Common use of Operation of Agreement Clause in Contracts

Operation of Agreement. This Agreement shall be effective immediately upon its execution by the parties hereto, but anything in this Agreement to the contrary notwithstanding, neither the Agreement nor any provision hereof shall be operative unless, during the term of this Agreement, there has been a Change in Control of the Corporation or of the Bank. Upon such a Change in Control of the Corporation or of the Bank during the term of this Agreement, all of the provisions hereof shall become operative immediately.

Appears in 9 contracts

Samples: Change in Control Agreement (McIntosh Bancshares Inc /Ga/), Change in Control Agreement (McIntosh Bancshares Inc /Ga/), Change in Control Agreement (McIntosh Bancshares Inc /Ga/)

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Operation of Agreement. This Agreement shall be effective --------- -- --------- immediately upon its execution by the parties heretoparties, but notwithstanding anything in this Agreement to the contrary notwithstandingcontained herein, neither the Agreement nor any provision hereof shall be operative unless, during the term provisions of this Agreement, there has been agreement concerning employment shall not become operative unless and until a Change change in Control control of the Corporation or Bank, as that term is defined herein, shall occur and Executive is, on the date of such change in control, an employee of the Bank. Upon such a Change change in Control control of the Corporation or of the Bank during the term of Bank, this Agreement, Agreement and all of the provisions hereof contained herein shall become operative immediately.

Appears in 3 contracts

Samples: Executive Employment Agreement (Commercial Bancshares Inc /Wv/), Employment Agreement (Commercial Bancshares Inc /Wv/), Executive Employment Agreement (Commercial Bancshares Inc /Wv/)

Operation of Agreement. This Agreement shall be effective immediately upon its execution by the parties heretoparties, but but, anything in this Agreement to the contrary notwithstanding, neither the Agreement nor any provision hereof of it shall be operative unless, during the term of this Agreement, unless and until there has been a Change change in Control control of the Corporation or of the BankCompany as defined in paragraph 2 below. Upon such the occurrence of a Change change in Control control of the Corporation or of the Bank during the term of Company, this Agreement, Agreement and all of the provisions hereof thereof shall become operative immediately.

Appears in 3 contracts

Samples: Change of Control Agreement (CNB Bancshares Inc), Change of Control Agreement (CNB Bancshares Inc), Change of Control Agreement (CNB Bancshares Inc)

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Operation of Agreement. This Agreement shall be effective immediately upon its execution by the parties hereto, but anything in this Agreement to the contrary notwithstanding, neither the Agreement nor any provision hereof shall be operative unless, unless during the term of this Agreement, there has been a Change in Control of the Corporation or of the BankCorporation, as defined in Article III below. Upon such a Change in Control of the Corporation or of the Bank Corporation, during the term of this Agreement, all of the provisions hereof shall become operative immediately.

Appears in 1 contract

Samples: Employment Agreement (Century South Banks Inc)

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