USB Bank definition
Examples of USB Bank in a sentence
Prior to the Effective Time of the Share Exchange, ▇▇▇▇▇ shall take, or cause to be taken, all steps reasonably requested by USB to cure any deficiencies in regulatory compliance by ▇▇▇▇▇; provided that neither USB nor USB- Bank shall be responsible for discovering any defects.
USB Bank shall be the surviving bank (the "Surviving Subsidiary").
Subject to required approvals from applicable Regulatory Authorities, at the Effective Time of the Merger, and contingent upon the occurrence of the Merger, First Bank and Trust ("First Bank"), an Alabama state bank and a wholly-owned subsidiary of FBI, shall be merged with and into United Security Bank ("USB Bank"), an Alabama state bank and the wholly-owned subsidiary of USB (the "Subsidiary Merger").
The charter and bylaws of USB Bank in effect immediately prior to the Effective Time shall be the charter and bylaws of the Surviving Subsidiary, until otherwise amended or repealed.
The directors of the Surviving Subsidiary shall include six directors selected from the Boards of Directors of each of First Bank and USB Bank, as determined by the Board of Directors of the Surviving Corporation.
The Board of Directors of each of First Bank and USB Bank, and FBI and USB, as the sole shareholders of First Bank and USB Bank, respectively, shall approve the Subsidiary Merger prior to the Effective Time.