Borrowed Funds Clause Samples

Borrowed Funds. The fair value of advances from Federal Home Loan Bank is estimated by discounting the future cash flows using the current rates at which similar loans with the same remaining maturities could be obtained. Commitments to Extend Credit The majority of commitments to extend credit would result in loans with a market rate of interest if funded. The fair value of these commitments are the fees that would be charged to customers to enter into similar agreements. For fixed rate loan commitments, the fair value also considers the difference between current levels of interest rates and the committed rates.

Borrowed Funds. ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ has secured a line of credit from American National Bank in the amount of $500,000 for our benefit. ▇▇. ▇▇▇▇▇▇ has agreed to have the Bank transfer to the Depository account of ▇▇▇▇▇▇ Development Company and C.S. Finance L.L.C. whatever amounts are necessary from this line to purchase the ▇▇▇▇▇ Preferred B shares, up to the amount of $500,000. American National Bank is also acting as the Depository in connection with the Offer. As a condition of such loan, Offeror ▇▇▇▇▇▇ Development Company has pledged its and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇'▇, ▇▇▇▇▇ Common and Preferred B shares to secure the line of credit from American National Bank. American National Bank has served as ▇▇▇▇▇'▇ bank since 2003, and is the depository for ▇▇▇▇▇'▇ accounts, including the Preferred B money market account with a balance of approximately $270,000.

Borrowed Funds. The Bank was obligated for borrowings as follows: June 30, 1997 June 30, 1996 -------------------- -------------------- Weighted Weighted average average rate Amount rate Amount ----- ------ ----- -------- (Dollars thousands) Advances from FHLB - NY (due 2002).... 5.58% $ 40,000 5.98% $ 3,000 Reverse Repurchase Agreements ........ 5.78% 311,913 5.41% 263,160 ------- ------- $351,913 $266,160 ======== ======== Information concerning borrowings under reverse repurchase agreements is summarized as follows: At or for the Year Ended -------------------------------- June 30, 1997 June 30, 1996 ------------- ------------- (Dollars in thousands) Average Balance during the Year.................................... $ 288,845 $ 150,173 Average Interest Rate during the Year.............................. 5.63% 5.58% Maximum Month-end Balance during the Year.......................... $ 326,391 $ 279,678 Mortgage-Backed Securities Pledged as Collateral under Reverse Repurchase Agreements at Year End: Carrying Value................................................ $ 326,843 $ 284,124 Estimated Market Value........................................ $ 326,801 $ 277,652 Reverse repurchase agreements at June 30, 1997 have contractual maturities as follows: Year Ended June 30, Amount (In thousands) 1998 $ 258,413 1999 33,500 2000 -- 2001 -- 2002 20,000 ------ $ 311,913 ========= As a member of the Federal Home Loan Bank System (FHLB), the Bank borrows from the FHLB on a secured basis. Borrowings at June 30, 1997 and 1996 were secured by a blanket lien over all assets equal to 110% of borrowings.

Borrowed Funds. Seller shall procure that, as of the Closing Date, no member of the Target Group shall have any indebtedness to any bank or other financial institution.

Borrowed Funds. The Company may from time to time meet its capital requirements through the use of borrowed capital in such amounts and on such terms as the Managers shall deem necessary for the acquisition, improvement, operation and maintenance of the Company and for the operation of the Company's business.

Borrowed Funds. In general, an SBLC may not be capitalized with bor- rowed funds. Shareholders owning 10 percent or more of any class of its stock must not use personally-bor- rowed funds to purchase the stock un- less the net worth of the shareholder is at least twice the amount borrowed or unless the shareholder receives SBA’s prior written approval for a lower ratio. [73 FR 75515, Dec. 11, 2008]

Borrowed Funds. Indebtedness consisting of Lender Obligations, including the Advances and the Letters of Credit;

Borrowed Funds. In general, an SBLC may not be capitalized with bor- rowed funds. Shareholders owning 10 percent or more of any class of its stock must not use personally-bor- rowed funds to purchase the stock un- less the net worth of the shareholder is at least twice the amount borrowed or unless the shareholder receives SBA’s prior written approval for a lower ratio. [73 FR 75515, Dec. 11, 2008, as amended at 85 FR 78215, Dec. 4, 2020; 87 FR 38909, June 30, 2022; 88 FR 21899, Apr. 12, 2023] (a) Minimum capital requirements. (1) Beginning on January 4, 2024, each SBLC that makes or acquires a 7(a) loan must maintain, at a minimum, unencumbered paid-in capital and paid- in surplus of at least $5,000,000, or 10 percent of the aggregate of its share of all outstanding loans, whichever is greater. (2) Any SBLC approved on or after January 4, 2021, including in the event of a change of ownership or control, must maintain the minimum capital requirement set forth in paragraph (a)(1) of this section. (3) Unless subject to paragraph (a)(1) or (2) of this section, an SBLC must comply with the minimum capital re- quirements that were in effect on Jan- uary 3, 2021. (4) A Community Advantage SBLC must maintain a minimum amount of capital as determined at the discretion of the Administrator in consultation with SBA’s Associate Administrator for the Office of Capital Access (AA/ OCA), or their designee(s). The min- imum capital amount as published in Loan Program Requirements will en- sure sufficient risk protection for SBA and lenders while not burdening small- er lenders with large capital require- ments. (5) Community Advantage SBLCs must maintain a loan loss reserve ac- count as determined at the discretion of the Administrator in consultation with SBA’s Associate Administrator for the Office of Capital Access (AA/ OCA), or their designee(s) as published in Loan Program Requirements.

Borrowed Funds. If borrowed funds are not in the same account(s) as the HHA’s own non-borrowed funds, the HHA also must provide proof that the borrowed funds are available for use in operating the HHA, by providing, at a minimum, a copy of the statement(s) of the HHA’s savings, checking, or other account(s) containing the bor- rowed funds, accompanied by an attes- tation from an officer of the bank or other financial institution that the funds are in the account(s) and are im- mediately available to the HHA. As with the HHA’s own (that is, non-bor- rowed) funds, CMS later may require the HHA to establish the current avail- ability of such borrowed funds, includ- ing furnishing an attestation from a fi- nancial institution or other source, as may be appropriate, and to establish that such funds will remain available until a date when the HHA will have been surveyed by the State agency or by an approved accrediting organiza- tion.