Sun Bancorp, Inc. Vineland, New Jersey 08360 Ladies and Gentlemen:Securities Purchase Agreement • August 10th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec • New York
Reference is hereby made to (i) the Securities Purchase Agreement, dated as of July 7, 2010 (the “Securities Purchase Agreement”), between Sun Bancorp, Inc., a New Jersey corporation (the “Company”) and Maycomb Holdings II, LLC, Maycomb Holdings III, LLC, and Maycomb Holdings IV, LLC (“Siguler”); (ii) the notice given by the Company to Siguler, dated as of June 30, 2011, notifying Siguler of its gross-up right under Section 4.7 of the Securities Purchase Agreement (the “Gross-Up Right”) in connection with a proposed private placement (the “Placement”) by the Company to Anchorage Capital Master Offshore, Ltd. (“Anchorage”) of 996,705 shares of its common stock, par value $1.00 per share (“Common Stock”) for $2.85 per share of Common Stock (the “Offering Price”); (iii) the notice given by Siguler, dated as of July 12, 2011, notifying the Company of Siguler’s intention to exercise the Gross-Up Right with respect to the Common Stock issued in the Placement; and (iv) the completion on April
Sun Bancorp, Inc. Vineland, New Jersey 08360 Ladies and Gentlemen:Agreement • August 10th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec • New York
Reference is hereby made to (i) the Agreement, dated as of March 16, 2011 (the “Agreement”), between Sun Bancorp, Inc., a New Jersey corporation (the “Company”), and a fund managed by Anchorage Capital Group LLC, a Delaware limited liability company (“Anchorage Capital”), acting on behalf of Anchorage Capital Master Offshore, Ltd. (“Anchorage”); (ii) the notice given by the Company to Anchorage Capital, dated as of June 22, 2011, notifying Anchorage of its gross-up right under Section 1.1 of the Agreement (the “Gross-Up Right”) in connection with the Company’s issuance and sale (the “Offerings”) of (a) 3,750,000 shares (the “Option Securities”) of its common stock, par value, $1.00 per share (the “Common Stock”) pursuant to the underwriters’ over-allotment option in connection with the Company’s public offering of Common Stock completed on March 22, 2011 and (b) 3,802,131 shares of Common Stock, to several investors and their affiliates (the “Investors”) in a private placement that was
Sun Bancorp, Inc. Vineland, New Jersey 08360 Ladies and Gentlemen:Securities Purchase Agreement • August 10th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec • New York
Reference is hereby made to (i) the Securities Purchase Agreement, dated as of July 7, 2010 (the “Securities Purchase Agreement”), between Sun Bancorp, Inc., a New Jersey corporation (the “Company”) and Bernard A. Brown, Sidney R. Brown, Jeffrey S. Brown, Anne E. Koons, The Four B’s, NFI Interactive Logistics, LLC, National Distribution Centers, L.P. and National Freight, Inc. (each, an “Investor” and collectively, the “Investors”); (ii) the notice given by the Company to the Investors, dated as of June 30, 2011, notifying the Investors of their gross-up right under Section 4.7 of the Securities Purchase Agreement (the “Gross-Up Right”) in connection with a proposed private placement (the “Placement”) by the Company to Anchorage Capital Master Offshore, Ltd. (“Anchorage”) of 996,705 shares of its common stock, par value $1.00 per share (“Common Stock”) for $2.85 per share of Common Stock (the “Offering Price”); (iii) the notice given by the Investors, dated as of July 12, 2011, notifyi
Sun Bancorp, Inc. Vineland, New Jersey 08360 Ladies and Gentlemen:Securities Purchase Agreement • August 10th, 2011 • Sun Bancorp Inc /Nj/ • Commercial banks, nec • New York
Reference is hereby made to (i) the Securities Purchase Agreement, dated as of July 7, 2010 (the “Securities Purchase Agreement”), between Sun Bancorp, Inc., a New Jersey corporation (the “Company”), and WLR SBI AcquisitionCo, LLC, a Delaware limited liability company (“WLR”); (ii) the notice given by the Company to WLR, dated as of June 30, 2011, notifying WLR of its gross-up right under Section 4.7 of the Securities Purchase Agreement (the “Gross-Up Right”) in connection with a proposed private placement (the “Placement”) by the Company to Anchorage Capital Master Offshore, Ltd. (“Anchorage”) of 996,705 shares of its common stock, par value $1.00 per share (“Common Stock”), for $2.85 per share of Common Stock (the “Offering Price”); (iii) the notice given by WLR, dated as of July 11, 2011, notifying the Company of WLR’s intention to exercise the Gross-Up Right with respect to the Common Stock issued in the Placement; and (iv) the completion on April 11, 2011 of a private placement to
