Common use of Tier 2 Capital Clause in Contracts

Tier 2 Capital. If all or any portion of the Subordinated Note ceases to qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Note, Company will immediately notify Purchaser, and thereafter, Company and Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 shall limit Company’s right to redeem the Subordinated Note upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note.

Appears in 3 contracts

Samples: Subordinated Note Purchase Agreement (FVCBankcorp, Inc.), Form of Subordinated Note Purchase Agreement (Blue Ridge Bankshares, Inc.), Form of Subordinated Note Purchase Agreement (F&m Bank Corp)

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Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, the Company will immediately notify Purchaserthe Noteholders, and thereafter, thereafter the Company and Purchaser the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 3 contracts

Samples: Subordinated Note Purchase Agreement (Uwharrie Capital Corp), Subordinated Note Purchase Agreement (Uwharrie Capital Corp), Subordinated Note Purchase Agreement (Old Point Financial Corp)

Tier 2 Capital. If all or any portion of the Subordinated Note ceases to qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Note, Company will immediately notify Purchaser, and thereafter, Company and Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 6.13 shall limit Company’s right to redeem the Subordinated Note upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note.

Appears in 3 contracts

Samples: Form of Subordinated Note Purchase Agreement (F&m Bank Corp), Subordinated Note Purchase Agreement (FVCBankcorp, Inc.), Form of Subordinated Note Purchase Agreement (Blue Ridge Bankshares, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (Event, as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of Indenture and the Subordinated NoteNotes.

Appears in 2 contracts

Samples: Form of Subordinated Note Purchase Agreement (Malvern Bancorp, Inc.), Form of Subordinated Note Purchase Agreement (Bryn Mawr Bank Corp)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately promptly notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital, if requested by Company; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit the Company’s right to redeem the Subordinated Note upon Notes if the occurrence of a Subordinated Notes cease to qualify as Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 2 contracts

Samples: Subordinated Note Purchase Agreement (BankGuam Holding Co), Subordinated Note Purchase Agreement (Sb Financial Group, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 2 contracts

Samples: Subordinated Note Purchase Agreement (Northeast Bancorp /Me/), Subordinated Note Purchase Agreement (Wellesley Bancorp, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, the Company will immediately notify Purchaserthe Holder (as defined in the Indenture), and thereafter, thereafter the Company and Purchaser the Holder will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Atlantic Capital Bancshares, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note ceases to qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Note, Company will immediately notify Purchaser, and thereafter, Company and Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note to qualify as Tier 2 Capital; provided, however, provided that nothing contained in this Section 5.3.6 Agreement shall limit Company’s right to redeem the Subordinated Note upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note.

Appears in 1 contract

Samples: Form of Subordinated Note Purchase Agreement (California BanCorp)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated NoteNotes, the Company will immediately notify Purchaser, the Noteholders and thereafter, if requested by the Company, the Company and Purchaser the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 8(g) shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note).

Appears in 1 contract

Samples: Paying Agency and Registrar Agreement (Bay Banks of Virginia Inc)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith for thirty (30) days to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Northeast Bancorp /Me/)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Trustee and the Holders, and thereafterthereafter Company shall request, Company subject to the terms hereof, that the Trustee and Purchaser will work together in good faith to the Holders execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 9.08 shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a10.01(3) or Section 4(b) of the Subordinated Notehereof.

Appears in 1 contract

Samples: ISABELLA BANK Corp

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Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated NoteNotes, the Company will immediately notify Purchaser, the Noteholders and thereafter, thereafter the Company and Purchaser the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary and acceptable in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 7(h) shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note).

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Farmers & Merchants Bancorp Inc)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Holders thereof, and thereafter, thereafter Company and Purchaser the Holders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital, if requested by Company; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note.Notes. 5.4

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Citizens Community Bancorp Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately promptly notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary and acceptable in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 Agreement shall limit Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (Event, as defined described in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated NoteNotes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Farmers & Merchants Bancorp Inc)

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, Company will immediately notify Purchaserthe Purchasers, and thereafter, thereafter Company and Purchaser the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; Capital provided, however, that nothing contained in this Section 5.3.6 6.13 shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined Event, in accordance with the Subordinated Note) pursuant to Section 4(a) or Section 4(b) provisions of the Subordinated Note.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (FVCBankcorp, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Note ceases Notes cease to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NoteNotes, the Company will immediately notify Purchaserthe Trustee and the Holders, and thereafterthereafter the Company shall request, Company subject to the terms hereof, that the Trustee and Purchaser will work together in good faith to the Holders execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 9.08 shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a10.01(3) or Section 4(b) of the Subordinated Notehereof.

Appears in 1 contract

Samples: Pathward Financial, Inc.

Tier 2 Capital. If all or any portion of the Subordinated Note Notes ceases to qualify for inclusion as be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated NoteNotes, the Company will immediately may promptly notify Purchaser, the Noteholders and thereafter, thereafter the Company and Purchaser the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Note Notes to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 5.3.6 7(h) shall limit the Company’s right to redeem the Subordinated Note Notes upon the occurrence of a Tier 2 Capital Event (as defined in the Subordinated Note) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note).

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Sterling Bancorp, Inc.)

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