Bank Conversion definition

Bank Conversion means the conversion of WFB into a national banking association under the name “Western Financial Bank, National Association” (or other permissible name).
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Bank Conversion means conversion of the Bank to the New Bank.
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Bank Conversion shall refer to the conversion of Brunswick Interim from a state chartered stock savings and loan association organized under the laws of the State of Georgia to a state chartered bank organized under the laws of the State of Georgia as contemplated by Section 2.1(b) of this Agreement and as reflected in the Amended Brunswick Articles.
Sample 1

Examples of Bank Conversion in a sentence

  • Failure to pursue or receive regulatory approval for the Bank Conversion shall have no effect on the vote with respect to the Stock Conversion.

  • The effective date of the certificate of incorporation and bylaws of the Commercial Bank shall be the date of the consummation of the Bank Conversion.

  • The Bank Conversion shall be consummated as soon as practicable following the consummation of the Stock Conversion as described in Paragraph VII.A. herein.

  • Such restrictions and limitations shall not apply following consummation of the Bank Conversion, unless the OTS approval of the Bank Conversion otherwise requires.

  • It is the further desire of the Board of Directors to reorganize the Converted Bank (or the Commercial Bank upon the Bank Conversion) as the wholly owned subsidiary of the Holding Company to enhance flexibility of operations, diversification of business opportunities and financial capability for business and regulatory purposes and to enable the Commercial Bank to compete more effectively with other financial service organizations.

  • Each Person holding a Savings Account at the Converted Bank as of immediately prior to consummation of the Bank Conversion as set forth in Paragraph VII.B. herein shall receive, without payment, a withdrawable Savings Account or Savings Accounts in the Commercial Bank equal in dollar amount and on the same terms and conditions as in effect as of immediately prior to the consummation of the Bank Conversion.

  • The purpose of the Bank Conversion is to provide the Bank with additional operating flexibility and enhance its ability to provide a full range of banking products and services to its community.

  • Prior to completion of the Bank Conversion, the North Carolina commercial bank certificate of incorporation and bylaws may be amended in accordance with the provisions and limitations for amending the Plan under Paragraph XV below.

  • Consummation of the Bank Conversion requires approval of the North Carolina Commissioner of Banks and the Board of Governors of the Federal Reserve System.

  • By voting in favor of the adoption of the Plan and the Conversion, the Members will be voting in favor of (i) the Stock Conversion and the adoption by the Bank of the stock articles of incorporation and Bylaws in the forms attached as Exhibits A and B to this Plan and (ii) the subsequent Bank Conversion and the adoption by the Converted Bank of the North Carolina commercial bank certificate of incorporation and bylaws in the forms attached as Exhibits C and D to this Plan.

Related to Bank Conversion

  • Mandatory Conversion shall have the meaning set forth in Section 6.

  • Automatic Conversion means the irrevocable and automatic release of all of the Issuer’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Issuer’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the holders of the Securities) or to the relevant recipient, in accordance with the terms of the Securities.

  • Mandatory Conversion Notice shall have the meaning ascribed to it in Section 4.01(b)(ii) hereof.

  • Date of Conversion Conversion Price:_______________________________________________________________

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Conversion Plan shall have the meaning given to such term in Section 2.05 of this Agreement.

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Major conversion means a conversion of an existing ship:

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Forced Conversion shall have the meaning set forth in Section 6(d).

  • Notice of Conversion/Continuation shall have the meaning provided in Section 2.06.

  • Conversion and “Converted” each refers to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • Plan of Conversion has the meaning given such term in Section 14.1.

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Automatic Conversion Date shall have the meaning specified in Section 15.12(a).

  • Forced Conversion Notice shall have the meaning set forth in Section 6(d).

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Certificate of Conversion means the Certificate of Conversion to Limited Liability Company of the Corporation to the Company as filed in the office of the Secretary of State of the State of Delaware pursuant to the Delaware Act.

  • Conversion/Continuation Notice is defined in Section 2.9.

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Notice of Continuation/Conversion has the meaning specified in Section 2.2(b).

  • Stock Conversion Number shall have the meaning set forth in Section 3.2.1.