Common use of Purchase Permitted by Applicable Laws; Legal Investment Clause in Contracts

Purchase Permitted by Applicable Laws; Legal Investment. The purchase of and payment for the Capital Securities shall (a) not be prohibited by any applicable law or governmental regulation, (b) not subject the Purchaser or the Placement Agents to any penalty or, in the reasonable judgment of the Purchaser and the Placement Agents, other onerous condition under or pursuant to any applicable law or governmental regulation, and (c) be permitted by the laws and regulations of the jurisdictions to which the Purchaser and the Placement Agents are subject.

Appears in 2 contracts

Samples: Placement Agreement (Center Bancorp Inc), Subscription Agreement (Redwood Empire Bancorp)

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Purchase Permitted by Applicable Laws; Legal Investment. The purchase of and payment for the Capital Securities shall (a) shall not be prohibited by any applicable law or governmental regulation, (b) shall not subject the Purchaser or the Placement Agents to any penalty or, in the reasonable judgment of the Purchaser and the Placement Agents, other onerous condition under or pursuant to any applicable law or governmental regulation, and (c) shall be permitted by the laws and regulations of the jurisdictions to which the Purchaser and the Placement Agents are is subject.

Appears in 1 contract

Samples: Placement Agreement (MCB Financial Corp)

Purchase Permitted by Applicable Laws; Legal Investment. The purchase of and payment for the Capital Securities as described in this Agreement and pursuant to the Subscription Agreements shall (a) not be prohibited by any applicable law or governmental regulation, (b) not subject the Purchaser or the Placement Agents Offerors to any penalty or, in the reasonable judgment of the Purchaser and the Placement AgentsOfferors, other onerous condition conditions under or pursuant to any applicable law or governmental regulation, and (c) be permitted by the laws and regulations of the jurisdictions to which the Purchaser and the Placement Agents Offerors are subject.

Appears in 1 contract

Samples: Placement Agreement (MortgageIT Holdings, Inc.)

Purchase Permitted by Applicable Laws; Legal Investment. The purchase of and payment for the Capital Securities shall (a) not be prohibited by any applicable law or governmental regulation, (b) not subject the Purchaser or the Placement Agents to any penalty or, in the reasonable judgment of the Purchaser and the Placement AgentsPurchaser, other onerous condition conditions under or pursuant to any applicable law or governmental regulation, and (c) be permitted by the laws and regulations of the jurisdictions to which the Purchaser and the Placement Agents are is subject.

Appears in 1 contract

Samples: Southcoast Financial Corp

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Purchase Permitted by Applicable Laws; Legal Investment. The purchase ------------------------------------------------------- of and payment for the Capital Securities shall (a) not be prohibited by any applicable law or governmental regulation, (b) not subject the Purchaser or the Placement Agents to any penalty or, in the reasonable judgment of the Purchaser and the Placement Agents, other onerous condition under or pursuant to any applicable law or governmental regulation, and (c) be permitted by the laws and regulations of the jurisdictions to which the Purchaser and the Placement Agents are subject.

Appears in 1 contract

Samples: Subscription Agreement (Florida Banks Inc)

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