Common use of CHANGE IN CONTROL OF THE BANK Clause in Contracts

CHANGE IN CONTROL OF THE BANK. For purposes of this Agreement, a ------ -- ------- -- --- ---- "change in control of the Bank" shall be deemed to have occurred if (i) any person or any combination of persons, partnerships, associations or other non- corporate entities acting as a group in concert, (other than the Bank, the Board of Directors of the Bank or the Board of Directors of the Holding Company, which for purposes hereof shall not without more be considered a group), owns or becomes the beneficial owner, directly or indirectly, of securities of the Bank or securities of the Holding Company representing 51% or more of the combined voting power of the Bank's or the Holding Company's then outstanding securities, or (ii) if the Bank or the Holding Company is acquired by a corporation or the Bank's assets or the Holding Company's assets are combined with or transferred to another bank or bank holding company, as the case may be, and less than a majority of the outstanding voting shares of the acquiring or surviving bank or holding company, as the case may be, after such acquisition, combination or transfer are owned, immediately after such acquisition, combination or transfer, by the owners of the voting shares of the Bank and Holding Company outstanding immediately prior to such acquisition, combination or transfer.

CHANGE IN CONTROL OF THE BANK. For purposes of this Agreement, a ------ -- ------- -- --- ---- a "change in control of the Bank" shall be deemed to have occurred if (i) any person or any combination of persons, partnerships, associations or other non- corporate entities acting as a group in concert, (other than the Bank, the Board of Directors of the Bank or the Board of Directors of the Holding Company, which for purposes hereof shall not without more be considered a group), owns or becomes the beneficial owner, directly or indirectly, of securities of the Bank or securities of the Holding Company representing 51% or more of the combined voting power of the Bank's or the Holding Company's then outstanding securities, or (ii) if the Bank or the Holding Company is acquired by a corporation or the Bank's assets or the Holding Company's assets are combined with or transferred to another bank or bank holding company, as the case may be, and less than a majority of the outstanding voting shares of the acquiring or surviving bank or holding company, as the case may be, after such acquisition, combination or transfer are owned, immediately after such acquisition, combination or transfer, by the owners of the voting shares of the Bank and Holding Company outstanding immediately prior to such acquisition, combination or transfer.