Minimum Regulatory Capital Sample Clauses

Minimum Regulatory Capital. Permit the Net Capital of the Borrower at any time to be less than $50,000,000 in excess of the minimum amount of Net Capital required by the Exchange Act.
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Minimum Regulatory Capital. Permit the Net Capital of any Foreign Subsidiary that is a Broker-Dealer Subsidiary and a Material Subsidiary or any Domestic Subsidiary that is a Broker-Dealer Subsidiary at any time to be less than (i) for any Broker-Dealer Subsidiary that has elected not to be subject to the “Aggregate Indebtedness Standard” pursuant to the Exchange Act (i.e., a Broker-Dealer Subsidiary testing net capital requirements on the basis of “aggregate debit items” pursuant to the Exchange Act), the greater of (x) 5.5% of the amount of the “aggregate debit items” of such Broker-Dealer Subsidiary, computed in accordance with the Exchange Act, and (y) 120% of the minimum amount of Net Capital required for such Broker-Dealer Subsidiary by the Exchange Act and (ii) for any other Broker-Dealer Subsidiary, 150% of the minimum amount of Net Capital required for such Broker-Dealer Subsidiary by the Exchange Act or, in the case of a Foreign Subsidiary, any similar or comparable foreign regulation. The Guarantor shall be deemed to be in compliance with this Section 6.1(d) with respect to any Broker-Dealer Subsidiary so long as the then most recent computation of Net Capital for such Broker-Dealer Subsidiary shows such compliance and no Responsible Officer of the Guarantor or such Subsidiary has actual knowledge that the Guarantor is not in compliance with this Section 6.1(d). The Guarantor shall make such computations demonstrating compliance with the net capital requirements applicable to any Broker-Dealer Subsidiary when required by the Exchange Act, the SEC or any other applicable Governmental Authority, but at least weekly in the case of any Broker-Dealer Subsidiary electing not to be subject to the “aggregate indebtedness standard” pursuant to the Exchange Act (i.e., a Broker-Dealer Subsidiary testing net capital requirements on the basis of “aggregate debit items” pursuant to the Exchange Act), and monthly otherwise.
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Minimum Regulatory Capital. Borrower shall at all times have Regulatory Capital of at least $120,000,000 and shall have fifteen (15) days from the date of receipt of any FOCUS Report which indicates that there is a violation of this covenant to cure such violation; provided however no cure period shall exist if any such violation is the direct result of a decrease in total ownership equity (as reflected in Part II, line 30 of the “Statement of Financial Condition Liabilities and Equity” section of any such FOCUS Report); and provided further, that Borrower shall not be required to maintain said minimum Regulatory Capital requirement on any day if and to the extent Borrower’s securities underwriting commitments cause Borrower to have Regulatory Capital of less than said minimum Regulatory Capital requirement on or as of such day, so long as the total number of such days when Regulatory Capital is less than said minimum Regulatory Capital requirement does not exceed twenty (20) cumulative days in any single fiscal year of Borrower.
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Minimum Regulatory Capital. Target Company shall have Minimum Regulatory Capital as of immediately prior to the Closing and Seller shall have delivered to Buyer a certificate, dated the Closing Date and signed by the President or a Vice President of Seller, to such effect.
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Minimum Regulatory Capital. Borrower will not permit its Regulatory Capital as of the date of each monthly FOCUS Report to be less than $175,000,000.
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Minimum Regulatory Capital. Borrower shall at all times have Regulatory Capital of at least $150,000,000 and shall have fifteen (15) days from the date of receipt of any FOCUS Report which indicates that there is a violation of this covenant to cure such violation; provided however no cure period shall exist if any such violation is the direct result of a decrease in total ownership equity (as reflected in Part II, line 30 of any such FOCUS Report); and provided further, that Borrower shall not be required to maintain said minimum Regulatory Capital requirement on any day if and to the extent Borrower’s securities underwriting commitments cause Borrower to have Regulatory Capital of less than said minimum Regulatory Capital requirement on or as of such day, so long as the total number of such days when Regulatory Capital is less than said minimum Regulatory Capital requirement does not exceed twenty (20) cumulative days in any single fiscal year of Borrower.” (e) Exhibit B and Exhibit C to the Agreement are deleted and replaced with Exhibit B and Exhibit C attached hereto and incorporated by reference.
Sample 1
Minimum Regulatory Capital. Borrower shall at all times have Regulatory Capital of at least $180,000,000 and shall have fifteen (15) days from the date of receipt of any FOCUS Report which indicates that there is a violation of this covenant to cure such violation; provided however no cure period shall exist if any such violation is the direct result of a decrease in total ownership equity (as reflected in Part II, line 30 of any such FOCUS Report).
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Related to Minimum Regulatory Capital

