Constituent Associations definition
Examples of Constituent Associations in a sentence
At the Effective Date, each Oakley deposit account then existing shall, automatically and without further act of the Constituent Associations or the holder thereof, become a fully paid and non-assessable outstanding deposit account of the Resulting Association having the same withdrawal value and terms and conditions as immediately prior to the Effective Date.
This Agreement is intended by the Constituent Associations to be a Plan of Reorganization under Section 368 of the Internal Revenue Code of 1996, as amended (the "Code"), to be effectuated in the manner set forth herein.
This Plan of Merger may not be amended except by an instrument in writing signed on behalf of each of the Constituent Associations; provided, however, that after this Plan of Merger has been approved by the stockholders of the Constituent Associations, no such amendment shall affect the rights of such stockholders in a manner which is materially adverse to the interests of such stockholders.
As agreed by the Constituent Associations, the SWKA shall maintain the financial records of the WRL.
Anything herein to the contrary notwithstanding, this Agreement may be abandoned by either of the Constituent Associations by appropriate resolution of its board of directors at any time prior to the Association Merger becoming effective, whether before or after any stockholder action.
Peoples shall be the continuing, surviving and resulting association in the Merger, shall exist at such time as a mutual deposit savings and loan association under the laws of the State of Ohio and shall be the only one of the Constituent Associations to continue its separate corporate existence after the Effective Date.
At the time when the Merger shall become effective and as a result thereof, there shall be created, automatically and without further act of the Constituent Associations, an advisory board (the "Advisory Board") of the Resulting Association.