Minimum Regulatory Capital Sample Clauses

Minimum Regulatory Capital. Permit the Net Capital of the Borrower at any time to be less than $50,000,000 in excess of the minimum amount of Net Capital required by the Exchange Act.
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Minimum Regulatory Capital. Borrower shall at all times have Regulatory Capital of at least $120,000,000 and shall have fifteen (15) days from the date of receipt of any FOCUS Report which indicates that there is a violation of this covenant to cure such violation; provided however no cure period shall exist if any such violation is the direct result of a decrease in total ownership equity (as reflected in Part II, line 30 of the “Statement of Financial Condition Liabilities and Equity” section of any such FOCUS Report); and provided further, that Borrower shall not be required to maintain said minimum Regulatory Capital requirement on any day if and to the extent Borrower’s securities underwriting commitments cause Borrower to have Regulatory Capital of less than said minimum Regulatory Capital requirement on or as of such day, so long as the total number of such days when Regulatory Capital is less than said minimum Regulatory Capital requirement does not exceed twenty (20) cumulative days in any single fiscal year of Borrower.
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Minimum Regulatory Capital. Permit the Net Capital of any Foreign Subsidiary that is a Broker-Dealer Subsidiary and a Material Subsidiary or any Domestic Subsidiary that is a Broker-Dealer Subsidiary at any time to be less than (i) for any Broker-Dealer Subsidiary that has elected not to be subject to the “Aggregate Indebtedness Standard” pursuant to the Exchange Act (i.e., a Broker-Dealer Subsidiary testing net capital requirements on the basis of “aggregate debit items” pursuant to the Exchange Act), the greater of (x) 5.5% of the amount of the “aggregate debit items” of such Broker-Dealer Subsidiary, computed in accordance with the Exchange Act, and (y) 120% of the minimum amount of Net Capital required for such Broker-Dealer Subsidiary by the Exchange Act and (ii) for any other Broker-Dealer Subsidiary, 150% of the minimum amount of Net Capital required for such Broker-Dealer Subsidiary by the Exchange Act or, in the case of a Foreign Subsidiary, any similar or comparable foreign regulation. The Guarantor shall be deemed to be in compliance with this Section 6.1(d) with respect to any Broker-Dealer Subsidiary so long as the then most recent computation of Net Capital for such Broker-Dealer Subsidiary shows such compliance and no Responsible Officer of the Guarantor or such Subsidiary has actual knowledge that the Guarantor is not in compliance with this Section 6.1(d). The Guarantor shall make such computations demonstrating compliance with the net capital requirements applicable to any Broker-Dealer Subsidiary when required by the Exchange Act, the SEC or any other applicable Governmental Authority, but at least weekly in the case of any Broker-Dealer Subsidiary electing not to be subject to the “aggregate indebtedness standard” pursuant to the Exchange Act (i.e., a Broker-Dealer Subsidiary testing net capital requirements on the basis of “aggregate debit items” pursuant to the Exchange Act), and monthly otherwise.
Sample 1Sample 2
Minimum Regulatory Capital. Target Company shall have Minimum Regulatory Capital as of immediately prior to the Closing and Seller shall have delivered to Buyer a certificate, dated the Closing Date and signed by the President or a Vice President of Seller, to such effect.
Sample 1Sample 2
Minimum Regulatory Capital. Borrower shall at all times have Regulatory Capital of at least $180,000,000 and shall have fifteen (15) days from the date of receipt of any FOCUS Report which indicates that there is a violation of this covenant to cure such violation; provided however no cure period shall exist if any such violation is the direct result of a decrease in total ownership equity (as reflected in Part II, line 30 of any such FOCUS Report).
Sample 1
Minimum Regulatory Capital. Borrower will not permit its Regulatory Capital as of the date of each monthly FOCUS Report to be less than $175,000,000.
Sample 1

Related to Minimum Regulatory Capital

  • Child Abuse Reporting Requirement Grantee will:

  • Year 2000 Compliance The Borrower will promptly notify the Agent and the Lenders in the event the Borrower discovers or determines that any computer application (including those affected by information received from its suppliers and vendors) that is material to its or any of its Subsidiaries' business and operations will not be Year 2000 Compliant on a timely basis, except to the extent that such failure could not reasonably be expected to have a Material Adverse Effect.

