Minimum Capital Requirement Sample Clauses

Minimum Capital Requirement. Permit PFS to maintain Regulatory Capital less than **** percent (****%) of its Debit Balances for more than three consecutive Borrower business days.
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Minimum Capital Requirement. The Parent Tangible Common Equity shall be not less than $29,000,000 immediately prior to the Effective Time. In connection therewith, Parent shall demonstrate to the Bank, to the Bank’s satisfaction, that Parent has complied with the foregoing condition and shall provide access to such personnel and documents of Parent as is reasonably necessary in order for the Bank to verify satisfaction of such condition. If any dispute shall arise between the Bank and Parent regarding the determination of the amount of Parent Tangible Common Equity, KPMG LLP, certified public accountants, or such other accounting firm as the Bank and Parent shall mutually select (the “Accounting Firm”), shall on the Closing Date resolve disputes relating to the application of GAAP and such resolution shall be final and binding on the Bank and Parent. The Bank shall have received from the Accounting Firm a report, dated the Closing Date, and based upon procedures stated in such report and approved by the Bank and Parent, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings as to the amount of the Parent Tangible Common Equity and that the amount of Parent Tangible Common Equity has been determined in accordance with this Section 8.3.
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Minimum Capital Requirement. The Seller will at all times prior to the Facility Termination Date maintain a minimum level of Capital in an amount equal to the lesser of: (i) 80% of the Purchase Limit at such time and (ii) 100% of (a) the Net Receivables Pool Balance at such time minus (b) the Total Reserves at such time.
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Minimum Capital Requirement. The shareholders’ equity of the Bank shall be not less than $27,685,000 on the Closing Date. For purposes of calculating the amount of its shareholders’ equity, the Bank (a) may exclude the effect of (i) any reserves required to be taken pursuant to Section 6.8 of this Agreement, (ii) the amount of the actual expenses incurred by the Bank as permitted by Section 16.1 of this Agreement, not to exceed the maximum amount permitted under such section, (iii) the amount paid by the Bank to fully fund the Retirement Plan for Employees of The First National Bank of Athens (the “Bank Pension Plan”) as required by Section 11.9 of this Agreement (the “Bank Pension Plan Payment”), (iv) the lesser of (A) the total actual payments made by the Bank to fund all of the retention bonuses due under the Bank Retention Agreements and (B) the Permitted Bank Retention Agreement Payment, and (v) the investment banking fee payable to SAMCO Capital Markets as described in Section 11.10; and (b) must include the effect of accruals for (i) any Texas franchise Taxes that will be due on the final Texas franchise Tax Returns of the Bank required to be filed as a result of the Consolidation and the Bank Merger, (ii) the estimated 2005 ad valorem and property Taxes of the Bank allocable (on a per diem basis) to the portion of calendar year 2005 ending on the Effective Date, and (iii) other revenues and expenses on a pro rata basis determined through the Closing Date. The Bank shall permit FBC to participate in the determination of the amount of the Bank’s shareholders’ equity. If any dispute shall arise between the Bank and FBC regarding the determination of the amount of the Bank’s shareholders’ equity, Gxxxx Xxxxxxxx L.L.P., certified public accountants, or such other accounting firm as FBC and the Bank shall mutually select (the “Accounting Firm”), shall on the Closing Date resolve disputes relating to the application of GAAP and such resolution shall be final and binding on the Bank and FBC. In the event of a dispute, FBC shall have received from the Accounting Firm a report, dated the Closing Date and based upon procedures stated in such report and approved by FBC and the Bank, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings as to the amount of the Bank’s shareholders’ equity and that the amount of the Bank’s shareholders’ equity has been determined in accordance with the requirements of this Section 11.7.
Sample 1
Minimum Capital Requirement. The Interim Capital Assistance --------------------------- does not exceed two-thirds (2/3) of the amount necessary to maintain the Assuming Institution's ratio of tangible capital to total assets (after the reduction of the tangible capital due to the payment of the premium) at the percentage level that existed prior to Association Closing.
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Minimum Capital Requirement. The New Capital Adequacy Framework (NCAF) provides three distinct options each for computing capital requirement for credit risk and operational risk as under:- Credit Risk
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Minimum Capital Requirement. The consolidated shareholders’ equity of Cedar Creek calculated in the manner prescribed in Section 6.13 shall be not less than $11,113,000 on the Closing Date. FBC shall have received from the Accounting Firm a report, dated the Closing Date and based upon procedures stated in such report and approved by FBC and Cedar Creek, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings (i) as to the amount of the Cedar Creek Companies’ consolidated shareholders’ equity, (ii) as to the amount of the Excess Capital Distribution and (iii) that the amount of the Cedar Creek Companies’ consolidated shareholders’ equity and the amount of the Excess Capital Distribution have each been determined in accordance with the requirements of Section 6.13 of this Agreement.
Sample 1
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Minimum Capital Requirement. The stockholders’ equity of the Bank shall be not less than $10,189,577 on the Closing Date. For purposes of calculating the amount of its stockholders’ equity, the Bank (a) may exclude the effect of (i) any reserves required to be taken pursuant to Section 5.8 of this Agreement and (ii) the amount of the actual expenses incurred by the Bank as permitted by Section 12.2 of this Agreement, not to exceed the maximum amount permitted under such section; and (b) must include the effect of accruals for (i) any Texas franchise Taxes that will be due on the final Texas franchise Tax Returns of the Bank required to be filed as a result of the Merger, (ii) the estimated 2005 ad valorem and property Taxes of the Bank allocable (on a per diem basis) to the portion of calendar year 2005 ending on the Effective Date, and (iii) other revenues and expenses on a pro rata basis determined through the Closing Date. The Bank shall permit FBC to participate in the determination of the amount of the Bank’s stockholders’ equity. If any dispute shall arise between the Bank and FBC regarding the determination of the amount of the Bank’s stockholders’ equity, Pxxxxxx, Sxxxxxxxxx & Co., L.L.P., certified public accountants, or such other accounting firm as FBC and the Bank shall mutually select (the “Accounting Firm”), shall on the Closing Date resolve disputes relating to the application of GAAP and such resolution shall be final and binding on the Bank and FBC. In the event of such a dispute, FBC shall have received from the Accounting Firm a report, dated the Closing Date and based upon procedures stated in such report and approved by FBC and the Bank, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings as to the amount of the Bank’s stockholders’ equity and that the amount of the Bank’s stockholders’ equity has been determined in accordance with the requirements of this Section 8.9.
Sample 1
Minimum Capital Requirement. The minimum capital requirement for the Issuer and the Issuer Group as defined in Section 14-11 of the Financial Undertakings Act as further detailed in the Applicable Regulations. Capital Disqualification Event An event which occurs if, as a result of any replacement of or change to (or change to the interpretation by any COUlt or authority entitled to do so of) the Applicable Regulations which becomes effective on or after the Issue Date, the Bonds or part of the Bonds are no longer, or the Issuer has demonstrated to the satisfaction of the Issuer's Supervisory that there is a substantial risk that they will no longer be, eligible in accordance with the Applicable Regulations to count as cover for the capital or solvency requirements (however such terms are described from time to time in the Applicable Regulations) for the Issuer whether on a single or consolidated basis (and including, for the avoidance of doubt, any regulatory change to any applicable limitation on the amount of such capital). Rating Agency Event If and when the Bonds are rated by a Rating Agency, a change in the rating methodology, or in the interpretation of such methodology, as the case may be, becoming effective after the Issue Date, as a result of which the capital treatment assigned by a Rating Agency to the Bonds or part thereof, as notified by such Rating Agency to the Issuer Ol' as published by such Rating Agency, becomes, in the reasonable opinion of the Issuer, materially unfavourable for the Issuer, when compared to the capital treatment assigned by such Rating Agency to the Bonds, as notified by such Rating Agency to the Issuer or as published by such Rating Agency, on or around the Issue Date. Taxation Event An event which occurs as a result of any amendment to, clarification of or change (including any announced prospective change) in the laws or treaties (or regulations thereunder) of N orway affecting taxation (including any change in the interpretation by any court or authority entitled to do so) or any governmental action, on 01' after the Issue Date, and there is a substantial risk that:
Sample 1

