EVBS definition
Examples of EVBS in a sentence
At the Effective Date, the Continuing Corporation shall assume the EVBS Stock Plans; provided that such assumption shall only be with respect to the Assumed Options, and the Continuing Corporation shall have no obligation to make any additional grants or awards under the EVBS Stock Plans.
Other than as provided for herein, following the termination of this Agreement, there shall be no further liabilities or obligations hereunder on the part of the Shareholder, SONA or EVBS, or their respective officers or directors, except that nothing in this Section 6 shall relieve any party hereto from any liability for breach of this Agreement before such termination.
The obligations of EVBS and SONA to effect the Merger as herein provided shall be subject to satisfaction, unless duly waived, of the conditions set forth in the Agreement.
In the event an election is revoked prior to the Election Deadline, the shares of EVBS Series B Preferred Stock represented by such Election Form shall become “No Election Shares,” and the holders of such No Election Shares shall be deemed to have made an election to receive the Continuing Corporation Common Stock, except to the extent a subsequent election is properly made with respect to any or all of such shares of EVBS Series B Preferred Stock prior to the Election Deadline.
In the event of any stock split, stock dividend, merger, exchange, reorganization, recapitalization or other change in the capital structure of EVBS affecting the Shares, the number of Shares subject to the terms of this Agreement shall be appropriately adjusted, and this Agreement and the obligations hereunder shall attach to any additional securities of EVBS issued to or acquired by the Shareholder.
Prior to the Effective Date, SONA shall appoint an exchange and paying agent reasonably acceptable to EVBS (the “Exchange Agent”) for the payment and exchange of the Merger Consideration.
The Merger Agreement provides for the merger of FCB with and into EVBS (the “Merger”).
The separate corporate existence of EVBS thereupon shall cease, and SONA will be the surviving corporation in the Merger (SONA as existing on and after the Effective Date is sometimes referred to herein as the “Continuing Corporation” whenever reference is made to it as of the Effective Date or thereafter).
SONA shall be responsible for the form of supplemental indenture, which form shall be reasonably acceptable to EVBS.
Without limiting the generality of the foregoing, from and after the Effective Date, the Continuing Corporation shall possess all rights, privileges, properties, immunities, powers and franchises of EVBS, and all of the debts, liabilities, obligations, claims, restrictions and duties of EVBS shall become the debts, liabilities, obligations, claims, restrictions and duties of the Continuing Corporation.