  • FERPA Compliance In connection with all FERPA Records that Contractor may create, receive or maintain on behalf of University pursuant to the Underlying Agreement, Contractor is designated as a University Official with a legitimate educational interest in and with respect to such FERPA Records, only to the extent to which Contractor (a) is required to create, receive or maintain FERPA Records to carry out the Underlying Agreement, and (b) understands and agrees to all of the following terms and conditions without reservation:

  • Xxxxx-Xxxxx Act compliance IF proposing on PART 2, Texas Statute requires compliance with Xxxxx-Xxxxx Act, as amended (40 U.S.C. 3141- 3148). When required by Federal program legislation, all prime construction contracts in excess of $2,000 awarded by non-Federal entities must include a provision for compliance with the Xxxxx-Xxxxx Act (40 U.S.C. 3141-3144, and 3146-3148) as supplemented by Department of Labor regulations (29 CFR Part S, "Labor Standards Provisions Applicable to Contracts Covering Federally Financed and Assisted Construction"). In accordance with the statute, contractors must be required to pay wages to laborers and mechanics at a rate not less than the prevailing wages specified in a wage determination made by the Secretary of Labor. In addition, contractors must be required to pay wages not less than once a week. The non-Federal entity must place a copy of the current prevailing wage determination issued by the Department of Labor in each solicitation. The decision to award a contract or subcontract must be conditioned upon the acceptance of the wage determination. The non-Federal entity must report all suspected or reported violations to the Federal awarding agency. The contracts must also include a provision for compliance with the Xxxxxxxx "Anti-Kickback" Act {40 U.S.C. 314S), as supplemented by Department of Labor regulations (29 CFR Part 3, "Contractors and Subcontractors on Public Building or Public Work Financed in Whole or in Part by Loans or Grants from the United States"). The Act provides that each contractor or subrecipient must be prohibited from inducing, by any means, any person employed in the construction, completion, or repair of public work, to give up any part of the compensation to which he or she is otherwise entitled. The non-Federal entity must report all suspected or reported violations to the Federal awarding agency. BY SUBMITTING A PROPOSAL FOR PART 2 OF THIS SOLICITATION, the Vendor agrees, AS REQUIRED BY LAW, to comply with the Xxxxx Xxxxx Act, IF APPLICABLE and if proposing on PART 2 of this solicitation.

  • GAAP Compliance Contractor maintains an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles.

  • Child Abuse Reporting Requirements A. Grantees shall comply with child abuse and neglect reporting requirements in Texas Family Code Chapter 261. This section is in addition to and does not supersede any other legal obligation of the Grantee to report child abuse.

  • Single Audit Act Compliance If the Contractor is a subrecipient and expends $750,000 or more in federal awards from any and/or all sources in any fiscal year, the Contractor shall procure and pay for a single audit or a program-specific audit for that fiscal year. Upon completion of each audit, the Contractor shall:

  • Federal Medicaid System Security Requirements Compliance Party shall provide a security plan, risk assessment, and security controls review document within three months of the start date of this Agreement (and update it annually thereafter) in order to support audit compliance with 45 CFR 95.621 subpart F, ADP System Security Requirements and Review Process.

  • Sxxxxxxx-Xxxxx Compliance As soon as it is legally required to do so, the Company shall take all actions necessary to obtain and thereafter maintain material compliance with each applicable provision of the Sxxxxxxx-Xxxxx Act of 2002 and the rules and regulations promulgated thereunder and related or similar rules and regulations promulgated by any other governmental or self-regulatory entity or agency with jurisdiction over the Company.

  • SOX Compliance The Company has taken all actions it deems reasonably necessary or advisable to take on or prior to the date of this Agreement to assure that, upon and at all times after the Effective Date, it will be in compliance in all material respects with all applicable provisions of the Sxxxxxxx-Xxxxx Act of 2002 and all rules and regulations promulgated thereunder or implementing the provisions thereof. (the “Sxxxxxxx-Xxxxx Act”) that are then in effect and will take all action it deems reasonably necessary or advisable to assure that it will be in compliance in all material respects with other applicable provisions of the Sxxxxxxx-Xxxxx Act not currently in effect upon it and at all times after the effectiveness of such provisions.

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