Common use of Regulatory Capital Clause in Contracts

Regulatory Capital. In each case as reflected in the Closing Financial Statements, (i) Southwest Bank shall be “well capitalized” as defined under applicable Law, (ii) Southwest Bank’s Tier 1 leverage ratio shall be no less than 11.75%, (iii) Southwest Bank’s Tier 1 risked-based capital ratio shall be no less than 12.5%, (iv) Southwest Bank’s total risked-based capital ratio shall be no less than 14.0%, (v) Southwest Bank’s tangible shareholders’ equity to tangible assets ratio shall be no less than 11.75%, and (vi) Southwest Bank’s shall not have received any notification from the OSBD or FDIC to the effect that the capital of Southwest Bank is insufficient to permit Southwest Bank to engage in all aspects of its business and its currently proposed businesses without material restrictions, including the imposition of a Burdensome Condition; provided, that the conditions contained in clauses (ii – v) in this Section 8.2(g) shall be waived by Simmons if the failure to satisfy such conditions is due solely to the growth of Southwest Bank’s Assets, as determined by Simmons in its sole discretion.

Appears in 4 contracts

Samples: Agreement and Plan of Merger (Simmons First National Corp), Merger Agreement (Southwest Bancorp Inc), Merger Agreement (Simmons First National Corp)

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Regulatory Capital. In each case as reflected in the Closing Financial Statements, (i) Southwest Bank shall be “well capitalized” as defined under applicable Law, (ii) Southwest Bank’s Tier 1 leverage ratio shall be no less than 11.759.6468%, (iii) Southwest Bank’s Tier 1 risked-based capital ratio shall be no less than 12.59.6559%, (iv) Southwest Bank’s total risked-based capital ratio shall be no less than 14.011.7110%, (v) Southwest Bank’s tangible shareholders’ equity to tangible assets ratio shall be no less than 11.758.7936%, and (vi) Southwest Bank’s Bank shall not have received any notification from the OSBD TDB or FDIC Federal Reserve to the effect that the capital of Southwest Bank is insufficient to permit Southwest Bank to engage in all aspects of its business and its currently proposed businesses without material restrictions, including the imposition of a Burdensome Condition, as determined by Simmons in its sole discretion; provided, however, that the conditions contained in clauses (ii – vSections 8.2(g)(ii) in this Section 8.2(g- 8.2(g)(v) shall be waived by Simmons if the failure to satisfy such conditions is due solely to the growth of Southwest Bank’s Assets, as determined by Simmons in its sole discretion.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Simmons First National Corp), Merger Agreement (Simmons First National Corp)

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