Change In Control Definition Example with 12 Variations

This page contains an example definition of Change In Control, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Change In Control. Shall mean the occurrence of any of the following events: (i) Merger: The Company or the Bank merges into or consolidates with another entity, or merges another bank or corporation into the Bank or the Company, and as a result, less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company or the Bank immediately before the merger or consolidation; (ii) Acquisition of... Significant Share Ownership: There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company's or the Bank's voting securities; provided, however, this clause (ii) shall not apply to beneficial ownership of the Company's or the Bank's voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; (iii) Change in Board Composition: Individuals who constitute the Company's or the Bank's Board of Directors on the Effective Date hereof (the "Incumbent Board") cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board shall be considered, for purposes of this clause (iii), as though he or she was a member of the Incumbent Board; or (iv) Sale of Assets: The Company or the Bank sells to a third party all or substantially all of its assets. View More Arrow
Found in New Bancorp, Inc. contract

Variations

Change In Control. Shall For purposes of this Agreement, the term "Change in Control" shall mean the occurrence of any of the following events: (i) Merger: The Company or the Bank merges into or consolidates with another entity, or merges another bank or corporation into the Bank or the Company, and as a result, less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company or the Bank immediately... before the merger or consolidation; (ii) Acquisition of Significant Share Ownership: There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company's or the Bank's voting securities; provided, however, this clause (ii) shall not apply to beneficial ownership of the Company's or the Bank's voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; (iii) Change in Board Composition: Individuals During any period of two (2) consecutive years, individuals who constitute the Company's or the Bank's Board of Directors on at the Effective Date hereof (the "Incumbent Board") beginning of the two-year period cease for any reason to constitute at least a majority thereof, provided of the Company's Board of Directors; provided, however, that any person becoming a for purposes of this clause (iii), each director subsequent to who is first elected by the Effective Date whose board (or first nominated by the board for election was approved by the stockholders) by a vote of at least three-quarters two-thirds (2/3) of the directors comprising who were directors at the Incumbent Board beginning of the two-year period or who is appointed to the board as the result of a directive, supervisory agreement or order issued by the primary federal regulator of the Company or by the Federal Deposit Insurance Corporation ("FDIC") shall be considered, for purposes deemed to have also been a director at the beginning of this clause (iii), as though he or she was a member of the Incumbent Board; such period; or (iv) Sale of Assets: The Company or the Bank sells to a third party all or substantially all of its assets. View More Arrow
Found in Bancorp 34, Inc. contract
Change In Control. Shall mean the occurrence of any of the following events: (i) (1) Merger: The Company or the Bank Association merges into or consolidates with another entity, or merges another bank or corporation into the Bank Association or the Company, and as a result, less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company or the Bank Association immediately before the merger or... consolidation; (ii) (2) Acquisition of Significant Share Ownership: There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company's or the Bank's Association's voting securities; provided, however, this clause (ii) (b) shall not apply to beneficial ownership of the Company's or the Bank's Association's voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities; (iii) (3) Change in Board Composition: Individuals During any period of two consecutive years, individuals who constitute the Company's or the Bank's Association's Board of Directors on at the Effective Date hereof (the "Incumbent Board") beginning of the two-year period cease for any reason to constitute at least a majority thereof, provided of the Company's or the Association's Board of Directors; provided, however, that any person becoming a for purposes of this clause (c), each director subsequent to who is first elected by the Effective Date whose board (or first nominated by the board for election was approved by the stockholders or corporators) by a vote of at least three-quarters two-thirds (2/3) of the directors comprising who were directors at the Incumbent Board beginning of the two-year period shall be considered, for purposes deemed to have also been a director at the beginning of this clause (iii), as though he such period; or she was a member of the Incumbent Board; or (iv) (4) Sale of Assets: The Company or the Bank Association sells to a third party all or substantially all of its assets. View More Arrow
Found in 3 Contracts from Poage Bankshares, Inc.
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