Stock of Subsidiary. The shares of common stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall he converted into a number of shares of common stock of Surviving National Bank equal to the number of shares of common stock of the Bank outstanding immediately prior to the Effective Date.
Stock of Subsidiary. The shares of common stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and exchanged by Holding Company for 100 shares of fully paid common stock of Bank as the Surviving Corporation.
Stock of Subsidiary. Sell or otherwise dispose of any shares of ------------------- capital stock of the Subsidiary or permit the Subsidiary to issue any additional shares of its capital stock.
Stock of Subsidiary. Transfer any shares of capital stock of any Subsidiary, except in connection with a transaction permitted by Section 7.2(z).
Stock of Subsidiary. Issue or sell any stock of any Subsidiary, ------------------- except (i) to the minimum extent required by any applicable Law to enable any individual to serve as a director of such Subsidiary, (ii) as a dividend to the shareholders of such Subsidiary and (iii) to the Borrower or to another Subsidiary; or
Stock of Subsidiary. Each share of capital stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and become one share of Common Stock of the Surviving Corporation. Each such share of Common Stock issued pursuant to this Section 2.1 shall be fully-paid and non-assessable.
Stock of Subsidiary. At the close of business at the Effective Time, ------------------- each share of common stock of Subsidiary issued and outstanding immediately prior thereto shall, by virtue of the Merger described herein, be deemed to be exchanged for and converted into one fully paid and nonassessable share of common stock of the Bank as the Surviving Corporation.
Stock of Subsidiary. Transfer of any of the equity interest of any Subsidiary (including the Borrower (except with respect to the possible transaction with SoftNet pursuant to the term sheet attached hereto as Exhibit A)). Issue any additional equity interests in the Borrower.
Stock of Subsidiary. Borrower will not permit any subsidiary to issue any additional shares of its capital stock.
Stock of Subsidiary. Upon the merger becoming effective, the shares of capital stock of Subsidiary issued and outstanding immediately prior to the Effective Date shall thereupon be converted into and exchanged by the Holding Company for 100 shares of fully paid and nonassessable common stock of the Bank as the Surviving Corporation.
