MHC Reorganization definition

MHC Reorganization collectively means all steps which are necessary for the Bank to reorganize into the mutual holding company form of organization in the manner specified herein.
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MHC Reorganization collectively means all steps which are necessary for the Bank to reorganize into the mutual holding company form of organization as a subsidiary of a subsidiary holding company in the manner specified in the Reorganization Plan.
Sample 1Sample 2Sample 3

Examples of MHC Reorganization in a sentence

  • Implementation of this Plan also is subject to the approval of all other applicable regulatory authorities, as well as the receipt of favorable rulings or opinions as to the tax consequences of the MHC Reorganization.

  • The SHC's ability to issue debt or equity securities upon consummation of the MHC Reorganization shall be subject to the approval of the Board of Directors of the SHC and the requirements of applicable laws and regulations.

  • Following the MHC Reorganization, voting rights with respect to the Stock-form Bank will be held and exercised exclusively by the holder or holders of the capital stock of the Stock-form Bank.

  • Plates and strips may be placed in wire baskets for immersion in water.

  • Upon consummation of the MHC Reorganization, the converted Stock-form Bank will be deemed to be a continuation of the Bank, and all property of the Bank, including its right, title and interest in and to all property of whatever kind and nature, all interests and assets previously existing or pertaining to the Bank, or which would issue to the Bank immediately by operation of law and without the necessity of any conveyance or transfer and without any further act or deed, will vest in the Stock-form Bank.

  • The actual issuance of shares of common stock of the SHC in this manner shall not be a condition to the MHC Reorganization, unless otherwise required by the Board of Trustees of the Bank.

  • The SHC also shall have authority to issue equity or debt securities other than common stock and securities convertible into common stock following consummation of the MHC Reorganization, subject to the terms of its Charter and Bylaws, including any amendments thereto.

  • The Stock Bank will continue to have, succeed to, and be responsible for all rights, liabilities and obligations of the Bank and, immediately upon consummation of the MHC Reorganization, will continue its main office and other operations at the then-present location of the Bank.

  • In addition, all Persons who become the holder of a Deposit Account with the Stock Bank subsequent to the MHC Reorganization also will have liquidation rights with respect to the MHC to the same extent that Depositors hold liquidation rights in the Bank.

  • Notwithstanding Subsections (a) and (b) above, no Plan Shares may be distributed prior to the date which is five (5) years from the Date of the MHC Reorganization to the extent the Participant or Beneficiary, as the case may be, would after receipt of such Shares own in excess of ten percent (10%) of the issued and outstanding shares of Common Stock unless such action is approved in advance by a majority vote of non-employee directors of the Board.

Related to MHC Reorganization

  • Capital Reorganization has the meaning ascribed thereto in subsection 2.12(4);

  • Corporate Reorganization means any change in the legal existence of any Subject Entity (other than a Capital Reorganization) including by way of amalgamation, merger, winding up, continuance or plan of arrangement.

  • Pre-Acquisition Reorganization has the meaning set out in Section 6.8;

  • Pre-Closing Reorganization has the meaning set forth in the Recitals.

  • Common Share Reorganization has the meaning set forth in Section 4.1;

  • Permitted Reorganization means re-organizations and other activities related to tax planning and re-organization, so long as, after giving effect thereto, the security interest of the Lenders in the Collateral, taken as a whole, is not materially impaired.

  • Internal Reorganization has the meaning set forth in the Separation Agreement.

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • Reorganization Transaction see clause (d) of the definition of “Change of Control.”

  • Reorganization Transactions shall have the meaning set forth in the Recitals.

  • Plan of Reorganization means any plan of reorganization, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed in or in connection with any Insolvency or Liquidation Proceeding.

  • Reorganization with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

  • Company Merger has the meaning specified in the Recitals hereto.

  • Reorganization Securities has the meaning set forth in Section 6.9 hereof.

  • Cash Merger has the meaning set forth in Section 5.04(b)(ii).

  • Bank Merger has the meaning set forth in Section 1.03.

  • Bank Merger Agreement has the meaning set forth in Section 6.10.

  • Reorganization Event has the meaning specified in Section 5.6(b).

  • Reorganization Cases means the cases filed by the Debtors under Chapter 11 of the Bankruptcy Code.

  • Merger Transaction means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.

  • Business Combination Transaction means:

  • Reverse Split has the meaning set forth in Section 5.21.

  • Permitted Reorganisation means a solvent reconstruction, amalgamation, reorganisation, merger or consolidation whereby all or substantially all the business, undertaking or assets of the Issuer are transferred to a successor entity which assumes all the obligations of the Issuer under the Capital Securities.

  • Spinoff means a transaction in which the Transferor Plan transfers only part of its assets and/or liabilities to the Transferee Plan. The Transferee Plan may be a New Plan that is created in the Spinoff, or it may be a preexisting plan that simply receives part of the assets and/or liabilities of the Transferor Plan.

  • Charter Amendment means the Certificate of Amendment to the Certificate of Incorporation, in the form attached hereto as Exhibit D.

  • Mergers has the meaning set forth in the Recitals.