Common use of Sale and Delivery of the Shares Clause in Contracts

Sale and Delivery of the Shares. On the basis ------------------------------------------------------ of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company and the Association hereby employ Trident as their agent to utilize its best efforts to assist the Company with the Company's sale of the Shares in the Offerings, and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate (a) forty- five (45) days after the Subscription and Community Offering closes, unless the Company and the Association, with the approval of the OTS, are permitted to extend such period of time, or (b) upon consummation of the Conversion, whichever date shall first occur. In the event the Company is unable to sell a minimum of 191,250 Shares (or such lesser amount as the OTS may permit) within the period herein provided, this Agreement shall terminate, and the Company and the Association shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the Prospectus, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections 6, 8, 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-bearing accounts with the Association until all Shares are sold and paid for will be made prior to the commencement of the Subscription and Community Offering, with provision for prompt refund to the purchasers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following the Closing Date against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the Company, 000 Xxxxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxxxxxx 00000, or at such other place as shall be agreed upon between the parties hereto. The date upon which the Company shall release or deliver the Shares sold in the Offerings, in accordance with the terms hereof, is herein called the "Closing Date." Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's behalf, (ii) Trident will mail acknowledgements of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i), and (iv) Trident will forward completed order forms together with such funds to the Association on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. Trident shall receive the following compensation and expense reimbursement for its services hereunder:

Appears in 1 contract

Samples: Sales Agency Agreement (Ifb Holdings Inc)

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Sale and Delivery of the Shares. On the basis ------------------------------------------------------ ------------------------------------------------------- of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company and the Association Bank hereby employ Trident as their agent to utilize its best efforts to assist in assisting the Company with the Company's sale of the Shares in the Offerings, Subscription Offering and Trident hereby accepts such employmentCommunity Offering. The employment of Trident hereunder shall terminate (a) forty- forty-five (45) days after the Subscription and Community Offering closes, unless the Company and the AssociationBank, with the approval of the OTS, are permitted to extend such period of time, or (b) upon consummation of the Conversion, whichever date shall first occur. In the event the Company is unable to sell a minimum of 191,250 4,845,000 Shares (or such lesser amount as the OTS may permit) within the period herein provided, this Agreement shall terminate, and the Company and the Association Bank shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the Prospectus, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections Section 6, 8, 8 and 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-interest- bearing accounts with the Association Bank until all Shares are sold and paid for will be were made prior to the commencement of the Subscription and Community Offering, with provision for prompt refund to the purchasers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following the Closing Date against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the Company, Company at 000 Xxxxxxxxxx Xxxx Xxxxxxx Xxxxxx, XxxxxxxxxxxXxxxxxxxxxxx, Xxxxxxxx 00000, Xxxxxxxxx 00000 or at such other place as shall be agreed upon between the parties hereto. The date upon which the Company shall release or deliver the Shares sold in the Offerings, Offerings in accordance with the terms hereof, hereof is herein called the "Closing Date." Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association Bank for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's behalf, (ii) Trident will mail acknowledgements acknowledgments of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third fifth business day ("debit date") following receipt of the confirmation referred to in (i), ) and (iv) Trident will forward completed order forms together with such funds to the Association Bank on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. In addition to the expenses specified in Section 6 hereof, Trident shall receive the following compensation and expense reimbursement for its services hereunder:

Appears in 1 contract

Samples: Sales Agency Agreement (Cavalry Bancorp Inc)

