Common use of Rights of Dissenting Shareholders Clause in Contracts

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company of intent to demand payment in accordance with Section 55-13-21 of the NCBCA; (b) who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined pursuant to Article 13 of the NCBCA. However, any holder of Dissenting Shares who fails to perfect or withdraws or loses his or her rights to appraisal of such Dissenting Shares under the NCBCA shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company Bank of intent to demand payment in accordance with Section 5500-1300-21 000 of the NCBCA; (b) TBCA, who demands payment and deposits share certificates in accordance with Section 5500-1300-23 000 of the NCBCA; TBCA, and (c) who otherwise perfects rights of appraisal under Article 13 Chapter 23 of the NCBCA TBCA (the "“Dissenting Shares"”) shall not be exchanged for the Exchange Consideration consideration set forth in Section 1.01 of this Agreement but shall become the right to receive such consideration as may be determined to be due in respect of such Dissenting Shares pursuant to Article 13 Chapter 23 of the NCBCA. HoweverTBCA; provided, however, that any holder of Dissenting Shares who fails shall have failed to perfect or withdraws shall have withdrawn or loses lost his or her rights to appraisal of such Dissenting Shares Shares, in each case under the NCBCA TBCA, shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Considerationconsideration set forth in Section 1.01 of this Agreement. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 31.06, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's ’s Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company Bank of intent to demand payment in accordance with Section 55-13-21 of the NCBCA; (b) who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined pursuant to Article 13 of the NCBCA. However, any holder of Dissenting Shares who fails to perfect or withdraws or loses his or her rights to appraisal of such Dissenting Shares under the NCBCA shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company Bank of intent to demand payment in accordance with Section 55-13-21 of 21of the NCBCA; (b) who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined pursuant to Article 13 of the NCBCA. However, any holder of Dissenting Shares who fails to perfect or withdraws or loses his or her rights to appraisal of such Dissenting Shares under the NCBCA shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company of intent to demand payment in accordance with Section 55-13-21 of the NCBCA; (b) , who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; , and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined to be due in respect of such Dissenting Shares pursuant to Article 13 of the NCBCA. However; provided, however, that any holder of Dissenting Shares who fails shall have failed to perfect or withdraws shall have withdrawn or loses lost his or her rights to appraisal of such Dissenting Shares Shares, in each case under the NCBCA NCBCA, shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this --------------------------------- Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company of intent to demand payment in accordance with Section 55-13-21 of 21of the NCBCA; (b) who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined pursuant to Article 13 of the NCBCA. However, any holder of Dissenting Shares who fails to perfect or withdraws or loses his or her rights to appraisal of such Dissenting Shares under the NCBCA shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the Bank, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.

Rights of Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Bank Stock which are held by any record holder who (a) does not vote in favor of the Share Exchange or consent thereto in writing and who gives timely written notice to the Holding Company of intent to demand payment in accordance with Section 55-13-21 of the NCBCA; (b) , who demands payment and deposits share certificates in accordance with Section 55-13-23 of the NCBCA; , and (c) who otherwise perfects rights of appraisal under Article 13 of the NCBCA (the "Dissenting Shares") shall not be exchanged for the Exchange Consideration but shall become the right to receive such consideration as may be determined to be due in respect of such Dissenting Shares pursuant to Article 13 of the NCBCA. However; provided, however, that any holder of Dissenting Shares who fails shall have failed to perfect or withdraws shall have withdrawn or loses lost his or her rights to appraisal of such Dissenting Shares Shares, in each case under the NCBCA NCBCA, shall forfeit the right to appraisal of such Dissenting Shares, and such Dissenting Shares shall be deemed to have been exchanged, as of the Effective Time, for the Exchange Consideration. Any such payments to the holders of Dissenting Shares shall be paid from funds of the BankCompany, and not from funds of the Holding Company. Notwithstanding anything to the contrary contained in this Section SECTION 3, if (i) the Share Exchange is rescinded or abandoned or (ii) if the Shareholders revoke the authority to effect the Share Exchange, then the right of any Shareholder to be paid the fair value of such Shareholder's Dissenting Shares shall cease.