First Extension of Stock Repurchase Agreement, dated as of August 31, 2012, between Wilmington Savings Fund Society, FSB, and Artesian Resources Corporation

Contract Categories: Business Finance - Repurchase Agreements
EX-10.1 2 ex10-1.htm FIRST EXTENSION OF STOCK REPURCHASE AGREEMENT ex10-1.htm
 
FIRST EXTENSION OF STOCK REPURCHASE AGREEMENT
 
 
That certain Stock Repurchase Agreement (the "Agreement"), dated August 31, 2011, by and between Wilmington Savings Fund Society, FSB ("Seller") and Artesian Resources Corporation, a Delaware corporation ("Buyer") is hereby extended as follows:
 
 
1.
Pursuant to Section 7.01 of the Agreement, by mutual written consent of Seller and Buyer the termination date of the Agreement is extended to August 31, 2013, unless earlier terminated pursuant to Section 7.01 or extended for an additional
 
period of time by the written mutual consent of Seller and Buyer.
 

 
2.           Except as modified hereinabove the terms of the Agreement shall continue in full force and effect.
 

 
IN WITNESS WHEREOF, the parties hereto have caused this First Extension of Stock
 

Repurchase Agreement to be executed as of August 31, 2012 by their respective officers thereunto duly authorized.


   
SELLER:
     
   
WILMINGTON SAVINGS FUND SOCIETY, FSB
     
   
BY:
/s/ Mark M. Pryslak
     
Name:  Mark M. Pryslak
   
Title:  Vice President

 

   
BUYER:
     
   
ARTESIAN RESOURCES CORPORATION
     
   
BY:
/s/ David B. Spacht
     
Name:  David B. Spacht
   
Title:  CFO Treasurer