Common use of Secondary Market Transactions Clause in Contracts

Secondary Market Transactions. To the extent and so long as not in violation of Section 6.4 hereof, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which Purchasers customarily adhere or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in costs or expenses in connection with such Secondary Market Transaction. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any Purchaser and to any Person reasonably deemed necessary by Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person.

Appears in 2 contracts

Samples: Subordinated Note Purchase Agreement (Security Federal Corp), Subordinated Note Purchase Agreement (Security Federal Corp)

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Secondary Market Transactions. To the extent and so So long as not in violation of Section 6.4 hereofbelow, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the any such Purchasers and otherwise reasonably assist the Purchasers such Purchaser in satisfying the market standards to which Purchasers such Purchaser customarily adhere adheres or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in costs or expenses in connection with such Secondary Market Transaction. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any the Purchaser and to any Person reasonably deemed necessary by Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any applicable confidentiality agreements.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (First Internet Bancorp)

Secondary Market Transactions. To the extent and so long as not in violation of Section 6.4 hereof, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which the Purchasers customarily adhere or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in costs or expenses in connection with such Secondary Market Transaction. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any such Purchaser and to any Person reasonably deemed necessary by such Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any applicable confidentiality agreements.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Third Coast Bancshares, Inc.)

Secondary Market Transactions. To the extent and so So long as not in violation of Section 6.4 hereofbelow, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which Purchasers customarily adhere or which that may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction Transaction, but in no event shall the Company be required to (a) incur more than an aggregate of $10,000 (without reimbursement) in of any costs or expenses in connection with such Secondary Market Transactiontherewith or (b) provide any nonpublic material information to any Purchaser. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any Purchaser and to any Person reasonably deemed necessary by Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any applicable confidentiality agreements.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (ISABELLA BANK Corp)

Secondary Market Transactions. To the extent and so long as not in violation of Section 6.4 hereof, each Each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset {Clients/1716/00404482.DOCX/ } 16 securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which the Purchasers customarily adhere or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in costs or expenses in connection with such Secondary Market Transaction. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any Purchaser and to any Person reasonably deemed necessary by Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any applicable confidentiality agreements.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Eagle Financial Services Inc)

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Secondary Market Transactions. To the extent and so long as not in violation of Section 6.4 hereof(Purchase for Investment) in this Agreement, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Senior Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Senior Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the CompanyPurchaser’s expense, use commercially reasonable efforts to cooperate with the Purchasers such Purchaser and otherwise reasonably assist the Purchasers such Purchaser in satisfying the market standards to which Purchasers such Purchaser customarily adhere adheres or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in costs or expenses in connection with such Secondary Market Transaction. Subject to any written confidentiality obligation, including the ther terms of any non-disclosure agreements or confidentiality agreement between the Purchasers such Purchaser and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any Purchaser and to any Person reasonably deemed necessary by such Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Senior Notes may be retained by any such Person, subject to the terms of any applicable confidentiality or nondisclosure agreements between the Purchaser and the Company.

Appears in 1 contract

Samples: Senior Note Purchase Agreement (Patriot National Bancorp Inc)

Secondary Market Transactions. To the extent and so long as not in violation of Section 6.4 hereof, each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”). In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which the Purchasers customarily adhere or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction Transaction, but in no event shall the Company be required to incur more than $10,000 (without reimbursement) in any costs or expenses in excess of $10,000 in connection with such Secondary Market Transactiontherewith. Subject to any written confidentiality obligation, including the terms of any non-disclosure agreements between the Purchasers and the Company, all information regarding the Company may be furnished, without liability except in the case of gross negligence or willful misconduct, to any such Purchaser and to any Person reasonably deemed necessary by such Purchaser in connection with participation in such Secondary Market Transaction. All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any applicable confidentiality agreements.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Triumph Bancorp, Inc.)

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