Estimated Valuation Range definition
Examples of Estimated Valuation Range in a sentence
The term Estimated Valuation Range means the range of the estimated pro forma market value of the Conversion Stock as determined by the Independent Appraiser prior to the Subscription Offering and as it may be amended from time to time thereafter.
Prior to the commencement of the Subscription and Community Offerings, an Estimated Valuation Range will be established, which range will vary within 15% above to 15% below the midpoint of such range.
From time to time, as appropriate or as required by the Regulations or the Commissioner, the Bank shall cause the Independent Appraiser to review developments subsequent to its valuation to determine whether the Estimated Valuation Range should be revised.
Prior to the commencement of the Subscription Offering, an Estimated Valuation Range will be established, which range will vary within 15% above to 15% below the midpoint of such range.
The Bank shall cause the Independent Appraiser to prepare a pro forma valuation of the aggregate market value of the Common Stock, which shall be submitted to the Commissioner and the FDIC as part of the Bank's applications, such valuation to be stated in terms of an Estimated Valuation Range, the maximum of which shall be no more than 15% above the average of the minimum and maximum of such price range and the minimum of which shall be no more than 15% below such average.
In the event that the aggregate Purchase Price of the Conversion Stock is below the minimum of the Estimated Valuation Range, or materially above the maximum of the Estimated Valuation Range, a resolicitation only of persons who submitted a purchase order may be required, provided that up to a 15% increase above the maximum of the Estimated Valuation Range will not be deemed material so as to require a resolicitation.
The amount of Conversion Stock that any Person may purchase in the Syndicated Offering shall not exceed $2,000,000 of Conversion Stock; provided, however, that this amount may be increased to up to 5% of the total offering of shares of Conversion Stock, exclusive of an increase in the total number of shares issued due to an increase in the Estimated Valuation Range of up to 15%, subject to any required regulatory approval but without the further approval of the Depositors or the Stockholders of the Bank.
In the Public Offering, if any, any person together with any Associate or group of persons Acting in Concert may purchase up to the maximum purchase limitation established for the Syndicated Community Offering, subject to the maximum and minimum purchase limitations specified in Section 14 and exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Estimated Valuation Range of up to 15%.
In the Syndicated Community Offering, any Person may purchase up to the maximum purchase limitation established for the Community Offering, subject to the maximum and minimum purchase limitations specified in Section 14 and exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Estimated Valuation Range of up to 15%.
In the event that the aggregate purchase price of the shares of Holding Company Conversion Stock ordered is below the minimum of the Estimated Valuation Range, or materially above the Range Maximum, resolicitation of purchasers may be required, provided, however, that up to a 15% increase above the Range Maximum will not be deemed to be material so as to require a resolicitation.