Characterization of Senior Subordinated Securities. The Investor and the Credit Union hereby agree that the funds received by the Credit Union in connection with the Purchase shall be deposited into an account (the “Secondary Capital Account”) and that the Secondary Capital Account, together with the Senior Subordinated Securities, shall constitute a “secondary capital account” for purposes of the NCUA Regulations.
Appears in 36 contracts
Samples: Securities Purchase Agreement, Securities Purchase Agreement, Securities Purchase Agreement
