Stock of Subsidiary. The shares of common stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and exchanged by Holding Company for 100 shares of fully paid common stock of Bank as the Surviving Corporation.
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Samples: Agreement and Plan of Merger (CU Bancorp), Agreement and Plan of Merger (CU Bancorp), Merge and Plan (CU Bancorp)
Stock of Subsidiary. The Upon the merger becoming effective, the shares of common capital stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and exchanged by the Holding Company for 100 shares of fully paid and assessable common stock of the Bank as the Surviving Corporation.
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Samples: Plan of Reorganization and Merger Agreement (Humboldt Bancorp)
Stock of Subsidiary. The shares of common stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and exchanged by Holding Company for 100 shares of fully paid and non-assessable common stock of Bank as the Surviving Corporation.
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