Non-Performing Asset Ratio. Section 5.4 of the Agreement is hereby amended and restated such that Borrower shall not permit any Banking Subsidiary’s Non-Performing Asset Ratio as of the last day of any calendar quarter to exceed: (i) 3.50% as of September 30, 2010 and December 31, 2010; (ii) 3.25% as of March 31, 2011; and (iii) 3.00% at all times thereafter.
Non-Performing Asset Ratio. The Non-Performing Asset Ratio of the Bank as of each Covenant Compliance Date shall not exceed Three and one-quarter percent (3.25%) of the Bank’s total assets as of December 31, 2009; Three percent (3.00%) of the Bank’s total assets as of March 31, 2010 and June 30, 2010; Two and three-quarter percent (2.75%) of the Bank’s total assets as of September 30, 2010 and December 31, 2010; Two and one-half percent (2.50%) of the Bank’s total assets as of March 31, 2011 and each calendar quarter thereafter.
Non-Performing Asset Ratio. Section 5.14 of the Agreement is hereby amended such that Borrower shall not permit the Non-Performing Asset Ratio of Bank or any other Banking Subsidiary to exceed 4.50% as of the last day of any calendar quarter, beginning December 31, 2010, and continuing at all times thereafter. For the purposes of this provision, and notwithstanding anything to the contrary, the term “Non-Performing Asset Ratio” shall mean the ratio, expressed as a percentage, of (i) Bank’s or any other Banking Subsidiary’s Non-Performing Assets to (ii) the sum of (a) Bank’s or any other Banking Subsidiary’s Total Loans, plus (b) Bank’s or any other Banking Subsidiary’s real estate owned (OREO) through foreclosure or deed-in-lieu of foreclosure, all determined by applicable regulatory accounting principles consistently applied.
Non-Performing Asset Ratio. Section 5.4 of the Agreement is hereby amended such that Borrower shall not permit the Non-Performing Asset Ratio of Bank or any other Banking Subsidiary to exceed 3.50% as of the last day of any calendar quarter rather than 2.50%. For the purposes of this provision and notwithstanding anything to the contrary, the term “Non-Performing Asset Ratio” shall mean the ratio, expressed as a percentage, of (i) Bank’s or any other Banking Subsidiary’s Non-Performing Assets to (ii) the sum of (a) Bank’s or any other Banking Subsidiary’s Total Loans, plus (b) Bank’s or any other Banking Subsidiary’s real estate owned (OREO) through foreclosure or deed-in-lieu of foreclosure, all determined by applicable regulatory accounting principles consistently applied.
Non-Performing Asset Ratio. Section 5.14 of the Loan Agreement is hereby amended such that, commencing September 30, 2011 and at all times thereafter, Borrower shall not permit the Non-Performing Asset Ratio of Bank or any other Banking Subsidiary as of the last day of any calendar quarter to exceed 4.00%. For the purposes of this provision and notwithstanding anything to the contrary, the term “Non-Performing Asset Ratio” shall mean the ratio, expressed as a percentage, of (i) the difference between (a) Bank’s or any other Banking Subsidiary’s Non-Performing Assets less (b) all non-accrual auction rate securities held by Bank or any other Banking Subsidiary to (ii) the sum of (a) Bank’s or any other Banking Subsidiary’s Total Loans, plus (b) Bank’s or any other Banking Subsidiary’s real estate owned (OREO) through foreclosure or deed-in-lieu of foreclosure, all determined by applicable regulatory accounting principles consistently applied.
Non-Performing Asset Ratio. Borrower shall cause Subsidiary Bank to maintain at all times the ratio of (a) Nonperforming Assets to (b) the sum of total stockholders’ equity and allowance for loan losses at less than 20.0%. The ratio set forth in this Section 7.5 shall be calculated quarterly beginning with the quarter ended March 31, 2008, shall be derived from the quarterly report filed with Borrower’s primary federal regulator and shall be consistent with the financial information and reports contemplated in Section 5 of this Agreement. For purposes of this Agreement, “Nonperforming Assets” means the sum of all other real estate owned by and repossessed assets, non-accrual loans, restructured loans and loans on which any payment is 90 or more days past due but which continue to accrue interest of Subsidiary Bank.
Non-Performing Asset Ratio. Permit any Banking Subsidiary’s Non-Performing Asset Ratio to exceed 2.50% as of the last day of any calendar quarter.
Non-Performing Asset Ratio. Section 5.14 of the Loan Agreement is hereby amended such that Borrower shall not permit the Non-Performing Asset Ratio of Bank or any other Banking Subsidiary as of the last day of any calendar quarter to exceed: (i) 3.50% as of September 30, 2010 and December 31, 2010; (ii) 3.25% as of March 31, 2011; and (iii) 3.00% at all times thereafter. For the purposes of this provision and notwithstanding anything to the contrary, the term “Non-Performing Asset Ratio” shall mean the ratio, expressed as a percentage, of (i) Bank’s or any other Banking Subsidiary’s Non-Performing Assets to (ii) the sum of (a) Bank’s or any other Banking Subsidiary’s Total Loans, plus (b) Bank’s or any other Banking Subsidiary’s real estate owned (OREO) through foreclosure or deed-in-lieu of foreclosure, all determined by applicable regulatory accounting principles consistently applied.
Non-Performing Asset Ratio. Borrower (on a consolidated basis) shall maintain at all times the ratio of (a) Nonperforming Assets to (b) the sum of total stockholders’ equity and allowance for loan losses at less than 25%. The ratio set forth in this Section 7.4 shall be calculated quarterly beginning with the quarter ended September 30, 2005, shall be derived from the quarterly report filed with Borrower’s primary federal regulator and shall be consistent with the financial information and reports contemplated in Section 5 hereof. For purposes of this Agreement, “Nonperforming Assets” shall mean, on an aggregate basis for all Subsidiary Banks, the sum of all other real estate owned and repossessed assets, non-accrual loans, restructured loans and loans on which any payment is 90 or more days past due but which continue to accrue interest.
Non-Performing Asset Ratio. Borrower shall not permit the Non-Performing Asset Ratio of Bank or any other Banking Subsidiary to exceed 2.50% as of the last day of any calendar quarter.
