Subordinated Debentures. Upon the Effective Time, Xxxxxxx or one of its Subsidiaries shall assume the due and punctual performance and observance of the covenants and conditions to be performed by Southwest or its Subsidiaries under the (i) Indenture between Southwest and U.S. Bank, N.A., dated as of June 26, 2003, relating to the three-month LIBOR plus 3.10% floating rate subordinated debentures of Southwest due 2033 (the “Southwest Subordinated Debentures”) and (ii) Indenture between Southwest and Xxxxx Fargo Bank, N.A., dated as of October 14, 2003, relating to the three-month LIBOR plus 2.85% floating rate subordinated debentures of Southwest due 2033 (the “Southwest II Subordinated Debentures,” collectively with the Southwest Subordinated Debentures, the “Subordinated Debentures”), and the due and punctual payments of the principal of and premium, if any, and interest on the Subordinated Debentures. In connection therewith, Xxxxxxx or its applicable Subsidiary shall execute and deliver any supplemental indentures, and the parties hereto shall provide any opinion of counsel to the trustee thereof, required to make such assumptions effective. If requested by Xxxxxxx, Southwest will, or cause its Subsidiaries to, reasonably cooperate with Xxxxxxx to facilitate the prompt redemption of the Subordinated Debentures at or following the Closing.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Simmons First National Corp), Agreement and Plan of Merger (Southwest Bancorp Inc), Agreement and Plan of Merger (Simmons First National Corp)
Subordinated Debentures. Upon the Effective Time, Xxxxxxx or one of its Subsidiaries shall assume the due and punctual performance and observance of the covenants and conditions to be performed by Southwest or its Subsidiaries under the (i) Indenture between Southwest and U.S. Bank, N.A., dated as of June 26, 2003, relating to the three-month LIBOR plus 3.10% floating rate subordinated debentures of Southwest due 2033 (the “Southwest Subordinated Debentures”) and (ii) Indenture between Southwest and Xxxxx Fargo Bank, N.A., dated as of October 14, 2003, relating to the three-month LIBOR plus 2.85% floating rate subordinated debentures of Southwest due 2033 (the “Southwest II Subordinated Debentures,” collectively with the Southwest Subordinated Debentures, the “Subordinated Debentures”), and the due and punctual payments of the principal of and premium, if any, and interest on the Subordinated Debentures. In connection therewith, Xxxxxxx or its applicable Subsidiary shall execute and deliver any supplemental indentures, and the parties hereto shall provide any opinion of counsel to the trustee thereof, required to make such assumptions effective. If requested by Xxxxxxx, Southwest will, or cause its 56 Subsidiaries to, reasonably cooperate with Xxxxxxx to facilitate the prompt redemption of the Subordinated Debentures at or following the Closing.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Southwest Bancorp Inc)
