GBFC definition
Examples of GBFC in a sentence
In the event -------------------- that 50% of the issued and outstanding shares of the Bank or its parent, GBFC, excluding the shares set aside pursuant to an incentive stock option plan, are acquired by any one entity or person, or group of persons or entities acting in concert which are not shareholders on the effective date of this Agreement, the Executive shall have certain rights, as follows.
The Transferor shall pay to the Administrative Agent for a Conduit Investor or, in the case of GBFC, to such Conduit Investor, for the account of such Conduit Investor, in connection with any assignment by such Conduit Investor to the Bank Investors in its Related Group pursuant to this Section 9.7, an aggregate amount equal to all Discount to accrue through the end of each outstanding Tranche Period plus all other Aggregate Unpaids (other than the Net Investment) owing to such Conduit Investor.
The parties hereto are amending and restating the Original Agreement in order to add GBFC and Atlantic, respectively, as Conduit Purchasers hereunder and BLB and CL, respectively, as the respective Purchaser Agent for the related Conduit Purchaser.
TLSI will also make its outside accountants and their work papers available to GBFC to assist in GBFC's due diligence.
In order to conduct such investigation, GBFC shall have full access to all documents concerning TLSI, including, but not limited to, all books, records (including financial and accounting books and records), reports, files, financial information, payroll records, operating leases, real property records (including any and all environmental reports or documents), documents evidencing pending or threatened litigation and claims, corporate records, employee benefit plans, and all employment contracts.
Notwithstanding anything to the contrary above, however, the Company and GBFC expressly acknowledge and agree that the Employee is semi-retired and that his duties as an employee hereunder shall be limited to providing consultation and advice to the Company from time to time.
Notwithstanding the preceding sentence, the Company may assign this agreement without the consent of the Employee to any related entity in connection with a reorganization or restructuring of the Company or GBFC.
The GBFC Common Stock to be issued at Closing shall be valued based upon the average closing price of GBFC's Common Stock for the five (5) trading days ending on the date of the execution of this Letter of Derm▇▇ ▇.
All notices, demands, and other communications made in respect of this Agreement (other than a request for a loan or advance or other financial accommodation under the Revolving Credit) shall be made to the following addresses, each of which may be changed upon seven (7) days written notice to all others given by certified mail, return receipt requested: If to the Administrative Agent: GBFC, Inc.
This Letter of Intent shall continue in effect so long as GBFC is proceeding diligently toward completion of the proposed transaction, provided that either party may terminate this Letter of Intent upon written notice to the other party at any time after February 1, 1997, if a definitive agreement shall not have been executed by such date.