Capital Floor definition

Capital Floor means licensee Adjusted Net Assets of £0 per Domestic Customer.

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Capital Floor means the minimum paid up share capital which must be maintained by a licensed insurer pursuant to section 32 of the Law.

Capital Floor means an amount equal to the greater of (i) R50 000 000 (fifty million Rand) or (ii) 13% (thirteen percent) of the aggregate risk weighted assets of Bank Zero;

Examples of Capital Floor in a sentence

• If the Company is delivered on the Closing Date with such estimated Working Capital below the Working Capital Floor, the Purchase Price shall be adjusted downward dollar-for-dollar in the amount of the deficiency.

• Any excess cash over the Working Capital Floor will be part of the Dividend to Seller on the Closing Date.

• If the Estimated Net Working Capital is less than the Net Working Capital Floor, then the Purchase Payments shall be decreased by the amount of such deficiency, allocated among the Equity Participants in accordance with each Equity Participant’s Equity Proportion.

• In the event that the Net Working Capital as calculated based on the Closing Balance Sheet is equal to or greater than the Target Net Working Capital Floor and equal to or less than the Target Net Working Capital Ceiling, then no payments shall be required to be made pursuant to this Section 3.6(a).

• If the Estimated Closing Date Working Capital is less than the Target Working Capital Floor, then the Purchase Price and, as provided in Section 2.5(a), the Closing Cash Payment shall be reduced, on a dollar-for-dollar basis, by the amount by which the Estimated Closing Date Working Capital is less than the Target Working Capital Floor (the “Estimated Reduction Amount”).

• If the Estimated Closing Date Working Capital is equal to or greater than the Target Working Capital Floor but less than or equal to the Target Working Capital Ceiling, then neither the Purchase Price nor the Closing Cash Payment shall be adjusted pursuant to this Section 2.6(a).

• If the Estimated Net Working Capital is less than the Target Net Working Capital Floor, then the Closing Payment payable to the Sellers at the Closing pursuant to Section 1.2 and Section 1.4 shall be reduced by an amount equal to the amount by which the Target Net Working Capital Floor exceeds the Estimated Net Working Capital.

• In the event that Estimated Net Working Capital is equal to or greater than the Target Net Working Capital Floor and equal to or less than the Target Net Working Capital Ceiling, then no adjustment to the Closing Date Cash Purchase Price shall be made pursuant to the provisions of this Section 3.4(a).

• The Parties acknowledge that no adjustments may be made to the Working Capital Target, the Working Capital Floor or the Working Capital Ceiling.

• If the Estimated Net Working Capital is equal to or greater than the Target Net Working Capital Floor and equal to or less than the Target Net Working Capital Ceiling, then no adjustments shall be made pursuant to this Section 1.5(a).