Common use of Tier 2 Capital Clause in Contracts

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the Noteholders, and thereafter the Company and the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.

Appears in 3 contracts

Samples: Subordinated Note Purchase Agreement (Uwharrie Capital Corp), Subordinated Note Purchase Agreement (Uwharrie Capital Corp), Subordinated Note Purchase Agreement (Old Point Financial Corp)

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Tier 2 Capital. If all or any portion of the Subordinated Notes Note ceases to be deemed to be qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NotesNote, the Company will immediately notify the NoteholdersPurchaser, and thereafter the thereafter, Company and the Noteholders Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible Note to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 5.3.6 shall limit the Company’s right to redeem the Subordinated Notes Note upon the occurrence of a Tier 2 Capital Event (as described defined in the Subordinated NotesNote) pursuant to Section 4(a) or Section 4(b) of the Subordinated Note.

Appears in 3 contracts

Samples: Subordinated Note Purchase Agreement (FVCBankcorp, Inc.), Form of Subordinated Note Purchase Agreement (F&m Bank Corp), Form of Subordinated Note Purchase Agreement (Blue Ridge Bankshares, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes Note ceases to be deemed to be qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NotesNote, the Company will immediately notify the NoteholdersPurchaser, and thereafter the thereafter, Company and the Noteholders Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible Note to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 6.13 shall limit the Company’s right to redeem the Subordinated Notes Note upon the occurrence of a Tier 2 Capital Event as described in pursuant to Section 4(a) or Section 4(b) of the Subordinated NotesNote.

Appears in 3 contracts

Samples: Subordinated Note Purchase Agreement (FVCBankcorp, Inc.), Form of Subordinated Note Purchase Agreement (F&m Bank Corp), Form of Subordinated Note Purchase Agreement (Blue Ridge Bankshares, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.

Appears in 2 contracts

Samples: Subordinated Note Purchase Agreement (Northeast Bancorp /Me/), Subordinated Note Purchase Agreement (Wellesley Bancorp, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event Event, as described in the Indenture and the Subordinated Notes.

Appears in 2 contracts

Samples: Form of Subordinated Note Purchase Agreement (Malvern Bancorp, Inc.), Form of Subordinated Note Purchase Agreement (Bryn Mawr Bank Corp)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be qualify as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately promptly notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital, if requested by Company; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon if the occurrence of a Subordinated Notes cease to qualify as Tier 2 Capital Event as described in the Subordinated Notes.

Appears in 2 contracts

Samples: Subordinated Note Purchase Agreement (BankGuam Holding Co), Subordinated Note Purchase Agreement (Sb Financial Group, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be qualify as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersHolders thereof, and thereafter the Company and the Noteholders Holders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital, if requested by Company; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.. 5.4

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Citizens Community Bancorp Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersTrustee and the Holders, and thereafter Company shall request, subject to the Company terms hereof, that the Trustee and the Noteholders will work together in good faith to Holders execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 9.08 shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notespursuant to Section 10.01(3) hereof.

Appears in 1 contract

Samples: ISABELLA BANK Corp

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases cease to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersTrustee and the Holders, and thereafter the Company shall request, subject to the terms hereof, that the Trustee and the Noteholders will work together in good faith to Holders execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 9.08 shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notespursuant to Section 10.01(3) hereof.

Appears in 1 contract

Samples: Pathward Financial, Inc.

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; Capital provided, however, that nothing contained in this Agreement Section 6.13 shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described Event, in accordance with the provisions of the Subordinated NotesNote.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (FVCBankcorp, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately promptly notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary and acceptable in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event Event, as described in the Subordinated Notes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Farmers & Merchants Bancorp Inc)

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Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated Notes, the Company will immediately may promptly notify the Noteholders, Noteholders and thereafter the Company and the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 7(h) shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notespursuant to Section 4(a) or Section 4(b).

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Sterling Bancorp, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersPurchasers, and thereafter the Company and the Noteholders Purchasers will work together in good faith for thirty (30) days to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Northeast Bancorp /Me/)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated Notes, the Company will immediately notify the Noteholders, Noteholders and thereafter the Company and the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary and acceptable in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 7(h) shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notespursuant to Section 4(a) or Section 4(b).

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Farmers & Merchants Bancorp Inc)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersHolder (as defined in the Indenture), and thereafter the Company and the Noteholders Holder will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Atlantic Capital Bancshares, Inc.)

Tier 2 Capital. If all or any portion of the Subordinated Notes Note ceases to be deemed to be qualify for inclusion as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated NotesNote, the Company will immediately notify the NoteholdersPurchaser, and thereafter the thereafter, Company and the Noteholders Purchaser will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible Note to qualify as Tier 2 Capital; provided, however, provided that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes Note upon the occurrence of a Tier 2 Capital Event as described in the Subordinated NotesNote.

Appears in 1 contract

Samples: Form of Subordinated Note Purchase Agreement (California BanCorp)

Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Stated Maturity Date of the Subordinated Notes, the Company will immediately notify the NoteholdersNoteholders and thereafter, and thereafter if requested by the Company, the Company and the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement Section 8(g) shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notespursuant to Section 4(a) or Section 4(b).

Appears in 1 contract

Samples: Paying Agency and Registrar Agreement (Bay Banks of Virginia Inc)

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