Minimum Capital Requirement Sample Clauses

Minimum Capital Requirement. Permit PFS to maintain Regulatory Capital less than **** percent (****%) of its Debit Balances for more than three consecutive Borrower business days.
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Minimum Capital Requirement. The Seller will at all times prior to the Facility Termination Date maintain a minimum level of Capital in an amount equal to the lesser of: (i) 80% of the Purchase Limit at such time and (ii) 100% of (a) the Net Receivables Pool Balance at such time minus (b) the Total Reserves at such time.
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Minimum Capital Requirement. The Parent Tangible Common Equity shall be not less than $29,000,000 immediately prior to the Effective Time. In connection therewith, Parent shall demonstrate to the Bank, to the Bank’s satisfaction, that Parent has complied with the foregoing condition and shall provide access to such personnel and documents of Parent as is reasonably necessary in order for the Bank to verify satisfaction of such condition. If any dispute shall arise between the Bank and Parent regarding the determination of the amount of Parent Tangible Common Equity, KPMG LLP, certified public accountants, or such other accounting firm as the Bank and Parent shall mutually select (the “Accounting Firm”), shall on the Closing Date resolve disputes relating to the application of GAAP and such resolution shall be final and binding on the Bank and Parent. The Bank shall have received from the Accounting Firm a report, dated the Closing Date, and based upon procedures stated in such report and approved by the Bank and Parent, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings as to the amount of the Parent Tangible Common Equity and that the amount of Parent Tangible Common Equity has been determined in accordance with this Section 8.3.
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Minimum Capital Requirement. The shareholders’ equity of the Bank shall be not less than $27,685,000 on the Closing Date. For purposes of calculating the amount of its shareholders’ equity, the Bank (a) may exclude the effect of (i) any reserves required to be taken pursuant to Section 6.8 of this Agreement, (ii) the amount of the actual expenses incurred by the Bank as permitted by Section 16.1 of this Agreement, not to exceed the maximum amount permitted under such section, (iii) the amount paid by the Bank to fully fund the Retirement Plan for Employees of The First National Bank of Athens (the “Bank Pension Plan”) as required by Section 11.9 of this Agreement (the “Bank Pension Plan Payment”), (iv) the lesser of (A) the total actual payments made by the Bank to fund all of the retention bonuses due under the Bank Retention Agreements and (B) the Permitted Bank Retention Agreement Payment, and (v) the investment banking fee payable to SAMCO Capital Markets as described in Section 11.10; and (b) must include the effect of accruals for (i) any Texas franchise Taxes that will be due on the final Texas franchise Tax Returns of the Bank required to be filed as a result of the Consolidation and the Bank Merger, (ii) the estimated 2005 ad valorem and property Taxes of the Bank allocable (on a per diem basis) to the portion of calendar year 2005 ending on the Effective Date, and (iii) other revenues and expenses on a pro rata basis determined through the Closing Date. The Bank shall permit FBC to participate in the determination of the amount of the Bank’s shareholders’ equity. If any dispute shall arise between the Bank and FBC regarding the determination of the amount of the Bank’s shareholders’ equity, Gxxxx Xxxxxxxx L.L.P., certified public accountants, or such other accounting firm as FBC and the Bank shall mutually select (the “Accounting Firm”), shall on the Closing Date resolve disputes relating to the application of GAAP and such resolution shall be final and binding on the Bank and FBC. In the event of a dispute, FBC shall have received from the Accounting Firm a report, dated the Closing Date and based upon procedures stated in such report and approved by FBC and the Bank, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings as to the amount of the Bank’s shareholders’ equity and that the amount of the Bank’s shareholders’ equity has been determined in accordance with the requirements of this Section 11.7.
Sample 1
Minimum Capital Requirement. The Interim Capital Assistance --------------------------- does not exceed two-thirds (2/3) of the amount necessary to maintain the Assuming Institution's ratio of tangible capital to total assets (after the reduction of the tangible capital due to the payment of the premium) at the percentage level that existed prior to Association Closing.
Sample 1
