Common use of Bank Merger Clause in Contracts

Bank Merger. If the Bank merges or consolidates with or into another entity, or transfers substantially all of the assets of the Bank to another entity, the Agreement shall be continued by the surviving entity resulting from such merger or consolidation, or the entity to which the assets have been transferred, and such entity shall succeed to all rights, powers and duties of the Bank hereunder. If the Director's employment is continued by such successor, the Director shall be deemed not to have a Termination of Service with the Bank for any purposes of this Agreement on account of such merger, consolidation or transfer of assets unless and until the Director's employment with such successor employer is terminated. In the case of any of the foregoing events, such successor employer shall be treated as the "Bank" under this Agreement effective as of the effective date of such event. ARTICLE 4.

Bank Merger. If the Bank merges or consolidates with or into another entity, or transfers substantially all of the assets of the Bank to another entity, the Agreement shall be continued by the surviving entity resulting from such merger or consolidation, or the entity to which the assets have been transferred, and such entity shall succeed to all rights, powers and duties of the Bank hereunder. If the DirectorEmployee's employment is continued by such successor, the Director Employee shall be deemed not to have a Termination of Service Employment with the Bank for any purposes of this Agreement on account of such merger, consolidation or transfer of assets unless and until the DirectorEmployee's employment with such successor employer is terminated. In the case of any of the foregoing events, such successor employer shall be treated as the "Bank" under this Agreement effective as of the effective date of such event. ARTICLE 4.

Bank Merger. If the Bank merges or consolidates with or into another entity, or transfers substantially all of the assets of the Bank to another entity, the Agreement shall be continued by the surviving entity resulting from such merger or consolidation, or the entity to which the assets have been transferred, and such entity shall succeed to all rights, powers and duties of the Bank hereunder. If the Director's employment is continued by such successor, the Director shall be deemed not to have a Termination of Service with the Bank for any purposes of this Agreement on account of such merger, consolidation or transfer of assets unless and until the Director's employment with such successor employer is terminated. In the case of any of the foregoing events, such successor employer shall be treated as the "Bank" under this Agreement effective as of the effective date of such event. ARTICLE 45.