CBC Act definition

CBC Act means the Change in Bank Control Act of 1978, as amended, and the rules and regulations promulgated thereunder.

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CBC Act means Change in Bank Control Act of 1978, as amended.

CBC Act means the Change in Bank Control Act of 1978, as amended, and all related rules, regulations, and published guidance promulgated thereunder. “Cash Consideration” has the meaning set forth in Section 2.01(a). “Closing” has the meaning set forth in Section 2.02(a). “Closing Date” has the meaning set forth in Section 2.02(a). “Code” means the Internal Revenue Code of 1986. “Company 401(k) Plan” has the meaning set forth in Section 4.08(f). “Company Bank” means Westfield Bank, FSB, a federal savings bank, and a wholly owned Subsidiary of Company. “Company Benefit Plans” has the meaning set forth in Section 3.01(n)(i). “Company Contract” has the meaning set forth in Section 3.01(h)(i). “Company Information” means information concerning current or prospective clients, customers, accounts or otherwise related to the business of the Company or any of its Subsidiaries as conducted immediately prior to the Closing Date. “Company Intellectual Property” means Intellectual Property owned by Company or any of its Subsidiaries as of the Closing Date. “Company Owned Property” has the meaning set forth in Section 3.01(i). “Company Real Property” has the meaning set forth in Section 3.01(i).

Examples of CBC Act in a sentence

• To the extent required by law, the Investor shall file as promptly as practicable a notice to the Federal Reserve pursuant to the CBC Act with respect to the transactions contemplated by this Agreement and shall take commercially reasonable actions to obtain the non-objection of the Federal Reserve under the CBC Act, it being understood that failure to obtain such non-objection shall not impose any liability on the Investor.

• To the extent required by law, the Investors shall file as promptly as practicable a notice to the Federal Reserve pursuant to the CBC Act with respect to the transactions contemplated by this Agreement and shall take commercially reasonable actions to obtain the non-objection of the Federal Reserve under the CBC Act, it being understood that failure to obtain such non-objection shall not impose any liability on any Investor.

• Upon the receipt of any such written notice, Lender shall first exercise one of the Warrants, to the maximum extent permitted under the BHC Act and the CBC Act without Federal Reserve Board Approval (in minimum increments of $100,000), before exercising its rights under the other Warrant.

• The parties hereby agree that neither any Investor nor any of its Affiliates shall be required by this Agreement to file any notice to the Federal Reserve pursuant to the CBC Act with respect to the transactions contemplated by this Agreement.

• For the avoidance of doubt, Investor shall have no obligation to dispose of Parent Common Stock or any securities or rights, options, or warrants to purchase Parent Common Stock, or securities of any type whatsoever to avoid a CBC Act Effect and have no obligation to avoid a CBC Act Effect.

• Such written notice shall contain information or documentation reasonably sufficient to enable Lender to determine the extent to which the Warrants may be exercised under the BHC Act and the CBC Act without Federal Reserve Board Approval.

• As promptly as practicable after the date hereof, counsel to the Investor will file with the Federal Reserve a notice pursuant to the CBC Act with respect to the transactions contemplated by this Agreement.

• To the extent required by the transactions contemplated by this Agreement and shall take commercially reasonable actions (including arranging for any required public notice and entering into usual and customary commitments with the Federal Reserve regarding passivity) to obtain the non-objection of the Federal Reserve under the CBC Act, it being understood that failure to obtain such non-objection, prior to the Outside Date or at all, shall not impose any liability on the Investor.