Common use of Common Control Clause in Contracts

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank). The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 6 contracts

Sources: Stock Purchase Agreement (CoastalSouth Bancshares, Inc.), Stock Purchase Agreement (CoastalSouth Bancshares, Inc.), Stock Purchase Agreement (CoastalSouth Bancshares, Inc.)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 3 contracts

Sources: Stock Purchase Agreement (RMB Capital Management, LLC), Stock Purchase Agreement (Bank of the Carolinas CORP), Securities Purchase Agreement (Customers Bancorp, Inc.)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y (12 CFR C.F.R. Part 225) (“BHC Act BHCA Control”)) of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y). The Company is not in BHC Act BHCA Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act BHCA Control of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent (5%) of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 2 contracts

Sources: Stock Purchase Agreement (Tri-County Financial Group, Inc.), Securities Purchase Agreement (Castle Creek Capital Partners VI, LP)

Common Control. The Company is not and, after giving effect to the offering and sale of the Common Shares, will not be under the control (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act BHCA Control”)) of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y). The Company is not in BHC Act BHCA Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act BHCA Control of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (institution, other than the Company with respect to Company’s interest in the Bank). The Bank is not subject to the potential liability of with respect to any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 2 contracts

Sources: Stock Purchase Agreement (Atlantic Capital Bancshares, Inc.), Stock Purchase Agreement (First Security Group Inc/Tn)

Common Control. The Company is not and, after giving effect to the offering and sale of the Common Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank). The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 2 contracts

Sources: Securities Purchase Agreement (Live Oak Bancshares, Inc.), Securities Purchase Agreement (Live Oak Bancshares, Inc.)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act BHCA and the Federal Reserve’s 's Regulation Y (12 CFR C.F.R. Part 225) (“BHC Act "BHCA Control”)") of any company (as defined in the BHC Act BHCA and the Federal Reserve’s 's Regulation Y). The Company is not in BHC Act BHCA Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act BHCA Control of any company (as defined in the BHC Act BHCA and the Federal Reserve’s 's Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Stock Purchase Agreement (Trinity Capital Corp)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (institution, other than the Company with respect to Company’s ownership of the Bank). The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Securities Purchase Agreement (Fidelity Southern Corp)

Common Control. The Company is not and, and after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR C.F.R. Part 225)) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank any of its Subsidiaries controls, in the aggregate, 5% or more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Securities Purchase Agreement (California BanCorp)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than institution, except, in the Company with respect to case of the Company, the Bank). The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Securities Purchase Agreement (Codorus Valley Bancorp Inc)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (institution, other than the Company with respect to Company’s ownership interest in the Bank). The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Securities Purchase Agreement (Bankwell Financial Group, Inc.)

Common Control. The Company is not and, after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y (12 CFR C.F.R. Part 225) (“BHC Act BHCA Control”)) of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y). The Company is not in BHC Act BHCA Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act BHCA Control of any company (as defined in the BHC Act BHCA and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Stock Purchase Agreement (Southern States Bancshares, Inc.)

Common Control. The Company is not and, to the Company’s Knowledge after giving effect to the offering and sale of the Shares, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part 225) (“BHC Act Control”)) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than the Company. Neither the Company nor the Bank controls, in the aggregate, more than five percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution (other than the Company with respect to the Bank)institution. The Bank is not subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance Act (12 U.S.C. § 1815(e)).

Appears in 1 contract

Sources: Securities Purchase Agreement (Grandsouth Bancorporation)