Interim A definition
Examples of Interim A in a sentence
Such application also shall include applications to form Interim A and Interim B.
The MHC will convert into Pulaski ------------------------------------- Interim "A" Bank, a Federal Savings Bank (i.e. "Interim A") and Interim A will simultaneously merge with and into the Savings Bank, with the Savings Bank as the surviving entity ("MHC Merger") pursuant to the Plan of Merger attached hereto as Annex A.
At the time of the merger of Interim A with and into the Bank, the Bank shall establish a liquidation account in an amount equal to the Bank’s stockholder’s equity as of the date of the latest statement of financial condition contained in the final Prospectus utilized in the Conversion.
On the effective date of the Conversion, the MHC shall convert to an interim federal stock savings bank (Interim A) and merge with and into the Bank, and the Bank shall be the surviving entity.
The corporate existence of the Bank shall not terminate, and the Bank shall be a continuation of the savings institution that existed immediately before the merger with Interim A and the merger with Interim B.
Immediately after the conversion of Mutual Holding Company into Interim A and the merger of Interim A with and into the INSTITUTION pursuant to this ▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇ ▇ will merge with and into the INSTITUTION, and the separate existence of Interim B will cease.
In addition, an application to merge Interim A and the Bank and an application to merge Interim B and the Bank shall be filed with the OTS, either as an exhibit to the Application H-(e)1 or H-(e)1-S or separately.
The Conversion Application includes applications to form and merge Interim A and Interim B.
Each person serving as a Corporator of the MHC at the time of the Conversion will cease to hold such office following the conversion of the MHC to Interim A and the merger of Interim A with and into the Bank; the Company will not have a Board of Corporators.
The existing minority stockholders of the Bank will exchange their shares of Bank Common Stock for shares of common stock of the Holding Company based upon an Exchange Ratio established in accordance with the independent appraisal of the Bank upon merger with Interim A, and the remaining shares will be sold in subscription and community offerings, giving priority subscription rights as set forth in the Plan in accordance with OTS conversion regulations.