Average Deposits definition
Examples of Average Deposits in a sentence
Similarly, if the Average Deposits totaled $101,850,000, the Amount of the Deposit Premium would total $5,092,500.
For example, if the Average Deposits equaled $117,300,000 (i.e., exceeded the Target Range by 2%), then the Amount of the Deposit Premium would similarly increase by 2%, to $5,355,000.
In all instances, the 2-Year Average Deposits and Other Funding Sources will be rounded to the nearest million.
In the event Total Average Deposits rise above the levels set forth in Section 3.33, the Purchase Price shall not be adjusted upward.
Any adjustments required to reflect the actual Average Deposits through the Closing Date (as opposed to the Average Deposits calculated for purposes of the Closing Statement) will be made pursuant to the provisions of Section 3.2 hereof.
In further consideration of Seller entering into this Agreement, Buyer will pay to Seller, as described in Sections 3.2 and 3.3 of this Agreement, an amount equal to nine and fifty three one hundredths percent (9.53%) of the Average Deposits (the "Amount of Premium").
The Performance Goals for this Award are set forth in the Performance Matrix and are based on (i) the cumulative earnings per share for the two-year Performance Period, on a diluted basis, and (ii) the Two-Year Average Deposits and Other Funding Sources over the Performance Period.
Example (for illustration purposes only): -1996 Fourth Quarter Average Deposits $515MM -1996 Fourth Quarter Average Loans 390MM -1997 First Quarter Average Deposits 525MM -1997 First Quarter Average Loans 395MM Loan growth is $5MM (395-390=5) multiplied by .0009 equals $4,500 divided by 4 equals $1,125.00.
Notwithstanding any other provision hereof, in the event the average closing daily Deposits attributable to the Branches for the thirty (30) calendar day period ending as of the Closing Date (the “Average Deposits”) is more than $115 million or less than $105 million (the “Target Range”), the Amount of the Deposit Premium will be increased or decreased by the same percentage as the excess or shortfall of the Average Deposits compared to the Target Range.
In the event that the Final Average Deposits are less than the Initial Average Deposits, the premium shall be decreased by the Premium Adjustment Amount.