Examples of Bank Option in a sentence
Each holder of a Bank Option who presents a demand for cancellation and payment of such Bank Option as provided in Section 2.8 of the Agreement to the Exchange Agent prior to the Closing shall, upon acceptance thereof, be entitled to the per share equivalent of the Aggregate Option Price.
From and after the Effective Date of the Reorganization, (i) each Bank Option assumed by the Company hereunder may be exercised solely for Company Stock, (ii) the number of shares of Company Stock subject to such Bank Option shall be equal to the number of shares of Bank Stock subject to such Bank Option immediately prior to the Effective Date, and (iii) the per share exercise price under each such Bank Option shall be the per share price of the Bank Stock as of the Effective Date.
The Exchange Agent shall be entitled to rely upon the records of the Bank and the information provided in such demand for cancellation documentation provided by any such holder of a Bank Option, as verified by the Company as to the method and means of payment and disposition of such consideration.
Except as otherwise provided herein, the provisions of the Bank Option Plans that provide for the issuance or grant of any other interest in respect of the capital stock of the Bank shall be deleted as of the Effective Date of the Reorganization.
It was recorded that 208 thousand clients chose to receive their salaries at BB through the Free Bank Option and 26% of this total obtained a loan or financing after the transfer of the earnings.
Except as otherwise provided herein, the provisions of the Bank Option Plans that provide for the issuance or grant of any other interest in respect of the capital stock of the Bank shall be deleted as of the Effective Date.
Notwithstanding anything contained in this Agreement to the contrary, First Community and the Minority Bank each acknowledge and agree that any holder of a Minority Bank Option may, at any time prior to the Closing Date, exercise such option in accordance with its terms and conditions.
As described in Part II.A. above, under the Plan, the Bank Claim will be Allowed in its current outstanding amount of $9,797,262.58 (inclusive of unpaid postpetition interest) and paid in full over time under either Bank Option 1 or Bank Option 2, at the sole and exclusive discretion of the Holder of the Allowed Bank Claim.
If the Holder of the Allowed Bank Claim selects Bank Option 2 above, Newco will fund the Lump Sum Payment.
With respect to any such holder, the Bank shall use its best efforts to encourage such holder to exercise such Bank Option by payment in cash.