Other Depositors. The Holding Company may offer the Offer Shares, if any, remaining after the Subscription Offering, in the Community Offering on a priority basis first to natural persons and trusts of natural persons residing in Xxxxxx and Somerset Counties in New Jersey, and then to the Mid-Tier Holding Company’s public stockholders as of the Voting Record Date and then to the general community. In the event a Community Offering is held, it may be held at any time during or immediately after the Subscription Offering. Depending on market conditions, Offer Shares available for sale but not subscribed for in the Subscription Offering or purchased in the Community Offering may be offered in the Syndicated Community Offering to selected members of the general public through a syndicate of registered broker-dealers (“Assisting Brokers”) that are members of the Financial Industry Regulatory Authority (“FINRA”) managed by KBW as the sole book-running manager. It is acknowledged that the number of Offer Shares to be sold in the Offering may be increased or decreased as described in the Prospectus (as hereinafter defined); that the purchase of the Offer Shares in the Offering is subject to minimum and maximum purchase limitations as described in the Plan and the Prospectus; and that the Holding Company may reject, in whole or in part, any subscription received in the Community Offering and the Syndicated Community Offering. The Holding Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a Registration Statement on Form S-1 (File No. 333-202573) in order to register the Shares under the Securities Act of 1933, as amended (the “1933 Act”), and the regulations promulgated thereunder (the “1933 Act Regulations”), and has filed such amendments thereto as have been required to the date hereof (the “Registration Statement”). The prospectus, as amended, included in the Registration Statement at the time it initially became effective is hereinafter called the “Prospectus,” except that if any prospectus is filed by the Holding Company pursuant to Rule 424(b) or (c) of the 1933 Act Regulations differing from the prospectus included in the Registration Statement at the time it initially becomes effective, the
Other Depositors. Residents will be provided 24 hours each to decide whether to accept a first floor unit that becomes available. Depositors will be provided 48 hours each to decide whether to accept a first floor unit that becomes available. If a Depositor indicates an interest in a specific unit within 48 hours, the Depositor will have an additional 24 hours to pay the Chestnut Ridge Community Fee. The unit then will be held available for the Depositor for an additional fourteen (14) days pursuant to the Community Fee Receipt terms attached to this policy. Chestnut Ridge is only required to contact Residents and Depositors on the FFWL once per month for a period of four consecutive months about the available unit within the preferred unit type category selected by the Resident or Depositor. Residents and Depositors will remain on the FFWL until they 1) accept a unit (regardless of whether they move in to the unit); or 2) are offered at least one unit per month for four months within their preferred unit type, whichever comes first. Chestnut Ridge will provide a reasonable accommodation to a Resident or Depositor with a disability for a specific unit on the first floor as may be necessary due to the person’s disability and after receipt of a request.
Other Depositors. Each Other Depositor shall receive, without payment, Subscription Rights to purchase up to $2,000,000 of Conversion Stock in the Subscription Offering (or, if greater, such maximum purchase limitation as may be established for the Syndicated Offering or Public Offering, if any), subject to Sections 5.06 and 5.12 hereof and the availability of shares of Conversion Stock for purchase after taking into account the shares of Conversion Stock purchased by Eligible Account Holders, Tax-Qualified Employee Benefit Plans and Supplemental Eligible Account Holders through the exercise of Subscription Rights under this Section 5.03. If Other Depositors subscribe for a number of shares of Conversion Stock that, when added to the shares of Conversion Stock subscribed for by Eligible Account Holders, Tax-Qualified Employee Stock Benefit Plans and Supplemental Eligible Account Holders, exceeds the total number of shares of Conversion Stock being issued, available shares shall be allocated among subscribing Other Depositors as follows:
