Redemption by the Corporation. The Series B Preferred Stock shall not be redeemable by the Corporation. In all events, any repurchase or redemption of Series B Preferred Stock shall be subject to the prior approval of the Corporation’s primary federal banking regulator, if required by applicable law or regulation or if such approval is a requirement to the Series B Preferred Stock being classified as Tier 1 capital (or the equivalent) for bank regulatory purposes, together with any other required regulatory approvals.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Blue Ridge Bankshares, Inc.), Investment Agreement (Seacoast Banking Corp of Florida)
Redemption by the Corporation. The Series B A Preferred Stock shall not be redeemable by the Corporation. In all events, any repurchase or redemption of Series B A Preferred Stock shall be subject to the prior approval of the Corporation’s primary federal banking regulator, if required by applicable law or regulation or if such approval is a requirement to the Series B A Preferred Stock being classified as Tier 1 capital (or the equivalent) for bank regulatory purposes, together with any other required regulatory approvals.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Jacksonville Bancorp Inc /Fl/), Securities Purchase Agreement (Cordia Bancorp Inc)
Redemption by the Corporation. The Series B C Preferred Stock shall not be redeemable by the Corporation. In all events, any repurchase or redemption of Series B C Preferred Stock shall be subject to the prior approval of the Corporation’s primary federal banking regulator, if required by applicable law or regulation or if such approval is a requirement to the Series B C Preferred Stock being classified as Tier 1 capital (or the equivalent) for bank regulatory purposes, together with any other required regulatory approvals.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Blue Ridge Bankshares, Inc.), Investment Agreement (Seacoast Banking Corp of Florida)
