Common use of Dividends; Interest Clause in Contracts

Dividends; Interest. (a) No shareholder of the Company will be entitled to receive dividends on his or her Zions Bancorp Stock until he or she exchanges his or her certificates representing Company Common Stock for Zions Bancorp Stock. Any dividends declared on Zions Bancorp Stock (which stock is to be delivered pursuant to this Agreement) to holders of record on or after the Effective Date shall be paid to the Exchange Agent (as designated in Section 1.5 of this Agreement) and, upon receipt of the certificates representing shares of Company Common Stock, the Exchange Agent shall forward to the former shareholders entitled to receive Zions Bancorp Stock (i) certificates representing their shares of Zions Bancorp Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 1.3(a) hereof. (a) No shareholder of the Bank will be entitled to receive dividends on his or her Valley Common Stock until he or she exchanges his or her certificates representing Bank Common Stock for Valley Common Stock. Any dividends declared on Valley Common Stock (which stock is to be delivered pursuant to this Agreement) to holders of record on or after the Effective Date shall be paid to the Exchange Agent (as designated in Section 1.5 of this Agreement) and, upon receipt of the certificates representing shares of Bank Common Stock, the Exchange Agent shall forward to the former shareholders entitled to receive Valley Common Stock (i) certificates representing their shares of Valley Common Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 1.3(b) hereof.

Dividends; Interest. (a) No shareholder of the Company will be entitled to receive dividends on his or her Zions Bancorp Stock until he or she exchanges his or her certificates representing Company Common Stock for Zions Bancorp Stock. Any dividends declared on Zions Bancorp Stock (which stock is to be delivered pursuant to this Agreement) to holders of record on or after the Effective Date shall be paid to the Exchange Agent (as designated in Section 1.5 of this Agreement) and, upon receipt of the certificates representing shares of Company Common Stock, the Exchange Agent shall forward to the former shareholders entitled to receive Zions Bancorp Stock (i) certificates representing their shares of Zions Bancorp Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 1.3(a) hereof. (ab) No shareholder of the Bank or of Valley will be entitled to receive dividends on his or her Valley Consolidated Association Common Stock until he or she exchanges his or her certificates representing Bank Common Stock or Valley Common Stock, as the case may be, for Valley Consolidated Association Common Stock. Any dividends declared on Valley Consolidated Association Common Stock (which stock is to be delivered pursuant to this Agreement) to holders of record on or after the Effective Date shall be paid to the Exchange Agent (as designated in Section 1.5 of this Agreement) and, upon receipt of the certificates representing shares of Bank Common Stock or Valley Common Stock, as the case may be, the Exchange Agent shall forward to the former shareholders entitled to receive Valley Consolidated Association Common Stock (i) certificates representing their shares of Valley Consolidated Association Common Stock, (ii) dividends declared thereon subsequent to the Effective Date (without interest) and (iii) the cash value of any fractional shares determined in accordance with Section 1.3(b) hereof.