Capital Adequacy Requirements. If any law or guideline or interpretation or application thereof by any official body charged with the interpretation or administration thereof or compliance with any request or directive of any official body (whether or not having the force of law), now existing or hereafter adopted or imposed, modifies or deems applicable any capital adequacy, reserve requirements, special deposit or similar requirements against assets (funded or contingent) of, or credits extended by or commitments to extend credit by, any Bank and the result thereof is to have the effect of reducing the rate of return on such Bank's capital as a consequence of its obligations hereunder to make and continue the Loans or to issue or participate in any Letter of Credit to a level below that which such Bank could have achieved but for such adoption, imposition or modification, taking into consideration such Bank's policies with respect to capital adequacy or reserve requirements or special deposit or similar requirements, by an amount which such Bank deems to be material, such Bank shall notify the Borrower of such events. After such Bank notifies the Borrower of such events, such Bank shall promptly deliver to the Borrower a statement of the amount necessary to compensate such Bank for the reduction in the rate of return on its capital attributable to such Bank's obligations hereunder to make and continue the Loans or to issue or participate in any Letter of Credit. Such Bank shall determine the capital compensation amount in good faith, using reasonable attribution and averaging methods. Such Bank shall from time to time notify the Borrower of the amount so determined and such amount shall be due and payable by the Borrower to such Bank thirty (30) days after such notice is given; provided, however, that if the Borrower pay the Loans in full (including principal and interest), cancel any outstanding Letters of Credit, and terminate the Revolving Credit and the commitment hereunder to issue Letters of Credit, within such thirty (30) day period, the Borrower shall not be liable to such Bank to pay such amount determined pursuant to this Section 2.
Capital Adequacy Requirements. (a) If any Lender shall have determined that the adoption after the date of this Agreement of any applicable law, rule or regulation regarding capital adequacy, or any change therein after the date of this Agreement, or any change in the interpretation or administration thereof after the date of this Agreement by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by such Lender with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency issued after the date of this Agreement, affects or would affect the amount of capital required or expected to be maintained by such Lender or any corporation controlling such Lender, and that the amount of such capital requirement is increased, or has or would have the effect of reducing the rate of return on such Lender’s or such corporation’s capital to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance, in each case as a consequence of its obligations hereunder (taking into consideration such Lender’s policies with respect to capital adequacy), then the Borrower shall pay to such Lender such additional amount or amounts as are reasonably determined by such Lender to be sufficient to compensate such Lender or such corporation in the light of such circumstances, for a period not to exceed one hundred eighty (180) days, which amounts shall be due and payable at the end of such period, subject however, to the provisions of Section 12.10.
(b) A certificate of such Lender setting forth such amount or amounts as shall be necessary to compensate such Lender as specified in Section 5.4(a) above shall be delivered within sixty (60) days of such occurrence described in Section 5.4(a) above to the Borrower and shall be conclusive and binding, absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within fifteen (15) days after such Lender delivers such certificate. In preparing such certificate, such Lender may employ such assumptions and allocations of costs and expenses as it shall in good xxxxx xxxx reasonable and may use any reasonable averaging and attribution method.
Capital Adequacy Requirements. 21 2.7 Time, Place and Manner of Payments.............................................................21 2.8 Loan Account...................................................................................21 2.9 Letter of Credit Subfacility...................................................................21
Capital Adequacy Requirements. If any Bank shall determine that the application of any law, rule, regulation or guideline regarding capital adequacy, or any change therein or any change in the interpretation or administration thereof by any central bank or other Governmental Authority charged with the interpretation or administration thereof, or compliance by such Bank (or its lending office) or any corporation controlling such Bank, with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such central bank or other authority (which in any such case has become effective after the date hereof), affects or would affect the amount of capital required or expected to be maintained by such Bank or any corporation controlling such Bank, and such Bank determines that the amount of such capital is increased as a consequence of its obligation under this Agreement, then, upon demand of such Bank, the Borrower shall, within ten (10) days following demand therefor, pay to such Bank, from time to time as specified by the Bank, additional amounts sufficient to compensate such Bank for such increase.
