STANDBY PURCHASE AGREEMENTStandby Purchase Agreement • August 13th, 2009 • Center Bancorp Inc • State commercial banks • New Jersey
This Standby Purchase Agreement (this “Agreement”), dated as of ________, 2009, is entered into by and between Center Bancorp, Inc., a New Jersey corporation (the “Company”), on the one hand, and Larry B. Seidman (“Seidman”), the following entities: Seidman and Associates, LLC, Seidman Investment Partnership, LP, Seidman Investment Partnership II, LP, Broad Park Investors, LLC, Chewy Gooey Cookies, LP, Berggruen Holdings North America, Ltd. and LSBK 06-08, LLC (such entities collectively referred to as the “Seidman Affiliates”), Raymond Vanaria (“Vanaria”), Harold Schechter (“Schechter”), and Dennis Pollack (“Pollack”) (Seidman, the Seidman Affiliates, Vanaria, Schechter, and Pollack collectively referred to as the “Standby Purchaser”), on the other hand.
