FIRST LOSS AMOUNT Sample Clauses

FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a transaction bid of ($7,651,000) (negative) and a Deposit premium bid of 3.88%. The Deposit premium bid will be applied to the total of all Deposits assumed hereunder except for brokered, CDARS, and any Quickrate or similar subscription services Deposits. The First Loss Amount shall be determined by adding (i) the transaction bid, (ii) the Deposit premium bid, and (iii) the Equity Adjustment. If the First Loss Amount is a positive number, then this is the Losses on Single Family Shared-Loss Loans and Net Charge-offs on Shared Loss Assets that the Assuming Bank will incur before loss- sharing commences under Exhibits 4.15A and 4.15B. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing and loss sharing shall commence immediately.
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FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of a negative Nine Million Nine Hundred Thousand and no/100 [($ 9,900,000.00)] Dollars for the Assets purchased and Liabilities Assumed hereunder. The First Loss Amount will be increased by the amount of uninsured deposits determined by the FDIC on or before Monday, February 9, 2009 (or such other date as the parties may agree), less a premium on the uninsured deposits. The uninsured deposit premium is to be the lesser of four percent (4%) of uninsured deposits or Two Hundred Eighty Thousand and no/100 ($280,000.00) Dollars. Since the First Loss Amount is a negative number, the increase will make the First Loss Position a larger negative number, larger by the amount of uninsured deposits, net of the deposit premium on the uninsured deposits.
Sample 1
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of $ -0- (zero bid) for the Assets purchased and Liabilities Assumed hereunder. The First Loss Amount shall be adjusted either positively or negatively by the Net Asset Value as of the Bank Closing Date. If the First Loss Amount as adjusted by the Net Asset Value results in a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing.
Sample 1
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of a negative ($45,000,000.00). The First Loss Amount shall be adjusted by crediting that figure with the difference between the assets acquired and the liabilities assumed by the Assuming Bank as of Bank Closing (approximately $6,000,000.00) and including any prepayment penalty incurred by the Assuming Bank in paying off any liability assumed pursuant to Section 2.1(c) of this Agreement. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing.
Sample 1

Related to FIRST LOSS AMOUNT

  • Monthly Certificates Not later than fifteen (15) days after the end of each Shared-Loss Month, beginning with the month in which the Commencement Date occurs and ending in the Final Shared-Loss Month, the Assuming Institution shall deliver to the Receiver a certificate, signed by an officer of the Assuming Institution involved in, or responsible for, the administration and servicing of the Shared-Loss Loans whose name appears on a list of servicing officers furnished by the Assuming Institution to the Receiver, (a “Servicing Officer”) setting forth in such form and detail as the Receiver may reasonably specify (a “Monthly Certificate”):

  • Determination of Loss Amount The amount of any Loss subject to indemnification under Section 9.02 or Section 9.03 shall be calculated net of (i) any Tax Benefit actually received by the Indemnitee or any of its Affiliates on account of such Loss within one (1) year of such Loss and (ii) any insurance proceeds or any indemnity, contribution or other similar payment received by the Indemnitee from any third party with respect thereto (including under or pursuant to any insurance policy, title insurance policy, indemnity, reimbursement arrangement or contract pursuant to which or under which such Indemnitee or any of its Affiliates is a party or has rights) (the “Alternative Arrangements”), in each case net of the costs of collection and any increases in premiums or Taxes with respect to such proceeds. If the Indemnitee receives a Tax Benefit within one (1) year after an indemnification payment is made to it, the Indemnitee shall promptly pay to the Indemnitor the amount of such Tax Benefit (up to the amount of the indemnification payments previously made in respect of such Loss) at such time or times as and to the extent that such Tax Benefit is actually realized by the Indemnitee. For purposes hereof, “Tax Benefit” shall mean any refund of Taxes paid or reduction in the amount of Taxes which otherwise would have been paid, in either case realized in cash, net of any related Tax Losses. The Indemnitee shall use commercially reasonable efforts to seek full recovery under all Alternative Arrangements covering any Loss to the same extent as they would if such Loss were not subject to indemnification hereunder. In the event that an insurance or other recovery is made by any Indemnitee with respect to any Loss for which any such Person has been indemnified hereunder, then a refund equal to the aggregate amount of the recovery (up to the amount of the indemnification payments previously made in respect of such Loss) shall be made promptly to the Indemnitor.

  • Net Loss After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows:

  • Loan Loss Reserves With respect to the Bank, maintain at all times loan loss reserves in amounts deemed adequate by all federal and state regulatory authorities.

  • ULTIMATE NET LOSS (a) This term means all Losses under Covered Policies in force at the time of a Covered Event prior to the application of the Company’s Retention and Coverage Level, and excluding loss adjustment expense and any exclusions under Article VI.

  • Quarterly Certificates (i) Not later than thirty (30) days after the end of each Calendar Quarter from and including the initial Calendar Quarter to and including the Calendar Quarter in which the Applicable Anniversary of the Commencement Date falls (each of such Calendar Quarters being referred to herein as a “Shared-Loss Quarter”), the Assuming Institution shall deliver to the Receiver a certificate, signed by the Assuming Institution’s chief executive officer and its chief financial officer, setting forth in such form and detail as the Receiver may specify (a “Quarterly Certificate”)(an example of a Quarterly Certificate is attached as Exhibit 1):

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