Common use of BANK CAPITAL Clause in Contracts

BANK CAPITAL. If after the retirement of Executive, the capital of the Bank should fall below the minimum required by the Bank’s regulatory authority and/or the Bank fails to make a profit in any two (2) successive years, Executive may, at his option, demand that the Bank pay him the balance of the benefits due him in a lump sum. The balance due Executive shall be an amount of money equal to his accrued liability benefit account balance and shall be paid to him by the Bank within thirty (30) days of his demand.

BANK CAPITAL. If after the retirement of Executive, the Tier 1 capital of the Bank should fall below the minimum required by the Bank’s regulatory authority and/or the Bank fails to make a profit in any two (2) successive years, Executive may, at his option, demand that the Bank pay him the balance of the benefits due him in a lump sum. The balance due Executive shall be an amount of money equal to his accrued liability benefit account balance and shall be paid to him by the Bank within thirty (30) days of his demand.