First Union Clause Samples
The "First Union" clause establishes which party or entity is recognized as the initial union or collective bargaining representative in a contractual or organizational context. Typically, this clause identifies the first labor union that is granted recognition or bargaining rights for a group of employees, often specifying the terms under which this recognition is granted and any limitations on subsequent union representation. By clearly designating the initial union, the clause helps prevent disputes over representation and ensures a smooth process for collective bargaining, thereby providing stability and clarity for both management and employees.
First Union. First Union is a corporation duly organized and existing in good standing under the laws of the State of North Carolina, with its principal executive offices located in Charlotte, North Carolina. As of the date hereof, First Union has 750,000,000 authorized shares of common stock, each of $3.33 1/3 par value (together with the First Union Rights (as hereinafter defined) attached thereto, "First Union Common Stock")), 40,000,000 authorized shares of Class A Preferred Stock, no-par value ("First Union Class A Preferred Stock"), and 10,000,000 authorized shares of Preferred Stock, no-par value ("First Union Preferred Stock") (no other class of capital stock being authorized), of which 270,469,128 shares of First Union Common Stock, 1,895,404 shares of First Union Series B Convertible Class A Preferred Stock and no shares of First Union Preferred Stock, were issued and outstanding as of August 31, 1996.
First Union. First Union is a corporation duly organized and validly ----------- existing in good standing under the laws of the State of North Carolina, with its principal executive offices located in Charlotte, North Carolina. First Union is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. As of the date hereof, First Union has 2,000,000,000 authorized shares of common stock, each of $3.33 1/3 par value ("First Union Common Stock", together with the rights ("First Union Rights") issued pursuant to the Amended and Restated Shareholder Protection Rights Agreement, dated as of October 15, 1996 (the "First Union Rights Agreement") attached thereto), 40,000,000 authorized shares of Class A Preferred Stock, no-par value ("First Union Class A Preferred Stock"), and 10,000,000 authorized shares of Preferred Stock, no-par value ("First Union Preferred Stock") (no other class of capital stock being authorized), of which approximately 968,139,000 shares of First Union Common Stock, no shares of First Union Class A Preferred Stock, and no shares of First Union Preferred Stock, were issued and outstanding as of March 31, 1999. The FUNC Subsidiary is a wholly-owned direct subsidiary of First Union and was organized by First Union solely as a vehicle to effect the Merger (as hereinafter defined) and has engaged in no other business activities and has conducted its operations only as contemplated hereby.
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First Union. As co-trustee of the Tollefson Co-Trusts, First Unio▇ by its execution and delivery of this Agreement hereby authorizes, consents and agrees to the terms of this Agreement and authorizes the Tollefson Trustee to carry out ▇▇▇ ▇▇▇▇▇ hereof by voting the Voting Shares of the Tollefson Co-Trusts in the mann▇▇ ▇▇▇ ▇▇r the purposes set forth herein.
First Union. First Union is a corporation duly organized and validly existing in good standing under the laws of the State of North Carolina, with its principal executive offices located in Charlotte, North Carolina. First Union is registered as a financial holding company and a bank holding company under the Bank Holding Company Act of 1956, as amended.
First Union. The term "First Union" shall mean First Union Corporation of Virginia, a Virginia corporation.
First Union. NATIONAL BANK accepts its reappointment as trustee of the grantor trust continued by this Trust Agreement and agrees to hold all funds which it has received and may receive hereunder, IN TRUST, upon the terms and conditions hereinafter stated; and
First Union. First Union currently is the holder of the existing First Union debt. As part of this credit facility, First Union will become a party to this Agreement. The existing First Union debt will be paid down to $22,500,000. The $22,500,000 balance of the existing First Union debt will then be amended and restated and will become a part of the Term Loans. The note evidencing the existing First Union debt will be amended and restated and will be one of the Term Loan Notes. The First Union Mortgages will be amended and restated to reflect that the indebtedness secured includes the entire amount of the Loan and to release the equipment that is included in the security under the First Union Mortgages.
First Union. The Corporation shall grant First Union and its subsidiaries an irrevocable waiver from the Corporation’s excess share provision set forth in its Articles of Incorporation enabling First Union to own at any time up to 17.5% of the Corporation’s common stock (determined in accordance with Paragraph 5e), or such lesser amount as is required from time to time under applicable rules of the Internal Revenue Code, provided that no one equityholder of First Union is deemed to own more than 8.9% of the outstanding common stock. First Union shall receive at closing of the IPO an opinion of counsel to the Corporation with respect to the valid, binding and enforceable nature of the waiver.