FCB Common Stock definition
Examples of FCB Common Stock in a sentence
At the Effective Time, the stock transfer books of FCB shall be closed as to holders of FCB Common Stock immediately prior to the Effective Time, and no transfer of FCB Common Stock by any such holder shall thereafter be made or recognized.
If, after the Effective Time, OSB Common Stock Certificates are presented for transfer to the Exchange Agent, they shall be canceled and exchanged for FCB Common Stock Certificates representing shares of FCB Common Stock as provided in this Article II.
Under Section 1223 of the Code, the holding period of FCB Common Stock received in the Merger by a holder of Company Common Stock will include the holding period of the Company Common Stock exchanged therefor, provided that the shares of Company Common Stock so exchanged were held as capital assets at the Effective Time of the Merger.
Gain or loss realized by a shareholder of Company Common Stock who receives cash in the Merger in exchange for fractional share interests, if any, will be recognized in an amount equal to the difference between the cash received and the basis of such shareholder in each fractional share of FCB Common Stock constructively received in the Merger pursuant to Section 1001 of the Code.
The basis of FCB Common Stock received in the Merger by a holder of Company Common Stock will in the aggregate be the same as the basis of the Company Common Stock exchanged therefor pursuant to Section 358 of the Code, decreased by the amount of cash received and increased by the amount of gain recognized (less any basis attributable to fractional shares of Company Common Stock for which cash is received).
No gain or loss will be recognized by a shareholder of Company if such shareholder receives solely FCB Common Stock in exchange for Company Common Stock pursuant to Section 354 of the Code.
Subject to Section 10.1(k) of this Agreement, the FCB Board shall recommend that the holders of FCB Common Stock vote for and adopt the Merger provided for in the Proxy Statement/Prospectus and this Agreement.
All of the issued and outstanding shares of FCB Common Stock have been duly authorized and validly issued and are fully paid, nonassessable (except as otherwise provided by Section 180.0622(2)(b) of the WBCL) and free of preemptive rights.
The unallocated shares of OSB Common Stock currently held by the OSB ESOP shall be converted into shares of FCB Common Stock in accordance with Section 1.4 hereof, and thereafter shall be held in the Suspense Account under the FCB ESOP and allocated to the participants in the FCB ESOP (including, without limitation, such employees of OSB Bank who become employees of FCB Bank following the Effective Date) according to the terms and provisions of the FCB ESOP.
To the extent permitted by Law, former stockholders of record of FCB Common Stock shall be entitled to vote after the Effective Time at any meeting of ANB stockholders the number of whole shares of ANB Common Stock into which their respective shares of FCB Common Stock (excluding Cash Election Shares) are converted, regardless of whether such holders have exchanged their FCB Certificates for certificates representing ANB Common Stock in accordance with the provisions of this Agreement.