Tangible Capital definition
Tangible Capital means Tangible Net Worth plus Subordinated Debt. "Tangible Net Worth" means Borrower's total assets excluding all intangible assets (i.
Tangible Capital means, at any time the same is to be determined, for any Banking Subsidiary, Net Worth of such Banking Subsidiary minus intangible assets of such Banking Subsidiary (excluding, however, from the determination of intangible assets investments of such Banking Subsidiary in any of its real estate subsidiaries to the extent characterized as an intangible asset).
Tangible Capital mean Tangible Net Worth plus Subordinated Debt. The words "Tangible Net Worth" mean Borrower's total assets excluding all intangible assets (i.e., goodwill, trademarks, patents, copyright, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less Total Debt. The words "Total Debt" mean all of Borrower's liabilities including Subordinated Debt. The words "Subordinated Debt" mean indebtedness and liabilities of Borrower which have been subordinated by written agreement to indebtedness owned by Borrower to Lender in form and substance acceptable to Lender.
Examples of Tangible Capital in a sentence
The Borrower will not permit the ratio of Non-Performing Loans plus OREO to Tangible Capital of the Borrower and the Subsidiary Banks (on a consolidated basis), expressed as a percentage, as of the last day of the fiscal quarter ending December 31, 2025 and the last day of each fiscal quarter thereafter, to be greater than 12.00%.
More Definitions of Tangible Capital
Tangible Capital. With respect to any Person, as of any date of determination, the sum of (i) the total amount of the capital stock, surplus, subordinated debt and undivided profits accounts less intangible assets of such Person, in each case determined in accordance with GAAP, and (ii) Loan Loss Reserves of such Person.
Tangible Capital has the meaning ascribed to such term in Section 7.3.
Tangible Capital means the amount equal to total shareholders’ equity, plus Funded Debt, less the value of intangible assets, all of the foregoing to be determined in accordance with the financial statements and reports provided to Lender, which are to be prepared in accordance with GAAP.
Tangible Capital has the meaning defined in Section 5.13.
Tangible Capital shall be determined in accordance with GAAP and shall mean (i) with respect to Target, the total capital of the Target Companies (excluding accumulated comprehensive income) on a consolidated basis minus goodwill and core deposit intangible balances of the Target Companies on a consolidated basis, and (ii) with respect to Orange Park, the total capital of Orange Park (excluding accumulated comprehensive income) minus goodwill and core deposit intangible balances of Orange Park.
Tangible Capital means Tangible Net Worth plus Subordinated Debt
Tangible Capital shall be determined in accordance with GAAP and shall mean the (i) total capital of the Target Companies (excluding accumulated comprehensive income) on a consolidated basis minus (ii) (A) goodwill and core deposit intangible balances of Target Companies on a consolidated basis and (B) all Target expenses related to the Merger, including legal fees, accounting fees, investment banking fees, printing charges, costs incurred in terminating existing data processing contracts and success fee, change of control or similar payments required to be made to employees as a result of the consummation of the Merger.