Section 382. Prior to January 1, 2011, without the prior written consent of the Company, which consent will not be unreasonably withheld, no Purchaser shall take any action, including the exercise of any right granted under Section 4.20 of this Agreement or purchase of additional shares of the Company’s Common Stock from and after the Closing Date, if to its knowledge taking such actions would increase such Purchaser’s economic interest in excess of the greater of (i) 4.9%, or (ii) the economic interest such Purchaser held in the Company immediately following the Closing. If the Company withholds its consent, it shall provide the Purchaser with its analysis of the actions proposed to be taken by the Purchaser and the application of the provisions of Section 382 of the Code thereto.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Heritage Commerce Corp), Securities Purchase Agreement (Heritage Commerce Corp)