Common use of Repurchase of Warrants Clause in Contracts

Repurchase of Warrants. (a) Prior to the occurrence of an Acquisition Event, BOH shall have no right to repurchase the Warrants and PCBG shall have no right to require BOH to repurchase the Warrants. (b) At any time after the occurrence of an Acquisition Event, BOH shall have the right to purchase (or to cause a person designated by BOH to purchase), and PCBG shall have the right to require that BOH repurchase (or, if BOH shall so elect, cause a person designated by BOH to purchase), (i) all (but not fewer than all) the Warrants at the time beneficially owned by PCBG and its Affiliates at the Warrant Call Price in effect for such Warrants on the date of closing (as provided below) and (ii) all (but not fewer than all) of the shares of Common Stock purchased by PCBG and its Affiliates pursuant to this Agreement with respect to which PCBG has beneficial ownership at a price equal to the aggregate Market Value for such shares as of the date of closing (as provided below). Any purchase pursuant hereto shall take place on a Business Day specified in a notice given by BOH to PCBG or by PCBG to BOH, as the case may be (but in no event prior to the 30th day following the date of any such notice to PCBG or later than the 30th day following the date of any such notice to BOH). (c) The closing of any repurchase of Warrants pursuant to this Section 2.1 shall take place at 10:00 a.

Appears in 1 contract

Samples: Warrant Purchase Agreement (Pacific Community Banking Group)

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Repurchase of Warrants. (a) Prior to the occurrence of an Acquisition Event, BOH CU shall have no right to repurchase the Warrants and PCBG Home shall have no right to require BOH CU to repurchase the Warrants. (b) At any time after the occurrence of an Acquisition Event, BOH CU shall have the right to purchase (or to cause a person designated by BOH CU to purchase), and PCBG Home shall have the right to require that BOH CU repurchase (or, if BOH CU shall so elect, cause a person designated by BOH CU to purchase), (i) all (but not fewer than all) the Warrants at the time beneficially owned by PCBG Home and its Affiliates at the Warrant Call Price in effect for such Warrants on the date of closing (as provided below) and (ii) all (but not fewer than all) of the shares of Common Stock purchased by PCBG Home and its Affiliates pursuant to this Agreement with respect to which PCBG Home has beneficial ownership at a price equal to the aggregate Market Value market value for such shares as of the date of closing (as provided below). Any purchase pursuant hereto shall take place on a Business Day specified in a notice given by BOH CU to PCBG Home or by PCBG Home to BOHCU, as the case may be (but in no event prior to the 30th day following the date of any such notice to PCBG Home or later than the 30th day following the date of any such notice to BOHCU). (c) The closing of any repurchase of Warrants pursuant to this Section 2.1 shall take place at 10:00 a.a.m. Los Angeles Time, on the date set forth in the applicable notice given by CU or Home, as the case may be, at the office of Home at the address set forth in Section 8. 1. The amount payable to Home and its Affiliates upon any repurchase of Warrants shall be paid in lawful money of the United States by a federal funds check or a wire transfer of immediately available funds to an account designated by Home. Upon receipt of such payment, Home shall

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Cu Bancorp)

Repurchase of Warrants. (a) Prior to the occurrence of an Acquisition Event, BOH CU shall have no right to repurchase the Warrants and PCBG Home shall have no right to require BOH CU to repurchase the Warrants. (b) At any time after the occurrence of an Acquisition Event, BOH CU shall have the right to purchase (or to cause a person designated by BOH CU to purchase), and PCBG Home shall have the right to require that BOH CU repurchase (or, if BOH CU shall so elect, cause a person designated by BOH CU to purchase), (i) all (but not fewer than all) the Warrants at the time beneficially owned by PCBG Home and its Affiliates at the Warrant Call Price in effect for such Warrants on the date of closing (as provided below) and (ii) all (but not fewer than all) of the shares of Common Stock purchased by PCBG Home and its Affiliates pursuant to this Agreement with respect to which PCBG Home has beneficial ownership at a price equal to the aggregate Market Value market value for such shares as of the date of closing (as provided below). Any purchase pursuant hereto shall take place on a Business Day specified in a notice given by BOH CU to PCBG Home or by PCBG Home to BOHCU, as the case may be (but in no event prior to the 30th day following the date of any such notice to PCBG Home or later than the 30th day following the date of any such notice to BOHCU). (c) The closing of any repurchase of Warrants pursuant to this Section 2.1 shall take place at 10:00 a.a.m. Los Angeles Time, on the date set forth in the applicable notice given by CU or Home, as the case may be, at the office of Home at the address set forth in Section 8. 1. The amount payable to Home and its Affiliates upon any repurchase of Warrants shall be paid in lawful money of the United States by a federal funds check or a wire transfer of immediately available funds to an account designated by Home. Upon receipt of such payment, Home shall deliver or cause to be delivered to CU the certificates representing all the Warrants being repurchased free and clear of any liens, security interests, charges or encumbrances.

Appears in 1 contract

Samples: Reorganization Agreement (Home Interstate Bancorp)

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Repurchase of Warrants. (a) Prior to the occurrence of an Acquisition Event, BOH Home shall have no right to repurchase the Warrants and PCBG CU shall have no right to require BOH Home to repurchase the Warrants. (b) At any time after the occurrence of an Acquisition Event, BOH Home shall have the right to purchase (or to cause a person designated by BOH Home to purchase), and PCBG CU shall have the right to require that BOH Home repurchase (or, if BOH Home shall so elect, cause a person designated by BOH Home to purchase), (i) all (but not fewer than all) the Warrants at the time beneficially owned by PCBG CU and its Affiliates at the Warrant Call Price in effect for such Warrants on the date of closing (as provided below) and (ii) all (but not fewer than all) of the shares of Common Stock purchased by PCBG CU and its Affiliates pursuant to this Agreement with respect to which PCBG CU has beneficial ownership at a price equal to the aggregate Market Value for such shares as of the date of closing (as provided below). Any purchase pursuant hereto shall take place on a Business Day specified in a notice given by BOH Home to PCBG CU or by PCBG CU to BOHHome, as the case may be (but in no event prior to the 30th day following the date of any such notice to PCBG CU or later than the 30th day following the date of any such notice to BOHHome). (c) The closing of any repurchase of Warrants pursuant to this Section 2.1 shall take place at 10:00 a.a.m. Los Angeles Time, on the date set forth in the applicable notice given by Home or CU, as the case may be, at the office of CU at the address set forth in Section 8.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Cu Bancorp)

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