Net Capital. The Borrower will not permit the Broker Subsidiary to allow (a) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (b) any month-end Net Capital Ratio to be less than 5%. The Borrower similarly will not permit SCM to allow (i) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (ii) any month-end Net Capital Ratio to be less than 5%.
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Sources: Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp), Credit Agreement (Schwab Charles Corp)
Net Capital. The Borrower will not permit the Broker Subsidiary to allow (ai) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (bii) any month-end Net Capital Ratio to be less than 5%. The Borrower similarly will not permit SCM MSI to allow (i) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (ii) any month-end Net Capital Ratio to be less than 5%.
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