Capital Purchase Program Clause Samples
The Capital Purchase Program clause outlines the terms and conditions under which an entity, typically a government or financial institution, provides capital to a company, often in the form of equity or debt instruments. This clause specifies the amount of capital to be invested, the type of securities issued (such as preferred shares or subordinated debt), and any associated rights or restrictions, such as dividend payments or voting rights. Its core practical function is to facilitate the injection of capital into the company, thereby strengthening its financial position and supporting stability or growth, while clearly defining the obligations and expectations of both parties involved.
Capital Purchase Program. In the event that Tower, Graystone or their respective Subsidiaries receives approval from any Regulatory Authority to participate in the Capital Purchase Program, neither Tower, Graystone, nor their respective subsidiaries shall receive any funds under such program or enter into a securities purchase agreement, letter agreement, or any other applicable Capital Purchase Program agreement without the prior written approval of the other party.
Capital Purchase Program. During the period F.N.B. remains subject to the CPP executive compensation limitations, restrictions and prohibitions (“CPP Requirements), Employee’s Shares which qualify to vest under Section 2 hereof shall vest to the fullest extent permitted under the CPP; except that notwithstanding the foregoing, in the event a portion or all of Employee’s Shares are not permitted to fully vest as a result of the CPP Requirements, any forfeiture or lapse of the Shares which may result therefrom shall be immediately tolled and the Shares shall vest on the seventh (7th) day (or the next business day if this date falls on a weekend or federal holiday) after the CPP Requirements no longer apply to the Employee.
Capital Purchase Program. (a) The Bank has not had a CDFI Event while the Bank Preferred Stock has been outstanding. A “CDFI Event” means the failure by a Certified Entity at any time while the Designated Preferred Stock is outstanding to (i) be certified by the Community Development Financial Institution Fund of the United States Department of Treasury as a regulated community development financial institution; (ii) together with all of its Affiliates collectively meet the eligibility requirements of 12 C.F.R. 1805.200(b); (iii) have a primary mission of promoting community development, as may be determined by the United States Department of the Treasury from time to time, based on criteria set forth in 12 C.F.R. 1805.201(b)(1); (iv) provide Financial Products, Development Services, and/or other similar financing as a predominant business activity in arm’s-length transactions; (v) serve a Target Market by serving one or more Investment Areas and/or Targeted Populations as may be determined by the United States Department of the Treasury from time to time, substantially in the manner set forth in 12 C.F.R. 1805.201(b)(3); (vi) provide Development Services in conjunction with its Financial Products, directly, through an Affiliate or through a contract with a third-party provider; (vii) maintain accountability to residents of the applicable Investment Area(s) or Targeted Population(s) through representation on its governing board of directors or otherwise; and (viii) remain a non-governmental entity which is not an agency or instrumentality of the United States of America, or any State or political subdivision thereof; as described in 12 C.F.R. 1805.201(b)(6) and within the meaning of any supplemental regulations or interpretations of 12 C.F.R. 1805.201(b)(6) or such supplemental regulations published by the Fund. For the avoidance of doubt, a CDFI Event shall not have occurred so long as at least one Certified Entity satisfies the requirements set forth in clauses (i) through (viii) of the preceding sentence, even if other Certified Entities fail to satisfy such requirements.