Restructuring Efforts. If Target shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that neither Party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party or its shareholders) and to resubmit the transaction to Target’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.
Appears in 2 contracts
Sources: Merger Agreement (Community Capital Corp /Sc/), Merger Agreement (Park Sterling Corp)
Restructuring Efforts. If Target First Charter shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties parties shall in good faith use its reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that neither Party party shall have any obligation to alter or change the amount or kind of the Merger Consideration in a manner adverse to such Party party or its shareholders) and to resubmit the transaction to TargetFirst Charter’s shareholders for approval, with the timing of such resubmission to be determined at the request of BuyerFifth Third.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (First Charter Corp /Nc/), Merger Agreement (First Charter Corp /Nc/)
Restructuring Efforts. If Target Seller shall have failed to obtain the requisite vote or votes of its shareholders for the consummation of the transactions contemplated by this Agreement at a duly held meeting of its shareholders or at any adjournment or postponement thereof, then, unless this Agreement shall have been terminated pursuant to its terms, each of the Parties shall in good faith use its commercially reasonable best efforts to negotiate a restructuring of the transaction provided for herein (it being understood that neither no Party shall have any obligation to alter or change the amount or kind of the Common Stock Merger Consideration in a manner adverse to such Party or its shareholders) and to resubmit the transaction to TargetSeller’s shareholders for approval, with the timing of such resubmission to be determined at the request of Buyer.
Appears in 1 contract
Sources: Merger Agreement (BNC Bancorp)