sixty thirty (60)-day 30)-day period shall be extended until the expiration of ten (10) Business Days after all such approvals have been received, but in no event later than one-hundred-twenty (120) 90 days from the date of the Company’s initial notice pursuant to Section 3.11(b3.5(b). Each of the Company and the Purchasers Investor agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law necessary in connection with the offer, sale and purchase of, of such New Securities.

Appears in 1 contract

Samples: Subscription Agreement (Central Pacific Financial Corp)

Purchase Mechanism. If a the Purchaser exercises its rights provided in this Section 3.114.19(a), the closing of the purchase of the New Securities with respect to which such right has rights have been exercised shall take place within sixty (60) 30 days after the giving of notice of such exercise, ; provided that, if such issuance is subject to shareholder or regulatory approvalapproval or other consents, such sixty (60)-day 30 day period shall be extended until the expiration of ten (10) Business Days after all such approvals or other consents have been received, but in no event later than one-hundred-twenty (120) 90 days from the date of the Company’s initial notice pursuant to Section 3.11(b4.19(b). Each of the Company and the Purchasers Purchaser agrees to use its commercially reasonable efforts to secure any regulatory or stockholder shareholder approvals or other consents, and to comply with any Law law necessary in connection with the offer, sale and purchase of, of such New Securities.

Appears in 1 contract

Samples: Securities Purchase Agreement (Newbridge Bancorp)

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