VNB Definition - Law Insider

VNB definitionVNB means Value of New Business.View SourceBased on 2 documents2Draft with AISplit ViewAI-Powered Contracts

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Get StartedSchedule a DemoVNB refer to Virginia National Bank and any agent independentView SourceBased on 1 documents1Draft with AIVNB means Vail National Bank, a banking association organized under the laws of the United States.View SourceBased on 1 documents1Draft with AI

Examples of VNB in a sentence

• The execution and delivery of the Bank Merger Agreement has been duly and validly approved by the Board of Directors of VNB.

• VNB shall have taken all necessary corporate action to effectuate the Bank Merger immediately following the Effective Time.

• VNB is a national bank whose deposits are insured by the FDIC to the fullest extent permitted by law.

• Except for the approvals described in paragraph (b) below, no other corporate proceedings on the part of Valley or VNB are necessary to consummate the transactions contemplated hereby.

• The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly and validly approved by the Board of Directors of each of Valley and VNB.

• Immediately following the Effective Time, the Bank shall be merged with and into VNB as provided in Section 1.7 hereof.

• This Agreement has been duly and validly executed and delivered by Valley and VNB and constitutes a valid and binding obligation of Valley and VNB, enforceable against Valley and VNB in accordance with its terms.

• Except as set forth in the Valley Disclosure Schedule, Valley, VNB and each of their Subsidiaries have established (and until the Effective Time will establish) on their books and records reserves for the payment of all Taxes not yet due and payable, but incurred in respect of Valley, VNB or any Subsidiary through such date, which reserves are adequate for such purposes.

• Valley and VNB have implemented an OFAC compliance program that adequately covers in all material respects all elements of OFAC compliance, and to the knowledge of Valley and to the knowledge of VNB, no Subsidiary or affiliate of Valley or VNB is engaging nor has any Subsidiary or affiliate of Valley or VNB engaged in any dealings or transactions with, and no Subsidiary or affiliate of Valley or VNB has been otherwise associated with, such persons or entities.

• To the knowledge of each of Valley and VNB, there are no audits or other administrative or court proceedings presently pending nor any other disputes pending, or claims asserted for, Taxes or assessments upon Valley, VNB or any of their Subsidiaries, nor has Valley, VNB or any of their Subsidiaries given any currently outstanding waivers or comparable consents regarding the application of the statute of limitations with respect to any Taxes or Returns.

More Definitions of VNB

VNB mean Virginia National Bank. "You" and "your" refer to the accountholder enrolled to use Online under this Agreement and anyone else authorized by that accountholder to exercise control over the accountholder's funds through Online Banking. "Account" or "accounts" means your accounts at VNB. “Consumer” means a natural person. "Electronic funds transfers" means ATM withdrawals, preauthorized transactions, point of sale transactions, external transfers to and from your VNB accounts and your accounts at other financial institutions using Online, and transfers through ▇▇▇▇ payments. "Online Services" means the services provided pursuant to this Agreement, including the ▇▇▇▇ Payment Service. "Business days" means Monday through Friday, excluding bank holidays.View SourceBased on 1 documents1Draft with AI

Related to VNB

• Merger Sub has the meaning set forth in the Preamble.

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