Common use of CAPITAL PLAN Clause in Contracts

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall forward to the Assistant Deputy Comptroller for review a revised, written Capital Plan for the Association, consistent with the Association's Business Plan as required by Article IV, covering at least a three-year period. At the next Board meeting following receipt of the Assistant Deputy Comptroller’s written determination of no supervisory objection, the Board shall adopt and the Association (subject to Board review and ongoing monitoring) shall implement and thereafter ensure adherence to the Capital Plan. The Capital Plan shall include: (a) projections for growth and capital requirements, based upon a detailed analysis of the Association's assets, liabilities, earnings, fixed assets, and off-balance sheet activities; (b) projections of the sources and timing of additional capital to meet the Association's future needs, as set forth in the Business Plan; (c) identification of the primary sources from which the Association will maintain an appropriate capital structure to meet the Association's future needs, as set forth in the Business Plan; and (d) contingency plans that identify alternative methods to strengthen capital, should the primary source(s) under paragraph (c) of this Article not be available. (2) Prior to adoption by the Board, a copy of the Capital Plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Association shall immediately implement and adhere to the Capital Plan. The Board shall review and update the Association's Capital Plan at least annually and more frequently if necessary or if requested by the Assistant Deputy Comptroller. Revisions to the Association’s Capital Plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.

CAPITAL PLAN. (1) Within ninety In consideration of the profit plan under Article VI (90) 1), within 120 days, the Board Bank shall forward to the Assistant Deputy Comptroller develop a one year capital plan for review a revised, written Capital Plan for the Association, consistent with the Association's Business Plan as required by Article IV, covering at least a three-calendar year period2002. At the next Board meeting following receipt of the Assistant Deputy Comptroller’s written determination of no supervisory objection, the Board shall adopt and the Association (subject to Board review and ongoing monitoring) shall implement and thereafter ensure adherence to the Capital Plan. The Capital Plan This one year plan shall include, at a minimum: (a) specific plans for the maintenance of adequate capital; (b) projections for growth and capital requirements, requirements based upon a detailed analysis of the AssociationBank's assets, liabilities, earnings, fixed assets, and off-off- balance sheet activities; (bc) projections of the sources and timing of additional capital to meet the AssociationBank's current and future needs, as set forth in the Business Plan; (cd) identification of the primary sources source(s) from which the Association will maintain an appropriate Bank may strengthen its capital structure to meet the AssociationBank's future needs, as set forth in the Business Plan; and; (de) contingency plans that identify alternative methods to strengthen capital, should the primary source(s) under paragraph (cd) of this Article above not be available; and (f) a dividend policy that permits the declaration of a dividend only: (i) when the Bank is in compliance with its approved capital plan; (ii) when the Bank is in compliance with 12 U.S.C. §§ 56 and 60, and (iii) with prior determination of no supervisory objection by the Assistant Deputy Comptroller. (2) Prior to adoption by the Board, a copy In consideration of the Capital Plan profit plan developed under Article VI (2) and the Bank's strategic plan developed in Article V, within one hundred eight (180) days, the Board shall develop a three-year capital plan. This three-year capital plan shall include, at a minimum, all items listed under this Article, subparagraph (1), sections (a) through (f). (3) Upon completion of each plan, the plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Association shall immediately implement and adhere ensure the Bank’s adherence to the Capital Planeach plan. The Board shall review and update the AssociationBank's Capital Plan at least annually and capital plan on an annual basis, or more frequently if necessary or if requested by necessary. Copies of the Assistant Deputy Comptroller. Revisions to the Association’s Capital Plan reviews and updates shall be submitted to the Assistant Deputy Comptroller. (4) Each capital plan shall be implemented pursuant to the time frames set forth in the plan unless events dictate changes to the plan. Where the Board considers changes appropriate, those changes with supporting reasons shall be submitted in writing to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall forward to the Assistant Deputy Comptroller for review his review, a revised, written Capital Plan for the AssociationBank, consistent with the AssociationBank's Business Strategic Plan as required by Article IVIII, covering at least a three-year period. At the next Board meeting following receipt of the Assistant Deputy Comptroller’s written determination of no supervisory objection, the Board shall adopt and the Association Bank (subject to Board review and ongoing monitoring) shall implement and thereafter ensure adherence to the Capital Plan. The Capital Plan shall include: (a) projections for growth and capital requirements, based upon a detailed analysis of the AssociationBank's assets, liabilities, earnings, fixed assets, and off-off- balance sheet activities; (b) projections of the sources and timing of additional capital to meet the AssociationBank's future needs, as set forth in the Business Strategic Plan; (c) identification of the primary sources from which the Association Bank will maintain an appropriate capital structure to meet the AssociationBank's future needs, as set forth in the Business Strategic Plan; and (d) contingency plans that identify alternative methods to strengthen capital, should the primary source(s) under paragraph (c) of this Article not be available. (2) The Bank may pay a dividend or make a capital distribution only: (a) when the Bank is in compliance with its approved Capital Plan and would remain in compliance with its approved Capital Plan immediately following the payment of any dividend; (b) when the Bank is in compliance with 12 U.S.C. §§ 56 and 60; and (c) following the prior written determination of no supervisory objection by the Assistant Deputy Comptroller. (3) Prior to adoption by the Board, a copy of the Capital Plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Association Bank shall immediately implement and adhere to the Capital Plan. The Board shall review and update the AssociationBank's Capital Plan at least annually and more frequently if necessary or if requested by the Assistant Deputy Comptroller. Revisions to the AssociationBank’s Capital Plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall forward to the Assistant Deputy Comptroller for review a revised, written Capital Plan capital plan for the Association, consistent with the Association's Business Plan business plan as required by Article IVIX, covering at least a three-year period. At the next Board meeting following receipt of the Assistant Deputy Comptroller’s 's written determination of no supervisory objection, the Board shall adopt and the Association (subject to Board review and ongoing monitoring) shall implement and thereafter ensure adherence to the Capital Plancapital plan. The Capital Plan capital plan shall include: (a) specific plans for the maintenance of adequate capital in relation to the Association's risk profile; (b) projections for growth and capital requirements, based upon a detailed analysis of the Association's assets, liabilities, earnings, fixed assets, and off-off balance sheet activities; (bc) projections of the sources and timing of additional capital to meet the Association's future needs, as set forth in the Business Planbusiness plan; (cd) identification of the primary sources from which the Association will maintain an appropriate capital structure to meet the Association's future needs, as set forth in the Business Planbusiness plan; and (de) contingency plans that identify alternative methods to strengthen capital, should should, the primary source(s) under paragraph (c) of this Article not be available. (2) Prior to adoption by the Board, a copy of the Capital Plan capital plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Association shall immediately implement and adhere to the Capital Plancapital plan. The Board shall review and update the Association's Capital Plan capital plan at least annually and more frequently if necessary or if requested by the Assistant Deputy Comptroller. Revisions to the Association’s Capital Plan 's capital plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.

