Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 106

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 106
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 or partially liquidate or dissolve it or any of its subsidiaries;

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take or fail to take any action that would cause Bancorp Financial’s representations and warranties in the merger agreement to be inaccurate in any material respect;

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take any action that is intended or likely to (i) result in the failure of any closing condition of the merger or to otherwise delay the consummation of the merger, or (ii) delay or affect the ability of Bancorp Financial to obtain any regulatory approvals required to complete the merger or the bank merger; or

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agree to take, make any commitment to take, or adopt any resolutions of Bancorp Financial’s board of directors in support of, any of the actions prohibited by the merger agreement.

Old Second has agreed that, prior to the effective time (or earlier termination of the merger agreement), subject to specified exceptions, it will, and will cause each of its subsidiaries to, (a) maintain its existence under applicable law, (b) use commercially reasonable best efforts to maintain and preserve intact its business operations, assets, rights and franchises, and (c) take no action that would reasonably be expected to adversely affect or delay the ability of the parties to obtain any necessary regulatory approvals to consummate the merger or to perform its obligations under the merger agreement or to consummate the merger on a timely basis.

Additionally, Old Second has undertaken further covenants. Prior to the closing date of the merger, subject to specified exceptions, Old Second may not, and Old Second may not permit any of its subsidiaries to, without the prior written consent of Bancorp Financial, undertake the following:

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with certain exceptions, amend its certificate of incorporation or bylaws in a manner that changes any material term or provision of Old Second common stock or that otherwise would materially and adversely affect the economic benefits of the merger to Bancorp Financial stockholders or would materially impede Old Second’s ability to consummate the transactions contemplated by this Agreement;

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with certain exceptions, adjust, split, combine or reclassify any capital stock;

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take or knowingly fail to take any action that would prevent the merger from qualifying as a “reorganization” within the meaning of Section 368(a)(1)(A) of the Code;

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take any action that is intended or likely to result in the failure of any closing condition of the merger or to otherwise delay the consummation of the merger; or

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agree to take, make any commitment to take, or adopt any resolutions