Examples of BHC Subsidiary in a sentence
With respect to each Investor Designee who resigns pursuant to Section 4.6(a), the Investor shall have the right to designate an Investor Designee for nomination to the Board pursuant to Section 4.2(a) at the first Annual Meeting of the Shareholders of the Company following such resignation; provided that such Investor Designee serving on the Board would not result in the Company being deemed a BHC Subsidiary of the Investor.
All loans, contracts, leases, commitments or other obligations listed on Schedule 3.20 were made on arm's length terms or terms more favorable to Heritage BHC or Heritage BHC Subsidiary, as applicable.
On one level, we understand that there may have been a perspective that a Large BHC Subsidiary that is currently subject to CCAR and DFAST stress testing should not be given a temporary “reprieve” from those stricter requirements simply because it will become, or will be owned by, an IHC that will become subject to those requirements at a later date.
Except as disclosed on Schedule 3.10, as of the date hereof, neither Heritage BHC nor any Heritage BHC Subsidiary has any liability for taxes in excess of the amount reserved or provided for in the Heritage BHC Financial Statements (but excluding, for this purpose only, any liability reflected thereon for deferred taxes to reflect timing differences between tax and financial accounting methods).
For FBOs with a Large BHC Subsidiary, there are a number of different ways to restructure their operations to create what will ultimately be a single IHC owning all or most of the FBO’s U.S. subsidiaries.
Each BHC Subsidiary is either a bank, a savings association or a corporation and is duly organized, validly existing, and (as to corporations) in good standing under the Laws of the jurisdiction in which it is organized and has the corporate power and authority necessary for it to own, lease and operate its Assets and to carry on its business as now conducted.
In light of these changes the Council agreed to undertake a second public consultation exercise on the document and this was undertaken between 16 August 2012 and 11 October 2012.
Subject to the terms and conditions of this Agreement: In the event that a Regulatory Event that subjects the business of the Company or any of its Affiliates to material restrictions occurs, the Investor and the Company shall promptly use reasonable best efforts to take actions necessary to ensure that the Company is not deemed a BHC Subsidiary of the Investor.
Moreover, we would not support any streamlining that would result in applying CCAR processes, reporting or review to the IHC’s capital plan, merely to coordinate review of, and production of information for, the IHC and Large BHC Subsidiary.
As an example, an existing Large BHC Subsidiary could itself create a lower-tier intermediate BHC to which the DFAST, CCAR or other enhanced prudential standards could apply, and these and other requirements would phase-in for the existing Large BHC Subsidiary on a consolidated basis under the transition periods for IHCs set forth in the Final FBO 165 Rules.endoffootnote.