Allowance for Loan Loss Sample Clauses
The Allowance for Loan Loss clause establishes a reserve fund set aside by a lender to cover potential losses from defaulted loans. This clause typically requires the lender to periodically assess the quality of its loan portfolio and adjust the allowance based on estimated credit losses, often using historical data and current economic conditions. Its core function is to ensure that the lender maintains sufficient financial safeguards against loan defaults, thereby protecting both the lender’s financial stability and the interests of stakeholders.
Allowance for Loan Loss. Except to the extent mandated by the Company’s registered public accountants, at the Closing, the Bank’s allowance for loan and lease losses shall be not less than the Company Closing Loan Loss Reserve, as set forth in the balance sheet of the Bank as of the end of the month preceding the Closing Date, prepared in accordance with GAAP. Upon Buyer’s written request, received not earlier than five (5) calendar days prior to the Effective Time, the Company shall cause Bank to increase Bank’s allowance for loan losses by an amount specified by Buyer, which amount shall not be taken into consideration in determining the Company Closing Net Worth.
Allowance for Loan Loss. The allowance for loan losses set forth in the September 30, 2004 financial statements of Tarpon is adequate in all material respects under the requirements of GAAP to provide for possible losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of September 30, 2004. The aggregate loan balances of the Association at such date in excess of such allowance are, to the best knowledge and belief of Tarpon, collectible in accordance with their terms.
Allowance for Loan Loss. If the Offer is not consummated, at the Merger Closing, the Company's allowance for loan and lease losses shall be not less than the Company Closing Loan Loss Reserve, and the ratio of the Company's allowance for loan and lease losses to the aggregate amount of loans in the Company's portfolio of loan assets, as set forth in the balance sheet of the Company as of the end of the month preceding the Merger Closing Date, prepared in accordance with GAAP, shall not be materially lower than the ratio of the Company's allowance for loan and lease losses to the aggregate amount of loans in the Company's portfolio of loan assets, as set forth in the balance sheet of the Company as of December 31, 2005, prepared in accordance with GAAP.
Allowance for Loan Loss. DELTA Bank shall maintain its allowance for loan losses in accordance with GAAP, but in no event shall such reserve be less than 1.38% of total loans at the Closing.
Allowance for Loan Loss. The Company shall not have materially violated any Applicable Law of the PRC with respect to allowances for loan losses, including but not limited to PRC GAAP and published rules of the China Banking Regulatory Commission; particularly:
(1) at the Closing, the Company’s general reserve for loan losses to be reflected in the shareholders’ equity account of the Company’s balance sheet, as determined in good faith within ten (10) Business Days prior to the Closing by the Company’s management team and provided that such determination shall be based on the Company’s historical accounting principles consistently applied and shall have been reviewed by the Company’s external auditors, shall be no less than One Million Nine Hundred Thirty Thousand One Hundred Twenty Four Point One Three US Dollars (US$ 1,930,124.13) or 1% of total loans, whichever is higher; and
(2) at the Closing, the Company’s specific allowance for loan losses which is a contra asset defined as “Allowance for Possible Loan Losses” in the Company’s balance sheet, as determined in good faith within ten (10) Business Days prior to the Closing by the Company’s management team and provided that such determination shall be based on the Company’s historical accounting principles consistently applied and shall have been reviewed by the Company’s external auditors, (a) shall be no less than One Million Four Hundred Fifty Four Thousand One Hundred Fifty Six Point Five Nine US Dollars (US$1,454,156.59), and (b) shall adequately provide in accordance with no less than the minimum requirements of applicable published rules of the China Banking Regulatory Commission:
(i) the account of Jiangyin Runhua Chemical Products Co., Ltd.;
(ii) the account of Zhejiang Wanlifeng Textile Technology Co. Ltd.; and
(iii) any other account for which the specific allowance is necessary or required under Applicable Law. The ratio of the Company’s allowance for loan losses to the aggregate amount of loans in the Company’s portfolio of loan assets shall have been calculated in accordance with the Company’s existing methodology for such calculations as of the date of this Agreement and in accordance with CBRC classification.
Allowance for Loan Loss. At the Closing, the Company’s allowance for loan and lease losses shall be not less than the amount that is equal to 0.88% of the aggregate amount of loans in the Company’s portfolio of loan assets (Total Loans), as set forth in the balance sheet of the Company as of the end of the month preceding the Closing Date, prepared in accordance with GAAP. Upon Buyer’s written request, received not earlier than five (5) calendar days prior to the Effective Time, the Company shall increase the Company’s allowance for loan losses by an amount specified by Buyer, which increase amount shall not be taken into consideration in determining the net worth of the Company for purposes of Section 8.2(i) above.
Allowance for Loan Loss. The allowance for loan losses set forth in the December 31, 1998 financial statements of Eagle is adequate in all material respects under the requirements of GAAP to provide for possible losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of December 31, 1998. The aggregate loan balances of the Association at such date in excess of such allowance are, to the best knowledge and belief of Eagle, collectible in accordance with their terms.
Allowance for Loan Loss. The allowance for loan losses ----------------------- set forth in the December 31, 1999 financial statements of Allegiant is adequate in all material respects under the requirements of GAAP to provide for possible losses, net of recoveries relating to loans previously charged off, on loans outstanding (including accrued interest receivable) as of December 31, 1999. The aggregate loan balances of Allegiant Bank at such date in excess of such allowance are, to the knowledge and belief of Allegiant, collectible in accordance with their terms.
Allowance for Loan Loss. At the Closing, the Bank’s allowance for loan and lease losses shall be not less than $5,962,000, and the ratio of the Bank’s allowance for loan and lease losses to the aggregate amount of loans in the Bank’s portfolio of loan assets shall have been calculated in accordance with the Company’s existing methodology for such calculations as of the date of this Agreement and in accordance with GAAP.