SEC Filing Document

Company: Forbright, Inc.
Ticker: 
CIK: 1925062
Filing Type: S-1
Document Type: EX-10.3
Date Filed: 2026-05-15
Accession Number: 0001628280-26-035713
Exchange: 
SIC Code: 6022
SIC Description: State Commercial Banks
URL: https://www.sec.gov/Archives/edgar/data/1925062/000162828026035713/exhibit103-sx1publicflip.htm

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Word Count: 1481
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Document Content:

Exhibit 10.3

American Bank Holdings, Inc.

as Issuer

INDENTURE

Dated as of April 22, 2003

WELLS FARGO BANK, NATIONAL ASSOCIATION

As Trustee

JUNIOR SUBORDINATED DEBT SECURITIES

DUE April 7, 2033

TABLE OF CONTENTS

Page

ARTICLE I DEFINITIONS
SECTION 1.01.	Definitions	1
Additional Interest	1
Additional Provisions	1
Authenticating Agent	1
Bankruptcy Law	1
Board of Directors	1
Board Resolution	2
Business Day	2
Calculation Agent	2
Capital Securities	2
Capital Securities Guarantee	2
Capital Treatment Event	2
Certificate	2
Common Securities	2
Company	3
Debt Security	3
Debt Security Register	3
Declaration	3
Default	3
Defaulted Interest	3
Deferred Interest	3
Event of Default	3
Extension Period	3
Indenture	3
Institutional Trustee	3
Interest Payment Date	3
Interest Rate	3

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Investment Company Event	3
LIBOR	4
LIBOR Banking Day	4
LIBOR Business Day	4
LIBOR Determination Date	4
Liquidation Amount	4
Maturity Date	4
Maximum Rate Increase	4
Notice	4
Officers' Certificate	4
Opinion of Counsel	4
OTS	4
Outstanding	4
Paying Agent	5
Person	5
Predecessor Security	5
Principal Office of the Trustee	5
Redemption Date	5
Redemption Price	5
Responsible Officer	5
Securityholder	6
Senior Indebtedness	6
Special Event	6
Special Redemption Date	6
Special Redemption Price	6
Subsidiary	6
Tax Event	7
Trust	7

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Trust Indenture Act	7
Trust Securities	7
Trustee	7
United States	7
U.S. Person	7

ARTICLE II DEBT SECURITIES
SECTION 2.01.	Authentication and Dating	8
SECTION 2.02.	Form of Trustee's Certificate of Authentication	8
SECTION 2.03.	Form and Denomination of Debt Securities	9
SECTION 2.04.	Execution of Debt Securities	9
SECTION 2.05.	Exchange and Registration of Transfer of Debt Securities	12
SECTION 2.06.	Mutilated, Destroyed, Lost or Stolen Debt Securities	13
SECTION 2.07.	Temporary Debt Securities	13
SECTION 2.08.	Payment of Interest	15
SECTION 2.09.	Cancellation of Debt Securities Paid, etc	15
SECTION 2.10.	Computation of Interest	15
SECTION 2.11.	Extension of Interest Payment Period	17
SECTION 2.12.	CUSIP Numbers	17

ARTICLE III PARTICULAR COVENANTS OF THE COMPANY
SECTION 3.01.	Payment of Principal, Premium and Interest; Agreed Treatment of the Debt Securities	18
SECTION 3.02.	Offices for Notices and Payments, etc	19
SECTION 3.03.	Appointments to Fill Vacancies in Trustee's Office	19
SECTION 3.04.	Provision as to Paying Agent	19
SECTION 3.05.	Certificate to Trustee	20
SECTION 3.06.	Additional Interest	20
SECTION 3.07.	Compliance with Consolidation Provisions	21

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SECTION 3.08.	Limitation on Dividends	21
SECTION 3.09.	Covenants as to the Trust	22

ARTICLE IV LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
SECTION 4.01.	Securityholders' Lists	22
SECTION 4.02.	Preservation and Disclosure of Lists	23

ARTICLE V REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF DEFAULT
SECTION 5.01.	Events of Default	24
SECTION 5.02.	Payment of Debt Securities on Default; Suit Therefor	26
SECTION 5.03.	Application of Moneys Collected by Trustee	27
SECTION 5.04.	Proceedings by Securitvholders	27
SECTION 5.05.	Proceedings by Trustee	28
SECTION 5.06.	Remedies Cumulative and Continuing	28
SECTION 5.07.	Direction of Proceedings and Waiver of Defaults by Majority of Securityholders	29
SECTION 5.08.	Notice of Defaults	29
SECTION 5.09.	Undertaking to Pay Costs	30

ARTICLE VI CONCERNING THE TRUSTEE
SECTION 6.01.	Duties and Responsibilities of Trustee	30
SECTION 6.02.	Reliance on Documents, Opinions, etc	30
SECTION 6.03.	No Responsibility for Recitals, etc	31
SECTION 6.04.	Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May Own Debt Securities	33
SECTION 6.05.	Moneys to be Held in Trust	33
SECTION 6.06.	Compensation and Expenses of Trustee	33
SECTION 6.07.	Officers' Certificate as Evidence	34
SECTION 6.08.	Eligibility of Trustee	34

