Common use of Vesting and Term Clause in Contracts

Vesting and Term. (a) The Warrant shall vest at the rate of 20% per year beginning on the first anniversary of the date that the Bank opens for business (the "Issue Date"). On each successive anniversary of the Issue Date, an additional 20% of the Warrant shall vest. The portion of the Warrant which is vested may be exercised in whole, or from time to time in part, at any time prior to the Expiration Time (as defined herein). (b) The term for the exercise of the Warrant begins at 9:00 a.m., Eastern Time, on the Issue Date and ends at 5:00 p.m., Eastern Time, on the 10th anniversary of the Issue Date (the "Expiration Time"). (c) Notwithstanding any other provision of this Agreement, the Warrant shall expire on any earlier date than that provided in Section 2(b) hereof in the event the primary federal regulator of the Company or the Bank (the "Federal Regulator") may require the Warrant Holder to exercise or forfeit the Warrant due to the capital of the Company or the Bank falling below the minimum requirements as determined by the Federal Regulator.

Vesting and Term. (a) The Warrant shall vest at the rate of 2033.3% per year beginning on the first anniversary of the date that the Bank opens for business (the "“Issue Date"”). On each successive anniversary of the Issue Date, an additional 2033.3% of the Warrant shall vest. The portion of the Warrant which is vested may be exercised in whole, or from time to time in part, at any time prior to the Expiration Time (as defined herein). (b) The term for the exercise of the Warrant begins at 9:00 a.m., Eastern Time, on the Issue Date and ends at 5:00 p.m., Eastern Time, on the 10th anniversary of the Issue Date (the "“Expiration Time"”). (c) Notwithstanding any other provision of this Agreement, the Warrant shall expire on any earlier date than that provided in Section 2(b) hereof in the event the primary federal regulator of the Company or the Bank (the "“Federal Regulator"”) may require the Warrant Holder to exercise or forfeit the Warrant due to the capital of the Company or the Bank falling below the minimum requirements as determined by the Federal Regulator.

Vesting and Term. (a) The Warrant shall vest at the rate of 2033.3% per year beginning on the first anniversary of the date that the Bank opens for business (the "Issue Date"). On each successive anniversary of the Issue Date, an additional 2033.3% of the Warrant shall vest. The portion of the Warrant which is vested may be exercised in whole, or from time to time in part, at any time prior to the Expiration Time (as defined herein). (b) The term for the exercise of the Warrant begins at 9:00 a.m., Eastern Time, on the Issue Date and ends at 5:00 p.m., Eastern Time, on the 10th anniversary of the Issue Date (the "Expiration Time"). (c) Notwithstanding any other provision of this Agreement, the Warrant shall expire on any earlier date than that provided in Section 2(b) hereof in the event the primary federal regulator of the Company or the Bank (the "Federal Regulator") may require the Warrant Holder to exercise or forfeit the Warrant due to the capital of the Company or the Bank falling below the minimum requirements as determined by the Federal Regulator.

Vesting and Term. (a) The Warrant shall vest at the rate of 2025% per year beginning on the first anniversary of the date that the Bank opens for business (the "Issue Date"). On each successive anniversary of the Issue Date, an additional 2025% of the Warrant shall vest. The portion of the Warrant which is vested may be exercised in whole, or from time to time in part, at any time prior to the Expiration Time (as defined herein). (b) The term for the exercise of the Warrant begins at 9:00 a.m., Eastern Time, on the Issue Date and ends at 5:00 p.m., Eastern Time, on the 10th anniversary of the Issue Date (the "Expiration Time"). (c) Notwithstanding any other provision of this Agreement, the Warrant shall expire on any earlier date than that provided in Section 2(b) hereof in the event the primary federal regulator of the Company or the Bank (the "Federal Regulator") may require the Warrant Holder to exercise or forfeit the Warrant due to the capital of the Company or the Bank falling below the minimum requirements as determined by the Federal Regulator.