Common use of Investment of Trust Assets Clause in Contracts

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 shares of Common Stock, representing 2% of the aggregate shares of Common Stock sold by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: First Colorado Bancorp Inc

AutoNDA by SimpleDocs

Investment of Trust Assets. Following approval ratification of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee may shall purchase shares of Common Stock in the open market or, in the alternative, may shall purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Guthrie Savings Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 173,632 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Guaranty Federal Bancshares Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 30,820 shares of Common Stock, Stock representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization mutual-to-stock conversion of the Savings Bank Association ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: NCF Financial Corp /De/

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 15,400 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Steelton Bancorp Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 108,154 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion")Conversion to parties other than FloridaFirst Bancorp. The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Restricted Stock (Floridafirst Bancorp)

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 85,000 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold by issued and outstanding of the Parent in the Holding Company reorganization as of the Savings Bank ("Conversion")date of adoption of the Plan. The Trustee may purchase shares of Common Stock in the open open-market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Harrodsburg First Financial Bancorp Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 111,625 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). Conversion to parties other than FloridaFirst Bancorp, Inc. The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Floridafirst Bancorp Inc

AutoNDA by SimpleDocs

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's ’s assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 13,224 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Esb Financial Corp

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 37,950 shares of Common Stock, Stock representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee may shall purchase shares of Common Stock in the open market or, in the alternative, may shall purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: GFSB Bancorp Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 58,190 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization of the Savings Bank ("Conversion"). The Trustee may purchase shares of Common Stock in the open market or, in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Afsala Bancorp Inc

Investment of Trust Assets. Following approval of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 shares 22,823 share of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee may shall purchase shares of Common Stock in the open market or, in the alternative, may shall purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Swva Bancshares Inc

Investment of Trust Assets. Following approval ratification of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 268,075 shares of Common Stock, representing 24% of the aggregate shares of Common Stock sold issued by the Parent in the Holding Company reorganization mutual-to-stock conversion of the Savings Bank ("Conversion") (i.e., 23,805 shares of Common Stock). The Trustee may shall purchase shares of Common Stock in the open market or, in the alternative, may shall purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Beckley Bancorp Inc

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!