Common use of Funding at Special Contribution Percentage Clause in Contracts

Funding at Special Contribution Percentage. If during a Dividend Restriction Period, the amount of an FHLBank’s Restricted Retained Earnings decreases in any calendar quarter, except as provided in subsections II.B.3(i) and (ii)(a) above, the FHLBank shall allocate the Special Contribution Percentage to its Restricted Retained Earnings account beginning at the following calendar quarter-end (except as provided in the last sentence of this subsection). Thereafter, such FHLBank shall continue to allocate the Special Contribution Percentage to its Restricted Retained Earnings account until the cumulative difference between: (i) the allocations made using the Special Contribution Percentage; and (ii) the allocations that would have been made if the Regular Contribution Percentage applied, is equal to the amount of the prior decrease in the amount of its Restricted Retained Earnings account arising from the application of subsection II.B.3(ii)(b). If at any calendar quarter-end the Special Contribution Percentage would result in a cumulative allocation in excess of such prior decrease in the amount of Restricted Retained Earnings: (i) the FHLBank may allocate such percentage to the Restricted Retained Earnings account that shall exactly restore the amount of the prior decrease, plus the amount of the Regular Contribution Percentage for that quarter; and (ii) the FHLBank in subsequent quarters shall revert to paying at least the Regular Contribution Percentage.

Funding at Special Contribution Percentage. If during a Dividend Restriction Period, the amount of an FHLBank’s 's Restricted Retained Earnings decreases in any calendar quarter, except as provided in subsections II.B.3(i) and (ii)(a) above, the FHLBank shall allocate the Special Contribution Percentage to its Restricted Retained Earnings account beginning at the following calendar quarter-end (except as provided in the last sentence of this subsection). Thereafter, such FHLBank shall continue to allocate the Special Contribution Percentage to its Restricted Retained Earnings account until the cumulative difference between: (i) the allocations made using the Special Contribution Percentage; and (ii) the allocations that would have been made if the Regular Contribution Percentage applied, is equal to the amount of the prior decrease in the amount of its Restricted Retained Earnings account arising from the application of subsection II.B.3(ii)(b). If at any calendar quarter-end the Special Contribution Percentage would result in a cumulative allocation in excess of such prior decrease in the amount of Restricted Retained Earnings: (i) the FHLBank may allocate such percentage to the Restricted Retained Earnings account that shall exactly restore the amount of the prior decrease, plus the amount of the Regular Contribution Percentage for that quarter; and (ii) the FHLBank in subsequent quarters shall revert to paying at least the Regular Contribution Percentage.