Accounting and Tax Treatment. Each of the Parties undertakes and agrees to use its reasonable best efforts to cause the Merger to qualify, and to take no action which would cause the Merger to not qualify, for treatment as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code for federal income tax purposes. FNB and Promistar undertake and agree to use their respective reasonable best efforts to cause the Merger to qualify, and to take no action that would cause the Merger to not qualify, for pooling-of-interests accounting treatment.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (FNB Corp/Fl/), Agreement and Plan of Merger (Promistar Financial Corp)
Accounting and Tax Treatment. Each of the Parties undertakes and agrees to use its reasonable best efforts to cause the Merger to qualifyqualify for, and to take no action which would cause the Merger not to not qualifyqualify for, for pooling-of-interests accounting treatment and treatment as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code for federal income tax purposes. FNB and Promistar undertake and agree to use their respective reasonable best efforts to cause the Merger to qualify, and to take no action that would cause the Merger to not qualify, for pooling-of-interests accounting treatment.
Appears in 1 contract
Samples: Agreement and Plan of Merger (United Security Bancshares Inc)
Accounting and Tax Treatment. Each of the Parties undertakes and agrees to use its reasonable best efforts to cause the Merger to qualify, and to take no action which would cause the Merger not to not qualify, for treatment as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code for federal income tax purposes. FNB Each of the Parties further undertakes and Promistar undertake and agree agrees to use their respective its reasonable best efforts to cause the Merger to qualifybe eligible, and to take no action that which would cause the Merger not to not qualify, be accounted for pooling-of-interests accounting treatmentas a "pooling of interests."
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Premier Bancshares Inc /Ga)
Accounting and Tax Treatment. Each of the Parties undertakes and agrees to use its reasonable best efforts to cause the Merger to qualify, and to take no action which would cause the Merger not to not qualify, for treatment as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code for federal income tax purposes. FNB Each of the Parties further undertakes and Promistar undertake and agree agrees to use their respective its reasonable best efforts to cause the Merger to qualifybe eligible, and to take no action that which would cause the Merger not to not qualifybe eligible, to be accounted for pooling-of-interests accounting treatmentas a "pooling of interests."
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Central & Southern Holding Co/Ga)