Related to Minimum Capital Requirement

  • Increased Capital Requirements If at any time any Lender or L/C Issuer determines that, after the date hereof, the adoption of, or any change in or in the interpretation, application or administration of, or compliance with, any Requirement of Law (other than any imposition or increase of Eurodollar Reserve Requirements) from any Governmental Authority regarding capital adequacy, reserves, special deposits, compulsory loans, insurance charges against property of, deposits with or for the account of, Obligations owing to, or other credit extended or participated in by, any Lender or L/C Issuer or any similar requirement (in each case other than any imposition or increase of Eurodollar Reserve Requirements) shall have the effect of reducing the rate of return on the capital of such Lender’s or L/C Issuer (or any corporation controlling such Lender or L/C Issuer) as a consequence of its obligations under or with respect to any Loan Document or Letter of Credit to a level below that which, taking into account the capital adequacy policies of such Lender, L/C Issuer or corporation, such Lender, L/C Issuer or corporation could have achieved but for such adoption or change, then, upon demand from time to time by such Lender or L/C Issuer (with a copy of such demand to the Administrative Agent), the Borrower shall pay to the Administrative Agent for the account of such Lender amounts sufficient to compensate such Lender for such reduction.

  • Capital Requirements If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Compliance with Capital Requirements You represent that your commitment to purchase the Securities will not result in a violation of the financial responsibility requirements of Rule 15c3-1 under the 1934 Act or of any similar provision of any applicable rules of any securities exchange to which you are subject or, if you are a financial institution subject to regulation by the Board of Governors of the U.S. Federal Reserve System, the U.S. Comptroller of the Currency, or the U.S. Federal Deposit Insurance Corporation, will not place you in violation of any applicable capital requirements or restrictions of such regulator or any other regulator to which you are subject.

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Minimum Cash A. Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $

  • Minimum Condition Section 1.1(a).........................................2

  • Financial Requirements A report of monthly and cumulative financial requirements; and

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Capital and Liquidity Requirements If any Lender or any Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and liquidity requirements), by an amount deemed to be material by such Lender or such Issuing Bank, then from time to time the Borrower will pay to such Lender or such Issuing Bank, as the case may be, in Dollars, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

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