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SECTION 6.09.	Resignation or Removal of Trustee, Calculation Agent, Paying Agent or Debt Security Register	35
SECTION 6.10.	Acceptance by Successor	36
SECTION 6.11.	Succession by Merger, etc	37
SECTION 6.12.	Authenticating Agents	38

ARTICLE VII CONCERNING THE SECURITYHOLDERS
SECTION 7.01.	Action by Securityholders	39
SECTION 7.02.	Proof of Execution by Securityholders	39
SECTION 7.03.	Who Are Deemed Absolute Owners	40
SECTION 7.04.	Debt Securities Owned by Company Deemed Not Outstanding	40
SECTION 7.05.	Revocation of Consents; Future Holders Bound	40

ARTICLE VIII SECURITYHOLDERS' MEETINGS
SECTION 8.01.	Purposes of Meetings	41
SECTION 8.02.	Call of Meetings by Trustee	41
SECTION 8.03.	Call of Meetings by Company or Securityholders	42
SECTION 8.04.	Qualifications for Voting	42
SECTION 8.05.	Regulations	42
SECTION 8.06.	Voting	43

ARTICLE IX SUPPLEMENTAL INDENTURES
SECTION 9.01.	Supplemental Indentures without Consent of Securityholders	44
SECTION 9.02.	Supplemental Indentures with Consent of Securityholders	45
SECTION 9.03.	Effect of Supplemental Indentures	46
SECTION 9.04.	Notation on Debt Securities	47
SECTION 9.05.	Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee	47

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ARTICLE X REDEMPTION OF SECURITIES
SECTION 10.01.	Optional Redemption	47
SECTION 10.02.	Special Event Redemption	47
SECTION 10.03.	Notice of Redemption; Selection of Debt Securities	47
SECTION 10.04.	Payment of Debt Securities Called for Redemption	48

ARTICLE XI CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE
SECTION 11.01.	Company May Consolidate, etc., on Certain Terms	49
SECTION 11.02.	Successor Entity to be Substituted	49
SECTION 11.03.	Opinion of Counsel to be Given to Trustee	50

ARTICLE XII SATISFACTION AND DISCHARGE OF INDENTURE
SECTION 12.01.	Discharge of Indenture	50
SECTION 12.02.	Deposited Moneys to be Held in Trust by Trustee	51
SECTION 12.03.	Paying Agent to Repay Moneys Held	51
SECTION 12.04.	Return of Unclaimed Moneys	51

ARTICLE XIII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
SECTION 13.01.	Indenture and Debt Securities Solely Corporate Obligations	51

ARTICLE XIV MISCELLANEOUS PROVISIONS
SECTION 14.01.	Successors	52
SECTION 14.02.	Official Acts by Successor Entity	52
SECTION 14.03.	Surrender of Company Powers	52
SECTION 14.04.	Addresses for Notices, etc	52
SECTION 14.05.	Governing Law	53
SECTION 14.06.	Evidence of Compliance with Conditions Precedent	53
SECTION 14.07.	Non-Business Days	53
SECTION 14.08.	Table of Contents, Headings, etc	53

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SECTION 14.09.	Execution in Counterparts	54
SECTION 14.10.	Separability	54
SECTION 14.11.	Assignment	54
SECTION 14.12.	Acknowledgment of Rights	54

ARTICLE XV SUBORDINATION OF DEBT SECURITIES
SECTION 15.01.	Agreement to Subordinate	55
SECTION 15.02.	Default on Senior Indebtedness	55
SECTION 15.03.	Liquidation; Dissolution; Bankruptcy	55
SECTION 15.04.	Subrogation	57
SECTION 15.05.	Trustee to Effectuate Subordination	58
SECTION 15.06.	Notice by the Company	58
SECTION 15.07.	Rights of the Trustee. Holders of Senior Indebtedness	59
SECTION 15.08.	Subordination May Not Be Impaired	59

EXHIBITS

EXHIBIT A    FORM OF DEBT SECURITY

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THIS INDENTURE, dated as of April 22, 2003, between American Bank Holdings, Inc., a savings and loan holding company incorporated in Delaware (hereinafter sometimes called the "Company"), and Wells Fargo Bank, National Association, a national banking association with its principal place of business in the State of Delaware, as trustee (hereinafter sometimes called the "Trustee").

WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of its FJunior Subordinated Debt Securities due April 7, 2033 (the "Debt Securities") under this Indenture and to provide, among other things, for the execution and authentication, delivery and administration thereof, the Company has duly authorized the execution of this Indenture.

NOW, THEREFORE, in consideration of the premises, and the purchase of the Debt Securities by the holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate benefit of the respective holders from time to time of the Debt Securities as follows:

ARTICLE I

DEFINITIONS

SECTION 1.01. Definitions.

The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All accounting terms used herein and not expressly defined shall have the meanings assigned to such terms in accordance with generally accepted accounting principles and the term "generally accepted accounting principles" means such accounting principles as are generally accepted in the United States at the time of any computation. The words "herein," "hereof' and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

"Additional Interest" shall have the meaning set forth in Section 3.06.

"Additional Provisions" shall have the meaning set forth in Section 15.01.

"Authenticating Agent" means any agent or agents of the Trustee which at the time shall be appointed and acting pursuant to Section 6.12.

"Bankruptcy Law" means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

"Board of Directors" means the board of directors or the executive committee or any other duly authorized designated officers of the Company.

"Board Resolution" means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee.