Examples of Constituent Banks in a sentence
If the Direc- tor denies the merger application, FHFA shall provide written notice of the denial to each Constituent Bank, as well as to each other Bank and the Office of Finance, and the notice to the Constituent Banks shall include a statement of the reasons for the denial.§ 1278.6 Ratification by Bank Mem- bers.(a) Requirements for member vote.
This Agreement may be terminated and the Bank Merger abandoned at any time before or after adoption of this Agreement by the directors of either of the Constituent Banks, notwithstanding favorable action on the Bank Merger by the shareholder of the Merged Bank, but not later than the issuance of the certificate of merger by the Secretary of State of North Carolina with respect to the Bank Merger in accordance with the provisions of the North Carolina General Statutes, as applicable.
The Surviving Bank shall continue in business with the assets and liabilities of each of the Constituent Banks.
If the Constituent Banks fail to provide the additional information in a timely manner, the Director may deem the failure to provide the re- quired information as grounds to deny the application.
Any claim existing or action pending by or against the Constituent Banks may be prosecuted to judgment as if the Bank Merger had not taken place, and the Surviving Bank may be substituted in its place.
The acts and things required to be done by the North Carolina General Statutes in order to make this Agreement effective, including the submission of this Agreement to the shareholders of the Constituent Banks and the filing of the articles of merger relating hereto in the manner provided in said North Carolina General Statutes, shall be attended to and done by the proper officers of the Constituent Banks with the assistance of counsel as soon as practicable.
If FHFA has determined a merger application to be complete as provided in paragraph (c) of this sec- tion, FHFA may require the Con- stituent Banks to submit additional in- formation only with respect to matters derived from or prompted by the mate- rials already submitted, or matters of a material nature that were not reason- ably apparent previously, including matters concealed by the Constituent Banks or relating to developments that arose after the determination of com- pleteness.
This Agreement, and the consummation of the Merger contemplated hereby, is subject to approval by the shareholders of the Constituent Banks and by the Department and all other applicable regulatory authorities.
At the Effective Time, all persons who are employees of the Constituent Banks shall become employees of the Surviving Bank.
The directors and officers of the Constituent Banks shall carry out and consummate this Agreement and shall have the power to adopt all resolutions, execute and file all documents and take all other actions that they may deem necessary or desirable for the purpose of effecting the merger of the Constituent Banks in accordance with this Agreement and the Code.