Common use of Investment of Trust Assets Clause in Contracts

Investment of Trust Assets. The Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 shares of Common Stock. The Trustee may purchase shares of Common Stock in the open market, from authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Plan and Trust Agreement (Se Financial Corp)

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Investment of Trust Assets. The Following approval of the Plan by stockholders of the Savings Bank 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 cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 31,067 shares of Common Stock. The Trustee may purchase shares of Common Stock in the open marketmarket or, from in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Restricted Stock (Roebling Financial Corp, Inc.)

Investment of Trust Assets. The Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 than, 25,902 shares of Common Stock, representing 4% of the aggregate shares of Common Stock issued by the Savings Bank to parties other than Eureka Bancorp, MHC. The Trustee may purchase shares of Common Stock in the open marketmarket or, from in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Eureka Financial Corp

Investment of Trust Assets. The Following 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 cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 16,203 shares of Common Stock. The Trustee may purchase shares of Common Stock in the open marketmarket or, from in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Bucs Financial Corp

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Investment of Trust Assets. The Following 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 cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 30,300 shares of Common Stock. The Trustee may purchase shares of Common Stock in the open marketmarket or, from in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Reserve Bancorp Inc

Investment of Trust Assets. The 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 cash assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 91,455 45,967 shares of Common Stock. The Trustee may purchase shares of Common Stock in the open marketmarket or, from in the alternative, may purchase authorized but unissued shares of the Common Stock or treasury shares from the Parent, or from any grantor trust of the Parent or the Bank that is established from time to time for purposes of funding stock compensation plans of the Parent or the Bank in an amount sufficient to fund the Plan Share Reserve.

Appears in 1 contract

Samples: Restricted Stock Plan and Trust Agreement (Osage Bancshares, Inc.)

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