Sale and Delivery of the Shares. On the basis ------------------------------------------------------ of the representations and warranties herein contained, but subject Subject to the terms and conditions herein set forth, the Company and the Association hereby employ appoint Trident (i) as their exclusive financial advisory and marketing agent to utilize its best efforts to solicit subscriptions for Shares of the Common Stock and to advise and assist the Company and the Association with respect to the Company's sale of the Shares in the Offerings, Subscription and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate Community Offering and (aii) forty- five (45) days after to participate in the Subscription and Community Offering closesin the areas of market making, unless research coverage and syndicate formation (if necessary). On the basis of the representations, warranties, and agreements herein contained, but subject to the terms and conditions herein set forth, Trident accepts such appointment and agrees to consult with and advise the Company and the AssociationAssociation as to the matters set forth in the letter agreement ("Letter Agreement"), dated March 31, 1998, between the Association and Trident (a copy of which is attached hereto as Exhibit A). It is acknowledged by the Company and the Association that Trident shall not be required to purchase any Shares and shall not be obligated to take any action which is inconsistent with all applicable laws, regulations, decisions or orders. In the approval event of a Syndicated Community Subscription and Community Offering, Trident will assemble and manage a selling group of broker-dealers which are members of the OTSNational Association of Securities Dealers, are permitted Inc. (the "NASD") to extend such period participate in the solicitation of timepurchase orders for shares under a selected dealers' agreement ("Selected Dealers' Agreement"), the form of which is set forth as Exhibit B to this Agreement. The obligations of Trident pursuant to this Agreement shall terminate upon the completion or (b) upon consummation termination or abandonment of the ConversionPlan by the Company or upon termination of the Subscription and Community Offering, whichever but in no event later than the date shall first occur(the "End Date") which is 45 days after the Closing Date (as hereinafter defined). All fees or expenses due to Trident but unpaid will be payable to Trident in next day funds at the earlier of the Closing Date (as hereinafter defined) or the End Date. In the event the Subscription and Community Offering is extended beyond the End Date, the Company, the Association and Trident may agree to renew this Agreement under mutually acceptable terms. In the event the Company is unable to sell a minimum of 191,250 __________ Shares having an aggregate price of $1,530,000 (or such lesser amount as approved by the OTS may permitOTS) within the period herein provided, this Agreement shall terminate, terminate and the Company and the Association shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with them plus accrued interest as provided set forth in the Prospectus, ; and no party none of the parties to this Agreement shall have any obligation to the other party parties hereunder, except as otherwise set forth in this Section 2 and in Sections 6, 8, 8 and 9 and 10 hereof. Appropriate arrangements for placing In the funds received from subscriptions for Shares in special interest-bearing accounts with the Association until all Shares are sold and paid for will be made prior to the commencement of event the Subscription and Community Offering, with provision Offering is terminated for prompt refund any reason not attributable to the purchasers as set forth aboveaction or inaction of Trident, or for delivery Trident shall be paid the fees and expenses due to the Company if all Shares are solddate of such termination pursuant to subparagraphs (a) and (d) below. If all conditions precedent to the consummation of the Conversion are satisfiedConversion, including including, without limitation, the sale of all Shares required by the Plan to be sold, are satisfied, the Company agrees to issue issue, or have issued such issued, the Shares sold in the Subscription and Community Offering and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following the Closing Date (as hereinafter defined) against payment to the Company by any means authorized pursuant by the Plan, provided however, that no funds shall be released to the ProspectusCompany until the conditions specified in Section 7 hereof shall have been complied with to the reasonable satisfaction of Trident and its counsel. The release of Shares against payment therefor shall be made at _.m., Central Time, on a date and at the principal office of a place acceptable to the Company, 000 Xxxxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxxxxxx 00000, the Association and Trident or at such other time or place as shall be agreed upon between by the parties heretoCompany, the Association and Trident. Certificates for shares shall be delivered directly to the purchasers in accordance with their directions. The date upon which the Company shall release or deliver deliver, or have released or delivered, the Shares sold in the OfferingsSubscription and Community Offering, in accordance with the terms hereofherein, is herein called the "Closing Date." Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's behalf, (ii) Trident will mail acknowledgements of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i), and (iv) Trident will forward completed order forms together with such funds to the Association on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. Trident shall receive the following compensation and expense reimbursement for its their services hereunder:

Appears in 1 contract

Samples: Agency Agreement (First Independence Corp /De/)

Sale and Delivery of the Shares. On the ------------------------------------------------------ basis ------------------------------------------------------ of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company Company, the MHC and the Association Bank hereby employ Trident as their agent to utilize its best efforts to assist the Company with the Company's sale of the Shares in the Offerings, and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate (a) forty- five (45) days after the Subscription and Community Offering closes, unless the Company and the Association, with the approval of the OTS, are permitted to extend such period of time, or (b) upon consummation of the Conversion, whichever date shall first occur. In the event the Company is unable to sell a minimum of 191,250 1,482,835 Shares (or such lesser amount number as the OTS Banking Department may permit) within the period herein provided, this Agreement shall terminate, and the Company Company, the MHC and the Association Bank shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the ProspectusPlan, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections 6, 8, and 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-bearing accounts with the Association Bank until all Shares are sold and paid for will be were made prior to the commencement of the Subscription and Community OfferingOfferings, with provision for prompt refund to the purchasers subscribers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion Reorganization are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following promptly after the Closing Date Date. Such release for delivery shall be against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the Company, Company at 000 Xxxxxxxxxx Xxxx Xxxxxx, XxxxxxxxxxxXxxxxx, Xxxxxxxx 00000, Xxx Xxxx 00000 or at such other place as shall be agreed upon between among the parties hereto. The date upon which Trident is paid the Company shall release or deliver the Shares sold in the Offerings, in accordance with the terms hereof, compensation due hereunder is herein called the "Closing Date." Trident may assemble and manage a selling group of broker-dealers, which are members of the NASD, to participate in the solicitation of orders for Common Stock in the event of the Syndicated Community Offering. In such event, Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association Bank for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's subscribers behalf, (ii) Trident will mail acknowledgements acknowledgments of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i), and (iv) Trident will forward completed order forms together with such funds to the Association Bank on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in clause (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. In addition to the expenses specified in Section 6 hereof, Trident shall receive the following compensation and expense reimbursement for its services hereunderhereunder upon completion and closing of the Reorganization and the Offerings:

