Negative Covenants and Dividend Covenants. (a) 1st United agrees that from the date hereof to the Effective Time, except as otherwise approved by Valley in writing (such approval not to be unreasonably withheld, conditioned or delayed, it being agreed that such approval shall be deemed to have been given, in the case of subsections (viii), (xi) and (xii) below, if Valley has not responded to 1st United’s written request by the close of business on the second (2nd) business day following receipt of such request, and, in the case of subsections (iv) and (v) below, if Valley has not responded to 1st United’s written request by the close of business on the fifth (5th) business day following receipt of such request), or as otherwise permitted or required by this Agreement, it will not, nor will it permit any of its Significant Subsidiaries to:
Appears in 2 contracts
Samples: Agreement and Plan of Merger (1st United Bancorp, Inc.), Agreement and Plan of Merger (Valley National Bancorp)
Negative Covenants and Dividend Covenants. (a) 1st United State Bancorp agrees that from the date hereof to the Effective Time, except as otherwise approved by Valley in writing (such approval not to be unreasonably withheld, conditioned or delayed, it being agreed that such approval shall be deemed to have been given, in the case of subsections (viii), (xi) and (xii) below, if Valley has not responded to 1st UnitedState Bancorp’s written request by the close of business on the second (2nd) business day following receipt of such request, and, in the case of subsections (iv) and (v) below, if Valley has not responded to 1st UnitedState Bancorp’s written request by the close of business on the fifth (5th) business day following receipt of such request), or as otherwise permitted or required by this Agreement, it will not, nor will it permit any of its Significant Subsidiaries to:
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Valley National Bancorp), Agreement and Plan of Merger (State Bancorp Inc)
Negative Covenants and Dividend Covenants. (a) 1st United Bancshares agrees that from the date hereof to the Effective Time, except as otherwise approved by Valley in writing (such approval not to be unreasonably withheld, conditioned or delayed, it being agreed that such approval shall be deemed to have been given, in the case of subsections (viii), (xi) and (xii) below, if Valley has not responded to 1st United’s Bancshares’ written request by the close of business on the second (2nd) business day following receipt of such request, and, in the case of subsections (iv) and (v) below, if Valley has not responded to 1st United’s Bancshares’ written request by the close of business on the fifth (5th) business day following receipt of such request), ) or as otherwise permitted or required by this Agreement, it will not, nor will it permit any of its Significant Subsidiaries to:
Appears in 1 contract
Samples: Agreement and Plan of Merger (Valley National Bancorp)
