Common use of Return on Average Assets Clause in Contracts

Return on Average Assets. Borrower’s consolidated net income shall be at least eighty-five hundredths of one percent (0.85%) of its average assets, calculated on an annualized basis as at the last day of each fiscal quarter of Borrower; provided, however, that for purposes of determining return on average assets, customary and reasonable, non-recurring expenses and charges incurred by Borrower in connection with a permitted acquisition or public offering under Sections 5.1 and 5.6 hereof shall be excluded and, with respect to the fiscal quarter of the Borrower ending June 30, 2007, the net after tax effect of the addition to the Borrower’s reserve for loan losses of $11,555,000 made during such fiscal quarter shall be disregarded in calculating the Borrower’s consolidated net income.

Return on Average Assets. Borrower’s consolidated net income shall be at least eighty-five hundredths of one percent (0.85%) of its average assets, calculated on an annualized basis as at the last day of each fiscal quarter of Borrower; provided, however, that for purposes of determining return on average assets, customary and reasonable, non-recurring expenses and charges incurred by Borrower in connection with a permitted acquisition or public offering under Sections 5.1 and 5.6 hereof shall be excluded andexcluded; provided further, however, that with respect to the fiscal quarter of the Borrower ending June 30, 2007, (i) the net after tax effect of the addition to the Borrower’s reserve for loan losses of $11,555,000 made during such fiscal quarter shall be disregarded in calculating the Borrower’s consolidated net income.and