LB Loan Adjustment definition
LB Loan Adjustment means the product of (1) the amount by which the principal amount of classified loans of LB and LSB, at the Closing Date, exceeds $11,700,000, multiplied by (2) eighteen percent; provided, however, that the LB Loan Adjustment will be reduced by the amount of Income Tax Benefit attributable to the LB Loan Adjustment. For purposes of this definition, the term “classified loans” shall mean loans of LSB that are designated by LSB with “substandard,” “doubtful,” and “loss,” or words of similar import.