Common use of Dividend Reinvestment Clause in Contracts

Dividend Reinvestment. The Company shall take all such necessary action to terminate the Company’s Dividend Reinvestment Plan (the “DRIP”) effective promptly after the date of this Agreement (taking into account any Company dividends that have been declared but not yet paid as of the date hereof). In addition, upon the effective termination of the DRIP, the Company shall distribute all shares of Company Common Stock and the value of all cash held in participant’s plan accounts in accordance with the terms of the DRIP.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Abington Bancorp, Inc./Pa), Agreement and Plan of Merger (Susquehanna Bancshares Inc)

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Dividend Reinvestment. The Company shall take all such necessary action to terminate the Company’s Dividend Reinvestment Plan (the “DRIP”) effective promptly as soon as possible after the date of this Agreement (taking into account any Company dividends that have been declared but not yet paid as of the date hereof). In addition, upon the effective termination of the DRIP, the Company shall distribute all shares of Company Common Stock and the value of all cash held in participant’s plan accounts in accordance with the terms of the DRIP.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Susquehanna Bancshares Inc), Agreement and Plan of Merger (Community Banks Inc /Pa/)

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Dividend Reinvestment. The Company shall take all such necessary action to terminate suspend the Company’s Dividend Reinvestment Plan (acceptance of dividends and other contributions of participants in the “DRIP”) DRIP effective promptly after the date of this Agreement (taking into account any Company dividends that have been declared but not yet paid as of the date hereof). In addition, upon prior to the effective termination of the DRIPEffective Time, the Company shall take such action as is necessary to terminate the DRIP and shall distribute all shares of Company Common Stock and the value of all cash held in participant’s plan accounts in accordance with the terms of the DRIP.

Appears in 1 contract

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

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