AVCT definition
Examples of AVCT in a sentence
Alliance (other than Alliance Bank and AVCT) and Alliance Bank (do not have any subsidiaries, including financial subsidiaries, and do not own any capital stock or other equity interests in any entity (including, without limitation, active or inactive corporations, partnerships, joint ventures, trusts and limited liability companies).
Purchaser shall have the option, at its sole discretion, to extend the Transition Period for one additional 30 day period (the “Extended Term”) by giving written notice to AVCT at least five (5) business days prior to the expiry of the initial Transition Period.
Notwithstanding the provisions of Section 7.8 of the Credit Agreement to the contrary, the Required Lenders hereby consent to the Equity Exchange Transaction; provided, that (a) the Equity Exchange Transaction shall occur on or before December 11, 2020 and (b) as of the closing date of the Equity Exchange Transaction, no cash consideration shall be paid by the Loan Parties or their Subsidiaries in connection with the acquisition by Holdings of the Capital Stock of AVCT.
For the avoidance of doubt, the foregoing release does not apply to any obligation of the AVCT Releasees incurred under any of the Existing Agreements or agreements entered into after the date hereof, and does not apply to the Settlement Agreement, Warrant Termination Agreement, Stock Redemption Agreement or Termination and Wind Down Agreement.
The AVCT Parties will timely pay RCOCI’s fees and expenses as required pursuant thereto.
Calian to provide current IT Support for AVCT and/or its subsidiaries at no cost for ninety (90) days and quotes will be provided by Calian Corp.
WFBI acknowledges that AVCT holds subordinated debentures issued by Alliance and has issued preferred securities which are intended to be “qualified trust preferred securities” as defined in applicable regulatory capital guidelines, or which are eligible for such treatment as grandfathered trust preferred securities.
Alliance (other than Alliance Bank and AVCT) and Alliance Bank do not have any subsidiaries, including financial subsidiaries, and do not own any capital stock or other equity interests in any entity (including, without limitation, active or inactive corporations, partnerships, joint ventures, trusts and limited liability companies).
Eagle acknowledges that AVCT holds subordinated debentures issued by Alliance and has issued preferred securities which are intended to be “qualified trust preferred securities” as defined in applicable regulatory capital guidelines, or which are eligible for such treatment as grandfathered trust preferred securities.
None of the outstanding shares of Alliance Common Stock, and none of the Floating Rate MMCapS (liquidation amount $1,000 per Capital Security) issued by AVCT, were issued in violation of the Securities Act, applicable state securities or blue sky laws.