Capital Deficiency means, for any Interest Payment Date, that ICICI Bank determines that its capital to risk assets ratio (“CRAR”) has declined below the minimum regulatory requirement prescribed by the RBI from time to time, (i) as at the immediately preceding March 31 in the case of the Interest Payment Date in April and (ii) as at the immediately preceding September 30 in the case of the Interest Payment Date in October.

Capital Deficiency has the meaning set forth in Section 2.1(a). “Company” has the meaning set forth in the preamble.

Examples of Capital Deficiency in a sentence

An End of Capital Deficiency Event shall be deemed to occur pursuant to paragraph (a) above on the date on which the Issuer publishes its annual or half-year results indicating that the total risk-based consolidated capital ratio has been restored to the relevant level, or on any such other date on which the Issuer determines that such ratio has been so restored.
Such notice shall be given as soon as practicable following the occurrence of a Capital Deficiency Event and of any End of Capital Deficiency Event.
As appropriate, the Issuer will make a new determination and deliver other notice(s) with respect to any subsequent Interest Payment Date in relation to which a Capital Deficiency Event is continuing or occurs again.
Interest Payable on Optional Interest Payment Dates after End of Capital Deficiency Event At the option of the Issuer, any Broken Interest, to the extent not reduced to absorb losses in accordance with Condition 5.1, may be paid on the first Optional Interest Payment Date falling on or after the date of the End of Capital Deficiency Event.
In the event that during any Interest Period, on or at any time prior to the fifth Business Day prior to an Optional Interest Payment Date, a Capital Deficiency Event has occurred or would occur upon payment of the interest due on the next Optional Interest Payment Date: (x) the accrual of interest, if any, in respect of the Notes shall automatically be suspended.

More Definitions of Capital Deficiency

Capital Deficiency is defined in Section 5.6 hereof.

Capital Deficiency means the failure by an institution to meet all the capital requirements prescribed by the Act and these Regulations;

Capital Deficiency means the failure by an institution to meet and maintain at all times the minimum capital requirements

Capital Deficiency means, as of any date of determination, the amount, if any, by which the Investment (or, if a Termination Event exists, the Matured Aggregate Investment) plus the Aggregate Reserve (each as defined in the Receivables Sale Agreement) exceeds the Net Receivables Balance plus the Undistributed Collections (each as defined in the Receivables Sale Agreement).

Capital Deficiency means, with respect to any time of determination, the amount, if any, by which aggregate Capital Investment at such time plus all accrued and unpaid Yield and Fees at such time shall exceed the product of (x) the then Advance Rate and (y) the Net Receivables Pool Balance at such time.

Capital Deficiency has the meaning set forth in Section 2.1(a).

Capital Deficiency is defined in Section 1.5(a).