Time of Change in Control. For purposes of this Agreement, a Change in Control shall be deemed to occur on the earlier of: (1) The date on which the members of the Incumbent Board fail to represent a majority of the Board; or (2) The business day prior to effective date of any merger, consolidation, combination or sale of assets as defined in paragraph 1C above.
Appears in 3 contracts
Samples: Change in Control Agreement (ConnectOne Bancorp, Inc.), Change in Control Agreement (North Jersey Community Bancorp, Inc.), Change in Control Agreement (North Jersey Community Bancorp, Inc.)
Time of Change in Control. For purposes of this Agreement, a Change in Control shall be deemed to occur on the earlier of:
(1) The first date of which a single person or entity, or a group of affiliated persons or entities acting in concert, acquire the beneficial ownership of 25% or more of Company's voting securities; or
(2) The date on which the members of the Incumbent Board fail to represent a majority of the Board; or
(23) The business day prior to effective date of any merger, consolidation, combination or sale of assets as defined in paragraph 1C above.
Appears in 2 contracts
Samples: Change of Control Agreement (First Washington Financial Corp), Change in Control Agreement (First Washington Financial Corp)
