Common use of Closing Delay Clause in Contracts

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date shall not have occurred on or before March 31, 2002, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b) shall not be available to either party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date to occur on or before such date.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Virginia Financial Corp), Agreement and Plan of Reorganization (Virginia Commonwealth Financial Corp)

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Closing Delay. At the election of either party, evidenced ------------- by written notice, if the Effective Date Closing shall not have occurred on or before March January 31, 20021999, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 2 contracts

Samples: Reorganization and Merger Agreement (Ambanc Holding Co Inc), Reorganization and Merger Agreement (Afsala Bancorp Inc)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Time shall not have occurred on or before March 31June 30, 20022006, or such later date as shall have been agreed to in writing by the parties; provided, however, provided that the right to terminate under this Section 7.1(b6.1(b) shall not be available to either party whose failure to perform an obligation hereunder has been the a substantial contributing cause ofto, or has resulted in, the failure of the Effective Date Time to occur on or before such date.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Community First Financial Corp), Agreement and Plan of Reorganization (American National Bankshares Inc)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date shall not have occurred on or before March December 31, 2002, 2011 or such later date as shall have been agreed to in writing by the parties; provided, however, provided that the right to terminate under this Section 7.1(b) shall not be available to either party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, caused the failure of the Effective Date to occur on or before such date.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Midcarolina Financial Corp), Agreement and Plan of Reorganization (American National Bankshares Inc)

Closing Delay. At the election of either party, ------------- evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March January 31, 20021999, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Ambanc Holding Co Inc)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date shall not have occurred on or before March 3110, 20022001, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b6.1(b) shall not be available to either party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date to occur on or before such date.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (F&m National Corp)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March August 31, 20021998, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Perpetual Midwest Financial Inc)

Closing Delay. At the election of either party, evidenced by ------------- written notice, if the Effective Date Closing shall not have occurred on or before March 31, 20021999, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall -------- ------- not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Commercial Federal Corp)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March 31, 20022000, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Green Street Financial Corp)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Time shall not have occurred on or before March July 31, 20022006, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.1(b) shall not be available to either party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Time to occur on or before such date.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Union Bankshares Corp)

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Closing Delay. At the election of either party, as evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March December 31, 20022000, or such later date as shall have been agreed to in writing by the parties; , provided, however, that the right to terminate under this Section 7.1(bSECTION 6.1(B) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Agreement and Plan of Consolidation (Southern Michigan Bancorp Inc)

Closing Delay. At the election of either ------------- party, evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March 31, 20022000, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Newsouth Bancorp Inc)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March December 31, 20021998, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before the date of such datewritten notice.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Cecil Bancorp Inc)

Closing Delay. At the election of either party, evidenced by written notice, if the Effective Date Closing shall not have occurred on or before March 31May 1, 20021998, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b5.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before such date.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Mid Continent Bancshares Inc /Ks/)

Closing Delay. At the election of either party, evidenced by written -------------- notice, if the Effective Closing Date shall not have occurred on or before March 31September 30, 20022004, or such later date as shall have been agreed to in writing by the parties; provided, however, that the right to terminate under this Section 7.1(b6.4(b) shall not be available to either any party whose failure to perform an obligation hereunder has been the cause of, or has resulted in, the failure of the Effective Date Closing to occur on or before the date of such datewritten notice.

Appears in 1 contract

Samples: Reorganization and Merger Agreement (Patapsco Bancorp Inc)

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