NP Bank definition
Examples of NP Bank in a sentence
To the Knowledge of NPB, there is no fact or circumstance or set of facts or circumstances which would cause NP Bank to fail to comply with such provisions in a manner which would have a Material Adverse Effect.
NP Bank has the corporate power to carry on its business and operations as now being conducted and to own and operate the properties and assets now owned and being operated by it.
No event or circumstance has occurred resulting in, and the execution of this Agreement by NPB and NP Bank will not result in the grant, issuance or triggering of any right or entitlement or the obligation to grant or issue any interest in NPB Common Stock or enable or allow any right or other interest associated with the Rights Agreement to be exercised, distributed or triggered.
Having elected to execute this Agreement, to fulfill the promises and to receive the consideration set forth in Section 1 above, Executive freely and knowingly, after due consideration, enters into this Agreement and signs the same as Executive’s free and independent act intending to waive, settle and release all claims Executive has or might have against the Bank, N▇▇▇▇▇▇, NPB and NP Bank.
NP Bank is duly licensed, registered or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing, registration or qualification necessary, except where the failure to be so licensed, registered or qualified will not have a Material Adverse Effect, and all such licenses, registrations and qualifications are in full force and effect in all material respects.
Executive affirms that Executive has not filed, caused to be filed, or presently is a party to any claim, complaint, or action against the Bank or NP Bank in any forum or form.
NPB owns directly all of the outstanding capital stock of NP Bank.
With the exception of this Agreement, Executive specifically acknowledges and agrees that he is not a participant in, nor is he entitled to any benefits pursuant to, any severance pay plan maintained or administered by Bank or NP Bank.
NP Bank is an eligible bank, as defined in 12 C.F.R. Section 5.3(g), and NPB and NP Bank will take all reasonable steps necessary to use a streamlined merger application and obtain an expedited review of the Merger from the OCC, as contemplated by 12 C.F.R. Sections 5.33(i) and (j).
Neither NPB nor NP Bank shall have violated, or taken any action to renounce or repudiate, the Employment Agreements.