Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 478

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 478
---
 Directors of Parent may, prior to the receipt of the Requisite Parent Vote, effect a Recommendation Change, if (i)(A) the Board of Directors of Parent has received after the date of this Agreement a bona fide Acquisition Proposal which did not result from a breach of Section 6.11(a) , which it determines in good faith, after receiving the advice of its outside counsel and, with respect to the financial matters, its financial advisors, constitutes a Superior Proposal or (B) an Intervening Event has occurred, and (ii) the Board of Directors of Parent, after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisors, determines in good faith that the failure to take such action would more likely than not result in a violation of its fiduciary duties under applicable law; provided that the Board of Directors of Parent may not take any actions under this Section 6.3(c) unless it (x) gives Parent at least three (3) business days’ prior written notice of its intention to take such action and a reasonable description of the event or circumstances giving rise to its determination to take such action (including, in the event such action is taken in response to an Acquisition Proposal, the latest material terms and conditions and the identity of the third party in any such Acquisition Proposal, or any amendment or modification thereof, or describe in reasonable detail such other event or circumstances) and (y) at the end of such notice period, takes into account any amendment or modification to this Agreement proposed by Parent and, after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisors, determines in good faith that (I) in the case of the actions described in clause (i)(A) above, such Acquisition Proposal continues to constitute a Superior Proposal, and (II) in the case of the actions described in each of clauses (i)(A) above and (i)(B) above, it would nevertheless more likely than not result in a violation of its fiduciary duties under applicable law to make or continue to make the Parent Board Recommendation. Any material amendment to any Acquisition Proposal will be deemed to be a new Acquisition Proposal for purposes of this Section 6.3(c) and will require a new notice period as referred to in this Section 6.3(c) . Notwithstanding anything to the contrary herein, unless this Agreement has been terminated in accordance with its terms, the Parent Meeting shall be convened and the Parent Articles Amendment, the Parent Share Iss