Appears in 1 contract

Samples: Sales Agency Agreement (Oneida Financial Corp)

Sale and Delivery of the Shares. On the basis ------------------------------------------------------ of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company Company, MHC and the Association Bank hereby employ Trident FBR as their agent its agents to utilize its best their efforts to assist in assisting the Company with the Company's sale of the Shares in the Offerings, and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate (a) forty- five (45) days after the Subscription Offering and Community Offering closes, unless the Company and the Association, with the approval of the OTS, are permitted to extend such period of time, or (b) upon consummation of the Conversion, whichever date shall first occurOffering. In the event the Company is unable to sell a minimum of 191,250 814,249 Shares (or such lesser amount as the OTS Department may permit) within the period herein provided, this Agreement shall terminate, and the Company Company, MHC and the Association Bank shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the Prospectus, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections 6, 8, 8(a) and 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-bearing accounts with the Association Bank until all Shares are sold and paid for will be were made prior to the commencement of the Subscription and Community Offering, with provision for prompt refund to the purchasers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion Reorganization are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following the Closing Date against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the CompanyCompany at 000 Xxxx xxx Xxxxxx Xxxxxxx, 000 Xxxxxxxxxx XxxxxxXxxxxxxx, Xxxxxxxxxxx, Xxxxxxxx 00000, Xxx Xxxx 00000 or at such other place as shall be agreed upon between the parties hereto. The date upon which FBR is paid the Company shall release or deliver the Shares sold in the Offerings, in accordance with the terms hereof, compensation due hereunder is herein called the "Closing Date." Trident FBR agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident FBR to the Association Bank for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident FBR will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's subscribers behalf, (ii) Trident FBR will mail acknowledgements acknowledgments of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident FBR will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i)M, and (iv) Trident FBR will forward completed order forms together with such funds to the Association Bank on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident FBR acknowledges that if the procedure in (b) is adopted, subscribers' , funds are not required to be in their accounts until the debit date. Trident In addition to the expenses specified in Section 6 hereof, FBR shall receive the following compensation and expense reimbursement for its services hereunder:

Appears in 1 contract

Samples: Sales Agency Agreement (Greene County Bancorp Inc)

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Sale and Delivery of the Shares. On the basis ------------------------------------------------------ of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company and the Association Bank hereby employ Trident as their agent to utilize its best efforts to assist in assisting the Company with the Company's sale of the Shares in the Offerings, and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate (a) forty- five (45) days after the Subscription Offering and Community Offering closes, unless Offering. If the Company and the Association, with the approval of the OTS, are permitted to extend such period of timeConversion is not consummated for any reason, or (b) upon consummation if the Conversion is consummated without using the services of Trident, Trident shall be entitled to retain the Conversionfees received up to the time that the Conversion is terminated or Trident's services no longer are utilized. Under the agreement with Trident, whichever date shall first occurthe Savings Bank is also obligated to indemnify Trident against certain liabilities and expenses, including legal fees, to which Trident may become subject in connection with its engagement. In the event the Company is unable to sell a minimum of 191,250 93,500 Shares (or such lesser amount as the OTS Commissioner with the FDIC may permit) within the period herein provided, this Agreement shall terminate, and the Company and the Association Bank shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the Prospectus, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections 6, 8, 8 and 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-bearing accounts with the Association Bank until all Shares are sold and paid for will be were made prior to the commencement of the Subscription and Community OfferingOfferings, with provision for prompt refund to the purchasers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following promptly after the Closing Date against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the Company, Company at 000 Xxxxxxxxxx X. Xxxxx Xxxxxx, XxxxxxxxxxxXxxxx Xxxxx, Xxxxxxxx 00000, Illinois 61818 or at such other place as shall be agreed upon between the parties hereto. The date upon which Trident is paid the Company shall release or deliver the Shares sold in the Offerings, in accordance with the terms hereof, compensation due hereunder is herein called the "Closing Date." Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association Bank for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's subscribers behalf, (ii) Trident will mail acknowledgements acknowledgments of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i), and (iv) Trident will forward completed order forms together with such funds to the Association Bank on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. In addition to the expenses specified in Section 6 hereof, Trident shall receive the following compensation and expense reimbursement for its services hereunderhereunder upon completion and closing of the Conversion and Offerings:

