Interim Merger means the merger of CTB Interim Corporation into CFSB.
Examples of Interim Merger in a sentence
The officers of the Surviving Bank shall consist of the same individuals who served as the officers of MBC Interim Bank immediately prior to the Effective Time of the Interim Merger, until such time as their successors have been elected and qualified.
All of the (i) 100 outstanding shares of common stock of MBC Interim Bank, no par value, and (ii) the Middlefield Liberty Stock, shall be cancelled for no additional consideration in connection with the Interim Merger.
The Articles of Association and By Laws of Liberty Bank in effect immediately prior to the effectiveness of the Interim Merger shall be and remain the Articles of Association and By Laws of the Surviving Bank without change, until the same shall be amended or replaced as therein provided.
FEDERAL RESERVE: Prior notice to, and approval or waiver of, the Board of Governors of the Federal Reserve System may be required to effect the Interim Merger (since Nara Bank will be the parent of Asiana for a short time).
Bancshares shall have merged with and into Bank, with all outstanding shares of Bank Common Stock being transferred to shareholders of Bancshares immediately prior to the Interim Merger.