Certain Interests. Seller’s Disclosure Letter sets forth a description of each instance in which an officer or director of Seller (a) has any material interest in any property, real or personal, tangible or intangible, used by or in connection with the business of Seller; (b) is indebted to Seller except for normal business expense advances; or (c) is a creditor (other than as a deposit holder) of Seller except for amounts due under normal salary and related benefits or reimbursement of ordinary business expenses. Except as set forth in the Seller’s Disclosure Letter, all such arrangements are arm’s length transactions pursuant to normal commercial terms and conditions and comply with all Rules.
Appears in 3 contracts
Samples: Agreement to Merge (Heritage Oaks Bancorp), Agreement to Merge (Mid-State Bancshares), Agreement to Merge (Community Bancorp Inc)
Certain Interests. Seller’s 's Disclosure Letter sets forth a description of each instance in which an officer or director of Seller (a) has any material interest in any property, real or personal, tangible or intangible, used by or in connection with the business of Seller; (b) is indebted to Seller except for normal business expense advances; or (c) is a creditor (other than as a deposit holder) of Seller except for amounts due under normal salary and related benefits or reimbursement of ordinary business expenses. Except as set forth in the Seller’s 's Disclosure Letter, all such arrangements are arm’s 's length transactions pursuant to normal commercial terms and conditions and comply with all Rules.
Appears in 2 contracts
Samples: Agreement to Merge and Plan (Community Bancorp Inc), Merge and Plan of Reorganization (Community Bancorp)
