REDEMPTION OF COMPANY STOCK. As soon as practicable after the Effective Date of the Reorganization, the Company shall redeem any shares of Company Stock which may have been issued prior to the Effective Date of the Reorganization at a redemption price equal to the same consideration paid for such shares, so that immediately after such redemption the then outstanding shares of Company Stock shall consist solely of the shares to be issued by the Company upon the conversion of shares of Bank Stock as provided herein.
Appears in 3 contracts
Samples: Merger Agreement, Merger Agreement (Piedmont Community Bank Group, Inc.), Merger Agreement and Plan of Reorganization (Mountain Valley Bancshares Inc)
REDEMPTION OF COMPANY STOCK. As soon as practicable after the Effective Date of the Reorganization, the Company shall redeem any shares of Company Stock which may have been issued prior to the Effective Date of the Reorganization at a redemption price equal to the same consideration paid for such shares, so that immediately after such redemption the then outstanding shares of Company Stock shall consist solely of the shares to be issued by the Company upon the conversion exchange of shares of Bank Stock as provided herein.
Appears in 3 contracts
Samples: Plan of Reorganization (Alliance Bancshares Inc), Plan of Reorganization (Alliance Bancshares Inc), Plan of Reorganization (Mountain National Bancshares Inc)
