Criticized Assets definition

Criticized Assets means, at any particular time, all assets of the Bank classified as “Loss,” “Doubtful,” “Substandard,” or “other Assets Especially Mentioned,” or in any equivalent category by the Bank or any governmental or regulatory authority.

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Criticized Assets shall have the meaning ascribed thereto in Section 4.27(b) hereof.

Criticized Assets means Association assets that are, and subsequent to the Effective Date will have been, properly classified as “substandard,” “doubtful,” “loss,” or “special mention,” either by the Association (pursuant to 12 CFR §560.160(a)(1)) or by OTS (pursuant to 12 CFR §560.160(a)(2) and other applicable laws and regulations.)5

Examples of Criticized Assets in a sentence

• As of December 31, 2006, the Company and its Subsidiaries, taken as a whole, did not have outstanding Loans and assets classified as “Other Real Estate Owned” with an aggregate then outstanding, fully committed principal amount in excess of that amount set forth on Section 5.16(a) of the Company Disclosure Schedule, net of specific reserves with respect to such Loans and assets, that were designated as of such date by the Company as the Company Criticized Assets.

• Section 3.26(a)(iii) of the Discover Disclosure Schedule sets forth (A) a summary of Criticized Assets as of September 30, 2023, by category of Loan (e.g., student, personal, home, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of Discover or any of its Subsidiaries that, as of September 30, 2023, is classified as “Other Real Estate Owned” and the book value thereof.

• Section 3.16(a) of the MBNA Disclosure Schedule sets forth (A) a summary of Criticized Assets as of March 31, 2005, by category of Loan (e.g., commercial, consumer, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of MBNA or any of its Subsidiaries that, as of March 31, 2005, is classified as “Other Real Estate Owned” and the book value thereof.

• As of March 31, 2007, the Company and its Subsidiaries, taken as a whole, did not have outstanding Loans and assets classified as “Other Real Estate Owned” with an aggregate then outstanding, fully committed principal amount in excess of that amount set forth on Section 3.16(a) of the Company Disclosure Schedule, net of specific reserves with respect to such Loans and assets, that were designated as of such date by the Company as the Company Criticized Assets.

• Section 3.16(a) of the GBC Disclosure Schedule sets forth (A) a summary of Criticized Assets as of March 31, 2006, by category of Loan (e.g., commercial, consumer, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of GBC or any of its Subsidiaries that, as of March 31, 2006, is classified as “Other Real Estate Owned” and the book value thereof.

More Definitions of Criticized Assets

Criticized Assets shall have the meaning ascribed thereto in Section 4.20(b) hereof.

Criticized Assets shall have the meaning assigned such term in Section 5.8(b) hereof.

Criticized Assets means, at any particular time, all assets of the Bank classified as “Loss,” “Doubtful,” “Substandard,” or “other Assets Especially Mentioned,” or in any equivalent category by the Bank or any governmental or regulatory authority. LETTER LOAN AGREEMENT - #91425 Page 1

Criticized Assets shall include all classified assets, assets designated special mention, all nonperforming assets and all delinquent loans. Supervisory Agreement Severn Savings Bank, FSB 9. The Board’s review of the Quarterly Asset Reports, and any corrective actions adopted by the Board, shall be fully documented in the appropriate Board meeting minutes. A copy of the Quarterly Asset Report and the Board meeting minutes detailing the Board’s review shall be provided to the Regional Director within ten (10) days after the Board meeting.

Criticized Assets shall include all classified assets, assets designated special mention, all nonperforming assets and all delinquent loans, that are ninety (90) or more days delinquent. (f) an assessment of the Association’s compliance with the Problem Asset Plan; and (g) a discussion of the actions taken during the preceding quarter to reduce the Association’s level of criticized assets and delinquent loans. 9. The Board’s review of the Quarterly Asset Reports, and any corrective actions adopted by the Board, shall be fully documented in the Board meeting minutes. A copy of the Quarterly Asset Report and the Board meeting minutes detailing the Board’s review shall be provided to the Regional Director within thirty (30) days after the Board meeting.

Criticized Assets has the meaning assigned to it in Section 3.02(r).

Criticized Assets has the meaning set forth in Section 4.32(a).