Minimum Capital Requirements. Notwithstanding any provision of this Agreement to the contrary, the Option granted under the Agreement shall expire, to the extent not exercised, within 45 days following the receipt of notice from the Bank’s state or primary federal regulator (“Regulator”) that (i) the Bank has not maintained its minimum capital requirements (as determined by the Regulator) and (ii) the Regulator is requiring termination or forfeiture of options. Upon receipt of such notice from the Regulator, the Company shall promptly notify each Participant that the Option issued under this Agreement has become fully exercisable and vested to the full extent of the grant and that the Participant must exercise the Option granted to him prior to the end of the 45-day period or such earlier period as may be specified by the Regulator or forfeit the Option. In case of forfeiture, the Participant shall have no cause of action, of any kind or nature, with respect to the forfeiture against the Company or any Affiliate. Neither the Company nor any Affiliate shall be liable to the Participant due to the failure or inability of the Company or any Affiliate to provide adequate notice to the Participant.
Minimum Capital Requirements. Make any final Additional Capital Determination or any determination regarding the respective Additional Capital Amounts required to be made by Members in connection therewith; or approve the amount of cash or cash equivalents that should be retained by the Company in order to meet minimum regulatory capital and reserve requirements imposed by any Governmental Entity, whether in connection with retaining the licenses and registrations necessary for the Company to originate Mortgage Loans or otherwise, or by any creditor of the Company or any of its Subsidiaries, including any lender under the Loan Funding Facility (the “Minimum Capital Requirements”);
Minimum Capital Requirements. (a) Minimum capital requirements. (1) A national bank or Federal savings asso- ciation must maintain the following minimum capital ratios:
(i) A common equity tier 1 capital ratio of 4.5 percent.
(ii) A tier 1 capital ratio of 6 percent.
(iii) A total capital ratio of 8 percent.
(iv) A leverage ratio of 4 percent.
(v) For advanced approaches national banks or Federal savings associations or, for Category III OCC-regulated in- stitutions, a supplementary leverage ratio of 3 percent.
(vi) For Federal savings associations, a tangible capital ratio of 1.5 percent.
Minimum Capital Requirements. The Balance Sheets delivered by the Company shall satisfy the Minimum Capital Requirements.
Minimum Capital Requirements. A System institution must maintain the following minimum capital ratios:
(1) A common equity tier 1 (CET1) capital ratio of 4.5 percent.
(2) A tier 1 capital ratio of 6 percent.
(3) A total capital ratio of 8 percent.
(4) A tier 1 leverage ratio of 4 per- cent, of which at least 1.5 percent must be composed of URE and URE equiva- xxxxx.
(5) [Reserved]
(6) A permanent capital ratio of 7 percent.
Minimum Capital Requirements. Borrower shall cause SAMCO to maintain, as of the end of each fiscal month, Regulatory Capital which exceeds the sum of (a) 5% of Debit Balances plus (b) Debt Service.
Minimum Capital Requirements. Subject to Section 6.11, the Company will, at the end of each fiscal quarter commencing after August 31, 2000, maintain a positive Net Cash position in excess of twenty-five million dollars ($25,000,000). "Net Cash" means (x) consolidated current assets (excluding deferred tax assets and the Escrowed Funds), minus (y) consolidated current liabilities (however arising), but excluding any (i) deferred revenue, (ii) other non-cash liabilities, as set forth on Schedule 6.10 attached hereto, which Schedule 6.10 may be amended from time to time by the Company with Purchaser's consent (such consent not to be unreasonably withheld), which the Company reasonably believes are not likely to become cash liabilities on or before the termination of the Financial Covenants as set forth in Section 6.11 of this Agreement, and (iii) Leasing Obligations, each as determined in accordance with GAAP. In addition, the Company agrees to advise the Purchaser of the Company's Net Cash position, calculated as set forth above, on an informational basis at the end of each calendar month, beginning August 31, 2000. On or before the twentieth (20/th/) day following each calendar month, the Company shall deliver to Purchaser a certificate, duly signed by the Chief Financial Officer of the Company, providing the Purchaser with the following information for the preceding calendar month: (i) its Net Cash position and (ii) the Company's consolidated current assets and consolidated current liabilities (and any exclusions therefrom) in a format consistent with the Company's public filings, in each case as of the end of such preceding calendar month.
Minimum Capital Requirements. Regulations of the Department impose on New Jersey chartered depository institutions, including the Bank, minimum capital requirements similar to those imposed by the FDIC on insured state banks. See "-- Federal Banking Regulation -- Capital Requirements" below.
Minimum Capital Requirements. Complete copies of all material reports prepared by SCDA and submitted to OSFI relating to its minimum continuing capital and surplus requirements for each of the periods in the years ended December 31, 2012 and 2013 have been made available to the Purchaser and the calculations therein have been made, in all material respects, in accordance with Applicable Law.
Minimum Capital Requirements. A special purpose reinsurance vehicle with protected cells shall possess and maintain capitalization in each protected cell in the amount and manner required for a special purpose reinsurance vehicle in section 787 and, in addition, shall possess and maintain minimum capitalization separate and apart from the capitalization of its protected cell or cells in an amount determined by the superintendent after giving due consideration of the special purpose reinsurance vehicle's business plan, feasibility study and proforma financial statements, including the nature of the risks to be insured or reinsured. [ 2007, c. 386, §14 (NEW) .]
