Wake North Carolina Sample Agreement for Purchase and Sale of Stock between QCB Bancorp, Queen City Bank, N.A., and Directors

• Category: Corporations - Public - Sale or Purchase of Capital Stock
• State: Multi-State
• County: Wake
• Control #: US-CC-4-519D
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors Introduction: The Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors outlines the terms and conditions agreed upon by PCB Ban corp, Queen City Bank, N.A., and its Directors for the purchase and sale of stock. This agreement aims to establish a legally binding contract that governs the transaction, ensuring a smooth transfer of ownership and protecting the interests of all parties involved. Several types of Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors may exist, tailored to specific circumstances. Here is a comprehensive overview of the main components and keywords relevant to this agreement. 1. Parties: PCBCB Bancorp: The selling party, represented by its authorized representative(s). — Queen City Bank, N.A.: The purchasing party, represented by its authorized representative(s). — Directors: The individuals who act as shareholders and serve on the Board of Directors of Queen City Bank, N.A. 2. Purchase and Sale of Stock: — Purpose: The agreement covers the sale/purchase of a specific number of shares of stock from PCB Ban corp to Queen City Bank, N.A. — Consideration: The agreed-upon price per share, payment terms, and any contingencies related to the purchase. 3. Representations and Warranties: — Statements: Both parties provide assurances that all information provided during the transaction is true, accurate, and complete. — Financial Statements: Detailed financial information about the stock being sold, including its value, assets, liabilities, and earnings. — Title and Ownership: Confirmation that PCB Ban corp legally owns the stock being sold and has the authority to transfer it. 4. Closing Conditions: — Approvals and Consents: The necessary approvals, consents, and authorizations required from regulatory bodies or any third parties. — Material Adverse Change: Clauses to address potential changes in the financial condition or relevant events that could affect the transaction. — Closing Date: The agreed-upon date when the sale of stock will be completed, including any provisions for an extension or termination. 5. Covenants: — Confidentiality: Both parties commit to maintaining the confidentiality of all non-public information exchanged during the transaction. — Non-Compete/Non-Solicit: Restrictions on the selling party's ability to engage in activities that could compete with Queen City Bank, N.A. or solicit its employees or customers. 6. Indemnification: — Protection: The agreement defines the scope of indemnification for any losses, damages, or liabilities incurred by either party due to a breach of the agreement or misrepresentation. 7. Governing Law and Dispute Resolution: — Choice of Law: The agreement specifies that Wake, North Carolina law governs the interpretation and enforcement of the terms. — Jurisdiction: The appropriate court or arbitration body for settling disputes arising from the agreement is identified. Conclusion: The Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors provides a systematic framework for the purchase and sale of stock in a legally enforceable manner. Tailored to the specific needs of all parties involved, this agreement safeguards their interests and ensures a smooth transition of ownership. It addresses key aspects such as purchase terms, representations, warranties, closing conditions, covenants, indemnification, and the governing law, assuring a fair and transparent transaction.

Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors Introduction: The Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors outlines the terms and conditions agreed upon by PCB Ban corp, Queen City Bank, N.A., and its Directors for the purchase and sale of stock. This agreement aims to establish a legally binding contract that governs the transaction, ensuring a smooth transfer of ownership and protecting the interests of all parties involved. Several types of Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors may exist, tailored to specific circumstances. Here is a comprehensive overview of the main components and keywords relevant to this agreement. 1. Parties: PCBCB Bancorp: The selling party, represented by its authorized representative(s). — Queen City Bank, N.A.: The purchasing party, represented by its authorized representative(s). — Directors: The individuals who act as shareholders and serve on the Board of Directors of Queen City Bank, N.A. 2. Purchase and Sale of Stock: — Purpose: The agreement covers the sale/purchase of a specific number of shares of stock from PCB Ban corp to Queen City Bank, N.A. — Consideration: The agreed-upon price per share, payment terms, and any contingencies related to the purchase. 3. Representations and Warranties: — Statements: Both parties provide assurances that all information provided during the transaction is true, accurate, and complete. — Financial Statements: Detailed financial information about the stock being sold, including its value, assets, liabilities, and earnings. — Title and Ownership: Confirmation that PCB Ban corp legally owns the stock being sold and has the authority to transfer it. 4. Closing Conditions: — Approvals and Consents: The necessary approvals, consents, and authorizations required from regulatory bodies or any third parties. — Material Adverse Change: Clauses to address potential changes in the financial condition or relevant events that could affect the transaction. — Closing Date: The agreed-upon date when the sale of stock will be completed, including any provisions for an extension or termination. 5. Covenants: — Confidentiality: Both parties commit to maintaining the confidentiality of all non-public information exchanged during the transaction. — Non-Compete/Non-Solicit: Restrictions on the selling party's ability to engage in activities that could compete with Queen City Bank, N.A. or solicit its employees or customers. 6. Indemnification: — Protection: The agreement defines the scope of indemnification for any losses, damages, or liabilities incurred by either party due to a breach of the agreement or misrepresentation. 7. Governing Law and Dispute Resolution: — Choice of Law: The agreement specifies that Wake, North Carolina law governs the interpretation and enforcement of the terms. — Jurisdiction: The appropriate court or arbitration body for settling disputes arising from the agreement is identified. Conclusion: The Wake, North Carolina Sample Agreement for Purchase and Sale of Stock between PCB Ban corp, Queen City Bank, N.A., and Directors provides a systematic framework for the purchase and sale of stock in a legally enforceable manner. Tailored to the specific needs of all parties involved, this agreement safeguards their interests and ensures a smooth transition of ownership. It addresses key aspects such as purchase terms, representations, warranties, closing conditions, covenants, indemnification, and the governing law, assuring a fair and transparent transaction.