Capital Adequacy Requirements. It is the Group’s policy to maintain a strong capital base, to seek to expand this where appropriate and to utilise it efficiently in the Group’s development as a diversified international financial services group. Long-term debt, undated capital notes and preference stock are raised in various currencies to help maintain a prudent relationship between the capital base and the underlying currency risks of the Group’s business.
Capital Adequacy Requirements. If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or such Lender’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company, if any, could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), then such Lender shall from time to time notify the Borrower and the Agent of such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. Such notice shall set forth in reasonable detail the basis for such determination. Such amount shall be due and payable by the Borrower to such Lender ten (10) Business Days after such notice is given.
Capital Adequacy Requirements. If the Lender determines that any Change in Law affecting the Lender or any lending office of the Lender regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on the Lender's capital as a consequence of this Agreement or the Term Loan to a level below that which the Lender could have achieved but for such Change in Law (taking into consideration the Lender's policies with respect to capital adequacy), then from time to time the Borrowers will pay to the Lender such additional amount or amounts as will compensate the Lender for any such reduction suffered.
Capital Adequacy Requirements. The Group’s capital resources policy has been developed within the supervisory requirements of the Financial Regulator, which applies a risk-asset ratio as the measure of capital adequacy, and with reference to guidelines issued in 1988 by the Basel Committee and capital adequacy requirements set by the European Union. The basic instrument of capital monitoring is the risk-asset ratio as developed by the Basel Committee. This ratio derives from a consideration of capital as a cover for the credit and market risks inherent in Group assets. Capital is defined by reference to the European Union Own Funds Directive (‘‘OFD’’) and Capital Adequacy Directive (‘‘CAD’’), and is divided into ‘‘Tier 1’’ capital consisting largely of stockholders’ equity, ‘‘Tier 2’’ capital including general provisions and debt capital instruments, and ‘‘Tier 3’’ capital including short-term subordinated loan capital and net trading book profits. Assets (both on- and off-balance sheet) are weighted to allow for relative risk according to rules derived from the European Union Solvency Ratio Directive. The target standard risk-asset ratio set by the Basel Committee is 8%, of which the Tier 1 element must be at least 4%. The minimum risk-asset ratio is set by the Financial Regulator and satisfies capital adequacy requirements of the EU, which took effect on 1st January, 1993. Capital Adequacy Data The following table shows the components and basis of calculation of the Group’s Tier 1 and Total Capital ratios for 31st March, 2006 together with comparative figures for 1st April, 2005. 31st March, 1st April, 2006 Am 2005 Am Adjusted Capital Base Share Capital ..................................................................................................... 656 656 Eligible reserves ................................................................................................. 3,941 3,073 Minority Interests .............................................................................................. 45 135 Non-Cumulative Preference stock ..................................................................... 65 65 Preferred securities............................................................................................. 2,516 1,686 Bristol & Xxxx preference shares....................................................................... 72 — Regulatory adjustments (net)............................................................................. 39 405 Total Tier 1.......................
Capital Adequacy Requirements. (a) If any Lender or Issuer shall have determined that the adoption after the date of this Agreement of any applicable law, rule or regulation regarding capital adequacy, or any change (“Change”) therein after the date of this Agreement, or any change in the
Capital Adequacy Requirements. If Bank determines that any Change in Law affecting Bank or its lending office or Bank’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on Bank’s capital or on the capital of Bank’s holding company, if any, as a consequence of this Term Loan Facility Letter, the commitment of Bank hereunder or the Term Loan made by Bank hereunder to a level below that which Bank or Bank’s holding company could have achieved but for such Change in Law (taking into consideration Bank’s policies and Xxxxxx Enterprises, Inc. the policies of Bank’s holding company with respect to capital adequacy), then from time to time, within 15 days after demand by Bank, Borrower shall pay to Bank such additional amount or amounts as will compensate Bank or Bank’s holding company for any such reduction suffered.
