Predominantly Financial. For as long as the Investor owns any Senior Subordinated Securities, the Credit Union, agrees to remain predominantly engaged in financial activities. A entity is predominantly engaged in financial activities if the annual gross revenues derived by the entity and all subsidiaries of the entity (excluding revenues derived from subsidiary depository institutions), on a consolidated basis, from engaging in activities that are financial in nature or are incidental to a financial activity under subsection (k) of Section 4 of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)) represent at least 85 percent of the consolidated annual gross revenues of the entity.
Appears in 36 contracts
Samples: Securities Purchase Agreement, Securities Purchase Agreement, Securities Purchase Agreement
