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Title: |
Agreement and Plan of Reorganization |
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Entities: |
Nara Bancorp, Inc.; Bank of New York; Manatt, Phelps & Phillips |
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Date: |
2001 |
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Size: |
Preview shows 39KB of 144KB total |
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Price: |
$65 |
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ID: |
#825131 |
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Start of Preview |
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AGREEMENT AND PLAN OF REORGANIZATION
between
NARA BANK, N.A.,
KOREA FIRST BANK OF NEW YORK
and
KOREA FIRST BANK
Dated as of November 9, 1999
| |
|
Page
| |||
|---|---|---|---|---|---|
| RECITALS | 1 | ||||
ARTICLE I THE MERGERS AND RELATED TRANSACTIONS |
2 | ||||
SECTION 1.1 |
Structure and Effect of the Interim Merger |
2 | |||
SECTION 1.2 |
Structure and Effect of the Bank Merger |
2 | |||
SECTION 1.3 |
Closing |
2 | |||
SECTION 1.4 |
Effective Times |
3 | |||
SECTION 1.5 |
Structure of the Acquisition |
3 | |||
ARTICLE II CASH CONSIDERATION |
3 | ||||
SECTION 2.1 |
The Cash Consideration and Adjustments |
3 | |||
SECTION 2.2 |
Payment of the Cash Consideration |
4 | |||
ARTICLE III REPRESENTATIONS AND WARRANTIES OF KFB AND KOREA FIRST |
4 | ||||
SECTION 3.1 |
Representations and Warranties of KFB |
4 | |||
(a) |
Recitals True |
4 | |||
(b) |
Capital Stock |
4 | |||
(c) |
Subsidiaries |
5 | |||
(d) |
Authority |
5 | |||
(e) |
Approvals |
5 | |||
(f) |
No Violations |
5 | |||
(g) |
Reports |
5 | |||
(h) |
Taxes |
6 | |||
(i) |
Absence of Claims |
7 | |||
(j) |
Absence of Regulatory Actions |
7 | |||
(k) |
Agreements |
7 | |||
(l) |
Labor Matters |
8 | |||
(m) |
Employee Benefit Agreements |
8 | |||
(n) |
Title to Assets |
9 | |||
(o) |
Knowledge as to Conditions |
9 | |||
(p) |
Compliance with Laws |
9 | |||
(q) |
Finder's or Advisor Fees |
9 | |||
(r) |
Environmental Matters |
9 | |||
(s) |
Allowances |
10 | |||
(t) |
Material Interests of Certain Persons |
11 | |||
i
(u) |
Insurance |
11 | |||
(v) |
Investment Securities |
11 | |||
(w) |
Derivative Transactions |
11 | |||
(x) |
Intellectual Property |
11 | |||
(y) |
Registration Obligations |
12 | |||
(z) |
Books and Records |
12 | |||
(aa) |
Trust Business |
12 | |||
(bb) |
Year 2000 Compliant |
12 | |||
SECTION 3.2 |
Representations and Warranties of Korea First |
12 | |||
(a) |
Ownership of Shares |
12 | |||
(b) |
Authority |
13 | |||
(c) |
No Violations |
13 | |||
(d) |
Absence of Regulatory Actions |
13 | |||
(e) |
Knowledge as to Conditions |
13 | |||
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF NARA BANK |
13 | ||||
SECTION 4.1 |
Representations and Warranties |
13 | |||
(a) |
Recitals True |
13 | |||
(b) |
Due Organization; Good Standing and Power |
13 | |||
(c) |
Authorization and Validity of Agreement |
13 | |||
(d) |
Finder's or Advisor Fee |
14 | |||
(e) |
No Violations |
14 | |||
(f) |
Absence of Claims |
14 | |||
(g) |
Absence of Regulatory Actions |
14 | |||
(h) |
Knowledge as to Conditions |
14 | |||
(i) |
Approvals |
14 | |||
(j) |
Consideration |
15 | |||
ARTICLE V KFB'S CONDUCT PENDING THE MERGER |
15 | ||||
SECTION 5.1 |
Conduct of KFB's Business Prior to the Effective Time of the Interim Merger |
15 | |||
SECTION 5.2 |
Covenants of KFB |
15 | |||
ARTICLE VI COVENANTS |
16 | ||||
SECTION 6.1 |
Acquisition Proposals |
16 | |||
SECTION 6.2 |
Certain Pre-Closing Adjustments |
17 | |||
SECTION 6.3 |
Employees |
17 | |||
ii
SECTION 6.4 |
Access and Information |
18 | |||
SECTION 6.5 |
Certain Filings, Consents and Arrangements |
18 | |||
SECTION 6.6 |
Additional Agreements |
18 | |||
SECTION 6.7 |
Publicity |
18 | |||
SECTION 6.8 |
Certain Loans |
19 | |||
SECTION 6.9 |
Appraisals |
19 | |||
SECTION 6.10 |
Board of Directors; Officers |
19 | |||
SECTION 6.11 |
Notification of Certain Matters |
19 | |||
SECTION 6.12 |
Indemnification of KFB Directors and Officers |
19 | |||
SECTION 6.13 |
Nara Bank Shareholder Approval |
20 | |||
SECTION 6.14 |
Notices; Reports |
20 | |||
SECTION 6.15 |
Nara Bank Representatives |
21 | |||
SECTION 6.16 |
Approvals |
21 | |||
SECTION 6.17 |
No Voting Trusts |
21 | |||
SECTION 6.18 |
Transfer and Encumbrance |
21 | |||
SECTION 6.19 |
Dissenters' Rights |
21 | |||
SECTION 6.20 |
Acquisition Proposals |
21 | |||
SECTION 6.21 |
Facilitation |
22 | |||
SECTION 6.22 |
Tax Matters |
22 | |||
(a) |
Korea First Liability |
22 | |||
(b) |
Nara Bank Liability |
22 | |||
(c) |
Taxes for Short Taxable Year |
22 | |||
(d) |
Pre-Effective Period Tax Returns |
22 | |||
(e) |
Tax Returns |
23 | |||
(f) |
Contest Provisions |
23 | |||
(g) |
Payment Benefits |
24 | |||
(h) |
Refunds |
24 | |||
(i) |
Notices |
25 | |||
(j) |
Assistance and Cooperation |
25 | |||
(k) |
Transfer Taxes |
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