CAPITAL PLAN. (1) Within ninety (90) days, the Board shall forward to the Assistant Deputy Comptroller for review a revised, written Capital Plan capital plan for the Association, consistent with the Association's Business Plan business plan as required by Article IVIX, covering at least a three-year period. At the next Board meeting following receipt of the Assistant Deputy Comptroller’s written determination of no supervisory objection, the Board shall adopt and the Association (subject to Board review and ongoing monitoring) shall implement and thereafter ensure adherence to the Capital Plancapital plan. The Capital Plan capital plan shall include: (a) specific plans for the maintenance of adequate capital in relation to the Association’s risk profile; (b) projections for growth and capital requirements, based upon a detailed analysis of the Association's assets, liabilities, earnings, fixed assets, and off-balance sheet activities; (bc) projections of the sources and timing of additional capital to meet the Association's future needs, as set forth in the Business Planbusiness plan; (cd) identification of the primary sources from which the Association will maintain an appropriate capital structure to meet the Association's future needs, as set forth in the Business Planbusiness plan; and (de) contingency plans that identify alternative methods to strengthen capital, should the primary source(s) under paragraph (c) of this Article not be available. (2) Prior to adoption by the Board, a copy of the Capital Plan capital plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall adopt and the Association shall immediately implement and adhere to the Capital Plancapital plan. The Board shall review and update the Association's Capital Plan capital plan at least annually and more frequently if necessary or if requested by the Assistant Deputy Comptroller. Revisions to the Association’s Capital Plan capital plan shall be submitted to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.