Minimum Capital. Section 6.12 of the Credit Agreement is hereby amended to read in its entirety as follows:
Minimum Capital. 9.7 The T2IB shall maintain at least the minimum capital as prescribed under SRO Requirements.
Minimum Capital. The Borrower shall cause Embassy Bank to at all times maintain such capital and other requirements as are necessary to be classified as a “well capitalized” institution for both Tier I and Tier II capital purposes, in accordance with all federal and state laws and regulations applicable to Pennsylvania state chartered banks. As and when requested by the Bank, the Borrower will certify the Borrower’s compliance with this covenant to the Bank.
Minimum Capital. Heska will maintain, on a consolidated basis, as of each date listed below, its Capital at an amount not less than the amount set forth opposite such date: Date Minimum Capital February 28, 2003 $[ *** ] March 31, 2003 $[ *** ] April 30, 2003 $[ *** ] May 31, 2003 $[ *** ] June 30, 2003 $[ *** ] July 31, 2003 $[ *** ] August 31, 2003 $[ *** ] September 30, 2003 $[ *** ] October 31, 2003 $[ *** ] November 30, 2003 $[ *** ] December 31, 2003, and the last day of each month thereafter $[ *** ]”
Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement., as of the Reporting Date, Heska’s Capital was, on a consolidated basis, $________________, which o satisfies o does not satisfy the requirement that such amount be not less than $_____________ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: Date Minimum Capital November 30, 2010 $13,900,000 December 31, 2010 $14,000,000 January 31, 2011 $10,600,000 February 28, 2011 $10,725,000 March 31, 2011 $11,725,000 April 30, 2011 $11,775,000 May 31, 2011 $11,825,000 June 30, 2011 $12,325,000 July 31, 2011 $12,175,000 August 31, 2011 $12,525,000 September 30, 2011 $13,475,000 October 31, 2011 $13,375,000 November 30, 2011 $13,825,000 December 31, 2011 $14,525,000 The covenant levels for January 31, 2011 through and including December 31, 2011 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska’s Capital, as evidenced by Heska’s audited balance sheet as of December 31, 2010, is greater than or less than $14,898,000; provided, however, that any such downward adjustment shall not exceed $500,000.
Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement, as of the Reporting Date, Heska’s Capital was, on a consolidated basis, $_________________, which o satisfies o does not satisfy the requirement that such amount be not less than $_____________ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: Date Minimum Capital November 30, 2006 [***] December 31, 2006 [***] January 1, 2007 [***] February 28, 2007 [***] March 31, 2007 [***] April 30, 2007 [***] May 31, 2007 [***] June 30, 2007 [***] July 31, 2007 and the last day of each month thereafter [***] [***] — Certain information on this page have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement, as of the Reporting Date, Heska’s Capital was, on a consolidated basis, $_____, which o satisfies o does not satisfy the requirement that such amount be not less than $_____ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: Date Minimum Capital October 31, 2009 [***] November 30, 2009 [***] December 31, 2009 [***] January 31, 2010 [***] February 28, 2010 [***] March 31, 2010 [***] April 30, 2010 [***] May 31, 2010 [***] June 30, 2010 [***] July 31, 2010 [***] August 31, 2010 [***] September 30, 2010 [***] October 31, 2010 [***] November 30, 2010 [***] December 31, 2010 [***] The covenant levels for January 31, 2010 through and including December 31, 2010 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska’s Capital, as evidenced by Heska’s audited balance sheet as of December 31, 2009, is greater than or less than [***]; provided, however, that any such downward adjustment shall not exceed $500,000. [***] — Certain information on this page have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Minimum Capital. Target shall have minimum tangible net equity of $2.5 million in cash or cash equivalents at the Effective Time and immediately thereafter, provided that Purchaser shall have complied with the requirements of Section 7.3.
Minimum Capital. Heska will maintain, on a consolidated basis, as of each date listed below, its Capital at an amount not less than the amount set forth opposite such date: Date Minimum Capital November 30, 2010 $ 13,900,000 December 31, 2010 $ 14,000,000 January 31, 2011 $ 10,600,000 February 28, 2011 $ 10,725,000 March 31, 2011 $ 11,725,000 April 30, 2011 $ 11,775,000 May 31, 2011 $ 11,825,000 June 30, 2011 $ 12,325,000 July 31, 2011 $ 12,175,000 August 31, 2011 $ 12,525,000 September 30, 2011 $ 13,475,000 October 31, 2011 $ 13,375,000 November 30, 2011 $ 13,825,000 December 31, 2011 $ 14,525,000 The covenant levels for January 31, 2011 through and including December 31, 2011 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska’s Capital, as evidenced by Heska’s audited balance sheet as of December 31, 2010, is greater than or less than $14,898,000; provided, however, that any such downward adjustment shall not exceed $500,000.
Minimum Capital. Heska will maintain, on a consolidated basis, as of each date listed below, its Capital at an amount not less than the amount set forth opposite such date: Date Minimum Capital December 31, 2008 [***] January 31, 2009 [***] February 28, 2009 [***] March 31, 2009 [***] April 30, 2009 [***] May 31, 2009 [***] June 30, 2009 [***] July 31, 2009 [***] August 31, 2009 [***] September 30, 2009 [***] October 31, 2009 [***] November 30, 2009 [***] December 31, 2009 [***] [***] — Certain information on this page have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. The covenant levels for January 31, 2009 through and including December 31, 2009 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska’s Capital, as evidenced by Heska’s audited balance sheet as of December 31, 2008, is greater than or less than [***]; provided, however, that any such downward adjustment shall not exceed $500,000.
