Common use of Continuity of Interest Clause in Contracts

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, ▇▇▇▇▇▇▇▇, Taff & ▇▇▇▇▇▇▇ LLP, respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 2 contracts

Sources: Merger Agreement (Emclaire Financial Corp), Merger Agreement (Emclaire Financial Corp)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, S.R. ▇▇▇▇▇▇▇▇▇, Taff & ▇▇▇▇▇▇▇ LLPP.C., respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 2 contracts

Sources: Merger Agreement (Farmers National Banc Corp /Oh/), Merger Agreement (Cortland Bancorp Inc)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c7.3(d) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, ▇▇▇▇▇▇▇▇, Taff Halter & ▇▇▇▇▇▇▇ LLP, respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease decreasing the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 1 contract

Sources: Merger Agreement (Farmers National Banc Corp /Oh/)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, ▇▇▇▇▇▇▇▇, Taff Ingersoll & ▇▇▇▇▇▇▇ LLPRooney PC, respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease decreasing the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 1 contract

Sources: Merger Agreement (Farmers National Banc Corp /Oh/)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, Taff ▇▇▇ & ▇▇▇▇▇▇▇ LLP▇▇, Ltd., respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease decreasing the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 1 contract

Sources: Merger Agreement (Farmers National Banc Corp /Oh/)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c8.02(c) or 7.3(cSection 8.03(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, ▇▇▇▇▇ & ▇▇▇▇, Taff & ▇▇▇▇▇▇▇ LLP, respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser Parent shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Parent Common Shares Stock on the last trading day prior to the Closing Date), and decrease the Cash Consideration, ) to the minimum extent necessary to enable the relevant tax opinion to be renderedrendered and make corresponding adjustments to the amount of the Per Share Cash Consideration, the Per Share Escrow Amount and/or the amount of any Additional Consideration as appropriate.

Appears in 1 contract

Sources: Merger Agreement (Chesapeake Utilities Corp)

Continuity of Interest. Notwithstanding anything in this Agreement to the contrary, if either of the tax opinions referred to in Section 7.2(c) or 7.3(c) cannot be rendered (as reasonably determined by Vorys, ▇▇▇▇▇, ▇▇▇▇▇▇▇ and ▇▇▇▇▇ LLP or Silver, ▇▇▇▇▇▇▇▇, Taff & ▇▇▇▇▇▇▇ & Berne LLP, respectively) as a result of the Merger potentially failing to satisfy the “continuity of interest” requirements under applicable federal income tax principles relating to reorganizations under Section 368(a) of the Code, then Purchaser shall increase the Stock Consideration (applying the closing price of shares of the Purchaser Common Shares on the last trading day prior to the Closing Date), and decrease decreasing the Cash Consideration, to the minimum extent necessary to enable the relevant tax opinion to be rendered.

Appears in 1 contract

Sources: Merger Agreement (Farmers National Banc Corp /Oh/)