Minimum Capital Requirement. The shareholders’ equity of the Bank shall be not less than $36,500,000 on the Closing Date. For purposes of calculating the amount of its shareholders’ equity, the Bank (a) may exclude the following amounts to the extent paid or accrued for by the Bank between the date hereof and the Closing Date (i) the after-tax effect of any reserves or accruals required to be taken pursuant to Section 6.8 of this Agreement, (ii) the after-tax costs to obtain any Phase I Environmental Assessments requested by FBC pursuant to Section 6.11(a), (iii) the after-tax amount of fees and commissions paid by the Bank to any broker or finder set forth on Schedule 4.20(a) and (iv) the after-tax amount of the sum of (x) two-thirds of the aggregate amount of retention payments (with such two-thirds portion not to exceed $1,000,000) and (y) any amounts payable under the Director Non-competition Agreements, and (b) must include the effect of accruals for (1) any Texas franchise Taxes that will be due on the final Texas franchise Tax Returns of the Bank required to be filed as a result of the Consolidation and the Bank Merger, (2) the estimated 2007 ad valorem and property Taxes of the Bank allocable (on a per diem basis) to the portion of calendar year 2007 ending on the Effective Date, (3) the Equity Litigation Deduction Amount, (4) expenses related to this Agreement, the Consolidation and the Bank Merger (“Transaction Expenses”), including, but not limited to, (A) legal and accounting fees, (B) fees and commissions payable to any broker or finder, financial advisor or investment banking firm set forth on Schedule 4.20(b), (C) the premium or additional cost incurred to provide for the continuation of certain on the Bank’s insurance policies pursuant to Section 6.12 hereof, (D) any penalty and/or liquidated damages resulting from the termination of the Bank’s data processing contracts, software licensing contracts or arrangements or similar agreements prior to or following the Effective Date, (E) costs to obtain any Phase II Environmental Assessments pursuant to Section 6.11(a) and (F) any expenses of the ESOP paid by the Bank, and (5) other normal operating revenues and expenses on a pro rata basis for the period from the date of the most recent month-end financial statements of the Bank through the Closing Date. The Bank shall permit FBC to participate in the determination of the amount of the Bank’s shareholders’ equity. If any dispute shall arise between the Bank and FBC regardin...
Sample 1
Minimum Capital Requirement. The consolidated shareholders’ equity of Cedar Creek calculated in the manner prescribed in Section 6.13 shall be not less than $11,113,000 on the Closing Date. FBC shall have received from the Accounting Firm a report, dated the Closing Date and based upon procedures stated in such report and approved by FBC and Cedar Creek, approval of such procedures not to be unreasonably withheld, detailing such procedures and providing written findings (i) as to the amount of the Cedar Creek Companies’ consolidated shareholders’ equity, (ii) as to the amount of the Excess Capital Distribution and (iii) that the amount of the Cedar Creek Companies’ consolidated shareholders’ equity and the amount of the Excess Capital Distribution have each been determined in accordance with the requirements of Section 6.13 of this Agreement.
Sample 1
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Minimum Capital Requirement. The minimum capital requirement for the Issuer and the Issuer Group as defined in Section 14-11 of the Financial Undertakings Act as further detailed in the Applicable Regulations. An event which occurs if, as a result of any replacement of or change to (or change to the interpretation by any COUlt or authority entitled to do so of) the Applicable Regulations which becomes effective on or after the Issue Date, the Bonds or part of the Bonds are no longer, or the Issuer has demonstrated to the satisfaction of the Issuer's Supervisory that there is a substantial risk that they will no longer be, eligible in accordance with the Applicable Regulations to count as cover for the capital or solvency requirements (however such terms are described from time to time in the Applicable Regulations) for the Issuer whether on a single or consolidated basis (and including, for the avoidance of doubt, any regulatory change to any applicable limitation on the amount of such capital).
Sample 1
Minimum Capital Requirement. The New Capital Adequacy Framework (NCAF) provides three distinct options each for computing capital requirement for credit risk and operational risk as under:-
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Related to Minimum Capital Requirement

  • Capital Requirements If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

  • Minimum Cash As determined on the first of every calendar month, the Company shall at all times keep on-hand unencumbered, unrestricted cash in an amount greater than or equal to $1,000,000.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Coverage Minimum Requirement Commercial General Liability Insurance, including Bodily Injury, Personal Injury, Property Damage, Advertising Injury, and Medical Payments Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Automobile Liability Insurance - Any Auto Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Professional Liability $ 1,000,000 Workers Compensation Statutory Limits Employer’s Liability $ 1,000,000

  • MINIMUM CALL-IN Employees, when called in and who report for work and no work or insufficient work is available, shall be paid for four (4) hours at their regular hourly rate of pay. No part-time employees attending school (the word "school" shall not include night school) shall be called in or paid for less than two (2) hours per day during a school day, and four (4) hours per day during a non-school day, or during the summer school recess.

  • Financial Requirements A report of monthly and cumulative financial requirements; and

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Submittal Requirements To comply with Subsection 4.1, Consultant shall submit the following: a. Certificate of Liability Insurance in the amounts specified in the section; and b. Waiver of Subrogation Endorsement as required by the section.

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