Common use of Irrevocable Proxies Clause in Contracts

Irrevocable Proxies. Concurrent with the execution hereof, TARGET ------------------- shall obtain and deliver to PURCHASER irrevocable proxies in substantially the form of Exhibit 4 hereto from each member of TARGET'S Board of Directors and from certain other affiliates of TARGET, which proxies represent not less than 55% of the outstanding shares of TARGET Common Stock.

Appears in 2 contracts

Sources: Merger Agreement (Abc Bancorp), Merger Agreement (Abc Bancorp)

Irrevocable Proxies. Concurrent with the execution hereof, TARGET ------------------- shall obtain and deliver to PURCHASER irrevocable proxies in substantially the form of Exhibit 4 6 hereto from each member Affiliates of TARGET'S Board of Directors and from certain other affiliates of TARGET, which proxies represent not less than 55TARGET holding in the aggregate 51% of the outstanding shares of Outstanding TARGET Common StockShares.

Appears in 1 contract

Sources: Merger Agreement (Abc Bancorp)