Common use of Restructuring Efforts Clause in Contracts

Restructuring Efforts. If Seller shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party or its shareholders) and to resubmit the transaction to Seller’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (BNC Bancorp), Agreement and Plan of Merger (BNC Bancorp), Agreement and Plan of Merger (BNC Bancorp)

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Restructuring Efforts. If Seller Yadkin shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party or its shareholdersshareholders or stockholders, as applicable) and to resubmit the transaction to SellerYadkin’s shareholders for approval, with the timing of such resubmission to be determined at the request of BuyerVantage.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Vantagesouth Bancshares, Inc.), Agreement and Plan of Merger (YADKIN FINANCIAL Corp)

Restructuring Efforts. If Seller Target shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no neither Party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party or its shareholders) and to resubmit the transaction to SellerTarget’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Community Capital Corp /Sc/), Agreement and Plan of Merger (Park Sterling Corp)

Restructuring Efforts. If Seller First Charter shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party neither party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party party or its shareholders) and to resubmit the transaction to SellerFirst Charter’s shareholders for approval, with the timing of such resubmission to be determined at the request of BuyerFifth Third.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (First Charter Corp /Nc/), Agreement and Plan of Merger (First Charter Corp /Nc/)

Restructuring Efforts. If Seller shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its commercially reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party shall have any obligation to alter or change the amount or kind of the Common Stock Merger Consideration in a manner adverse to such Party or its shareholders) and to resubmit the transaction to Seller’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.

Appears in 1 contract

Samples: Agreement and Plan of Merger (BNC Bancorp)

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Restructuring Efforts. If Seller shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party shall have any obligation to alter or change the amount or kind of the Merger Consideration merger consideration provided in Section 1.4 of this Agreement in a manner adverse to such Party or its shareholders) and to resubmit the transaction to Seller’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.

Appears in 1 contract

Samples: Agreement and Plan of Merger (BNC Bancorp)

Restructuring Efforts. If Seller shall have failed to obtain the requisite vote Requisite Seller Vote at the duly convened Meeting or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have has been terminated pursuant to in accordance with its terms, each of the Parties parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that no Party neither party shall have any obligation to alter or change any material terms, including the amount or kind of the Merger Consideration consideration to be issued to holders of Seller Common Stock as provided for in this Agreement, in a manner adverse to such Party party) and/or resubmit this Agreement or its shareholdersthe transactions contemplated hereby (or as restructured pursuant to this Section 6.17) and to resubmit the transaction to Seller’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.

Appears in 1 contract

Samples: Agreement and Plan of Merger (PB Bancorp, Inc.)

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