  • Child Abuse Reporting Requirement Grantee will: a. comply with child abuse and neglect reporting requirements in Texas Family Code Chapter 261. This section is in addition to and does not supersede any other legal obligation of the Grantee to report child abuse. b. develop, implement and enforce a written policy that includes at a minimum the System Agency’s Child Abuse Screening, Documenting, and Reporting Policy for Grantees/Providers and train all staff on reporting requirements. c. use the System Agency Child Abuse Reporting Form located at xxxxx://xxx.xxxx.xxxxx.xx.xx/Contact Us/report abuse.asp as required by the System Agency. d. retain reporting documentation on site and make it available for inspection by the System Agency.

  • Financial Viability and Regulatory Compliance 2.6.1 Contractor warrants and represents that its corporate entity is in good standing with all applicable federal, state, and local licensing authorities and that it possesses all requisite licenses to perform the services required by this contract. Contractor further warrants and represents that it owes no outstanding delinquent federal, state or local taxes or business assessments. 2.6.2 Contractor agrees to promptly disclose to the MPHA any IRS liens or licensure suspension or revocation that may adversely affect its capacity to perform the services outlined within this contract. The failure by Contractor to disclose such issue to the MPHA in writing within 5 days of such notification received will constitute a material breach of this contract. 2.6.3 Contractor further agrees to promptly disclose to the MPHA any change of more than 50% of its ownership and/or any declaration of bankruptcy that Contractor may undergo during the term(s) of this contract. The failure of Contractor to disclose any change of more than 50% of its ownership and/or its declaration of bankruptcy within 5 days of said actions shall constitute a material breach of this contract. 2.6.4 All disclosures made pursuant to this section of the contract shall be made in writing and submitted to MPHA within the time periods required herein.

  • Year 2000 Compliance Each Party warrants that it has implemented a program the goal of which is to ensure that all software, hardware and related materials (collectively called “Systems”) delivered, connected with BellSouth or supplied in the furtherance of the terms and conditions specified in this Agreement: (i) will record, store, process and display calendar dates falling on or after January 1, 2000, in the same manner, and with the same functionality as such software records, stores, processes and calendar dates falling on or before December 31, 1999; and (ii) shall include without limitation date data century recognition, calculations that accommodate same century and multicentury formulas and date values, and date data interface values that reflect the century.

  • FERPA Compliance In connection with all FERPA Records that Contractor may create, receive or maintain on behalf of University pursuant to the Underlying Agreement, Contractor is designated as a University Official with a legitimate educational interest in and with respect to such FERPA Records, only to the extent to which Contractor (a) is required to create, receive or maintain FERPA Records to carry out the Underlying Agreement, and (b) understands and agrees to all of the following terms and conditions without reservation:

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  • GAAP Compliance Contractor maintains an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles.

  • Child Abuse Reporting Requirements A. Grantees shall comply with child abuse and neglect reporting requirements in Texas Family Code Chapter 261. This section is in addition to and does not supersede any other legal obligation of the Grantee to report child abuse. B. Grantee shall use the Texas Abuse Hotline Website located at xxxxx://xxx.xxxxxxxxxxxxxx.xxx/Login/Default.aspx as required by the System Agency. Grantee shall retain reporting documentation on site and make it available for inspection by the System Agency.

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  • Accounting System Requirement The Contractor shall maintain an adequate system of accounting and internal controls that meets Generally Accepted Accounting Principles or “GAAP.”

  • Federal Medicaid System Security Requirements Compliance Party shall provide a security plan, risk assessment, and security controls review document within three months of the start date of this Agreement (and update it annually thereafter) in order to support audit compliance with 45 CFR 95.621 subpart F, ADP System Security Requirements and Review Process.

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