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:
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:
Minimum Capital Requirements. Notwithstanding any provision of this Agreement to the contrary, during the first three years following the date that Grand River Bank (“Bank”) opens for business, 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 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 Vested Shares 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. 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) .]
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. 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. Dealer agrees that the Acura Dealership Operations shall meet American Honda's minimum capital requirements at all times. The minimum capital requirements shall be determined by American Honda from time to time and, as of the date hereof, shall be the amounts specified below: o American Honda's current minimum working capital requirement is $228,242 for the Acura dealership at the Dealership Premises. The Acura dealership entity will be capitalized with not less than $270,482 in effective net worth.
