Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 467

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 467
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 except as set forth in the Parent Disclosure Schedule, as expressly contemplated or permitted by this Agreement or as required by law (including any Pandemic Measures), Parent shall not, and shall cause its Subsidiaries not to, without the prior written consent of Company (such consent not to be unreasonably withheld, conditioned or delayed):

(a) other than (i) federal funds borrowings, borrowings from the Federal Reserve Bank discount window and Federal Home Loan Bank borrowings with a maturity not in excess of nine (9) months, (ii) the creation of non-brokered deposit liabilities with a maturity not in excess of thirteen (13) months (iii) the creation of brokered deposit liabilities with a maturity not in excess of six (6) months, (iv) issuances of letters of credit, (v) purchases of federal funds, (vi) sales of certificates of deposit and (vii) entry into repurchase agreements, in each case of clauses (i) through (vii), in the ordinary course of business, incur any indebtedness for borrowed money (other than indebtedness of Parent or any of its wholly owned Subsidiaries to Parent or any of its wholly owned Subsidiaries), or assume, guarantee, endorse or otherwise as an accommodation become responsible for the obligations of any other individual, corporation or other entity;

(b) (i) adjust, split, combine or reclassify any capital stock;

(ii)  make, declare, pay or set a record date for any dividend, or any other distribution on, or directly or indirectly redeem, purchase or otherwise acquire, any shares of its capital stock or other equity or voting securities or any securities or obligations convertible (whether currently convertible or convertible only after the passage of time or the occurrence of certain events) or exchangeable into or exercisable for any shares of its capital stock or other equity or voting securities, except, in each case, (A) dividends paid by any of the Parent Subsidiaries to Parent or any of its wholly owned Subsidiaries, (B) the acceptance of shares of Parent Common Stock as payment for withholding Taxes incurred in connection with the vesting or settlement of Parent Equity Awards, in each case, in accordance with past practice and the terms of the applicable award agreements in effect as of the date of this Agreement or (C) regular distributions on outstanding trust preferred securities in accordance with their terms;

(iii)  issue, sell, transfer, encumber or otherwise permit