Appears in 1 contract

Samples: Sales Agency Agreement (Cgb&l Financial Group Inc)

Sale and Delivery of the Shares. On the basis ------------------------------------------------------ of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company Company, the MHC, and the Association Bank hereby employ Trident as their agent to utilize its best efforts to assist the Company with the Company's its sale of the Shares in the Offerings, and Trident hereby accepts such employment. The employment of Trident hereunder shall terminate (a) forty- five (45) days after the Subscription and Community Offering closes, unless the Company and the Association, with the approval of the OTS, are permitted to extend such period of time, or (b) upon consummation of the Conversion, whichever date shall first occur. In the event the Company is unable to sell a minimum of 191,250 765,000 Shares (or such lesser amount as the OTS Division may permit) within the period herein provided, this Agreement shall terminate, and the Company Company, the MHC, and the Association Bank shall refund promptly to any persons who have subscribed for any of the Shares, the full amount which it may have received from them, together with interest as provided in the ProspectusPlan, and no party to this Agreement shall have any obligation to the other party hereunder, except as set forth in Sections 6, 8, and 9 and 10 hereof. Appropriate arrangements for placing the funds received from subscriptions for Shares in special interest-bearing accounts with the Association Bank until all Shares are sold and paid for will be were made prior to the commencement of the Subscription and Community OfferingOfferings, with provision for prompt refund to the purchasers as set forth above, or for delivery to the Company if all Shares are sold. If all conditions precedent to the consummation of the Conversion Reorganization are satisfied, including the sale of all Shares required by the Plan to be sold, the Company agrees to issue or have issued such Shares and to release for delivery certificates to subscribers thereof for such Shares on or as soon as possible following promptly after the Closing Date (as hereinafter defined). Such release for delivery shall be against payment to the Company by any means authorized pursuant to the Prospectus, at the principal office of the Company, 000 Xxxxxxxxxx Company at 00 Xxxx Xxxxxx, XxxxxxxxxxxXxxxxx, Xxxxxxxx 00000, Xxxxxxxxxxxxx 00000 or at such other place as shall be agreed upon between among the parties hereto. The date upon which Trident is paid the Company shall release or deliver the Shares sold in the Offerings, in accordance with the terms hereof, compensation due hereunder is herein called the "Closing Date." Trident may assemble and manage a selling group of broker-dealers, which are members of the NASD, to participate in the solicitation of orders for Common Stock in the event of the Syndicated Community Offering. In such event, Trident agrees either (a) upon receipt of an executed order form of a subscriber to forward the offering price of the Common Stock ordered on or before twelve noon on the next business day following receipt or execution of an order form by Trident to the Association Bank for deposit in a segregated account or (b) to solicit indications of interest in which event (i) Trident will subsequently contact any potential subscriber indicating interest to confirm the interest and give instructions to execute and return an order form or to receive authorization to execute the order form on the subscriber's subscribers behalf, (ii) Trident will mail acknowledgements acknowledgments of receipt of orders to each subscriber confirming interest on the business day following such confirmation, (iii) Trident will debit accounts of such subscribers on the third business day ("debit date") following receipt of the confirmation referred to in (i), and (iv) Trident will forward completed order forms together with such funds to the Association Bank on or before twelve noon on the next business day following the debit date for deposit in a segregated account. Trident acknowledges that if the procedure in clause (b) is adopted, subscribers' funds are not required to be in their accounts until the debit date. In addition to the expenses specified in Section 6 hereof, Trident shall receive the following compensation and expense reimbursement for its services hereunderhereunder upon completion and closing of the Reorganization and the Offerings:

Appears in 1 contract

Samples: Sales Agency Agreement (Service Bancorp Inc)

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