Charter Conversion definition

Charter Conversion shall have the meaning set forth in Section 2.9.
Sample 1Sample 2Sample 3
Charter Conversion means the conversion of the Bank from a New York State-chartered mutual savings bank to a federal mutual savings bank.
Sample 1Sample 2
Charter Conversion has the meaning set forth in Section 2.04.
Sample 1

Examples of Charter Conversion in a sentence

  • The Foundation is being formed in connection with the Charter Conversion and Reorganization in order to complement the Bank's existing community reinvestment activities and to share with the Bank's local community a part of the Bank's financial success as a locally headquartered, community-minded financial services institution.

  • As part of the Charter Conversion and Reorganization, the Holding Company and the Bank intend to establish the Foundation and the Holding Company will donate to the Foundation from authorized but unissued shares of Common Stock, an amount equal to 75,000 shares or 1.3% at the midpoint of the Offering Range issued in the Stock Offering and the Bank will contribute cash in the amount of $750,000.

  • The New BCBSMo Board shall appoint the officers of New BCBSMo at the Charter Conversion Effective Time.

  • On the Closing Date, immediately upon consummation of the Charter Conversion Transaction, New BCBSMo, New RIT and the Foundation shall consummate the Reincorporation Merger Transaction as provided below in this Section 1.04.

  • Somerset Bank shall use all commercially reasonable efforts to obtain as soon as practicable all consents and approvals of any other Persons, including the Depositors, necessary or desirable for the consummation of the transactions contemplated by this Agreement, including the Conversion and the Charter Conversion.

  • BCBSMo and the Foundation shall take all reasonable and lawful action and shall execute all documents, certificates and other papers as may be necessary or appropriate in order to effectuate the Charter Conversion Transaction in accordance with this Agreement and applicable law.

  • The Foundation shall be the sole shareholder of New BCBSMo immediately after and following the Charter Conversion Effective Time.

  • In the event that the Charter Conversion is not or cannot be completed in connection with the Conversion, the Holding Company will register with the FRB as a savings and loan holding company.

  • Except as contemplated hereby, the Foundation shall not sell, transfer, pledge, encumber, or otherwise affect its ownership in, or rights with respect to, the New BCBSMo Stock to be received by it upon consummation of the Charter Conversion Transaction or the New RIT Stock.

  • Each of Regal Bancorp, Regal Bank, SR Bancorp and Somerset Bank will cooperate with the other and use their best efforts to promptly prepare all necessary documentation, to effect all necessary filings and to obtain all necessary permits, consents, waivers, approvals and authorizations of the SEC, the Bank Regulators and any other third parties and Governmental Entities necessary to consummate the transactions contemplated by this Agreement, including the Merger, the Conversion and the Charter Conversion.


More Definitions of Charter Conversion

Charter Conversion shall have the meaning set forth above in Recital D.
Sample 1

Related to Charter Conversion

  • Optional Conversion has the meaning set forth in Section 6(a).

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

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

  • Forced Conversion has the meaning set forth in Section 4.05(c) hereof.

  • 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.

  • Date of Conversion Conversion Price:_______________________________________________________________ Shares To Be Delivered:_________________________________________________________ Signature:______________________________________________________________________ Print Name:_____________________________________________________________________ Address:________________________________________________________________________

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

  • Certificate of Conversion means the Certificate of Conversion of the Partnership filed with Secretary of State of Delaware as referenced in Section 2.1 as such Certificate of Conversion may be amended, supplemented or restated from time to time.

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

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

  • 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.

  • Mandatory Conversion Notice has the meaning set forth in Section 4.7.C hereof.

  • 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.

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

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

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

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

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

  • Company Conversion Price means, as of any date of determination, the price which shall be the lower of (i) the applicable Conversion Price and (ii) that price computed as 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days ending on the Trading Day immediately preceding the applicable Company Redemption Date (each a “Company Conversion Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock during such Company Conversion Measuring Period.

  • Forced Conversion Notice has the meaning set forth in Section 4.05(c) hereof.

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Write-Down and Conversion Powers means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

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

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.