Criticized Assets definition

Criticized Assets means, at any particular time, all assets of the Bank classified as “Loss,” “Doubtful,” “Substandard,” or “other Assets Especially Mentioned,” or in any equivalent category by the Bank or any governmental or regulatory authority.
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Criticized Assets shall have the meaning ascribed thereto in Section 4.20(b) hereof.
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Criticized Assets means Association assets that are, and subsequent to the Effective Date will have been, classified as “substandard,” “doubtful,” “loss,” or “special mention,” either by the Association (pursuant to 12 CFR § 560.160(a)(1)) or by OTS (pursuant to 12 CFR § 560.160(a)(2) and other applicable laws and regulations).2
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Examples of Criticized Assets in a sentence

  • As of December 31, 2006, the Company and its Subsidiaries, taken as a whole, did not have outstanding Loans and assets classified as “Other Real Estate Owned” with an aggregate then outstanding, fully committed principal amount in excess of that amount set forth on Section 5.16(a) of the Company Disclosure Schedule, net of specific reserves with respect to such Loans and assets, that were designated as of such date by the Company as the Company Criticized Assets.

  • Section 3.16(a) of the MBNA Disclosure Schedule sets forth (A) a summary of Criticized Assets as of March 31, 2005, by category of Loan (e.g., commercial, consumer, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of MBNA or any of its Subsidiaries that, as of March 31, 2005, is classified as “Other Real Estate Owned” and the book value thereof.

  • Section 3.26(a)(iii) of the Discover Disclosure Schedule sets forth (A) a summary of Criticized Assets as of September 30, 2023, by category of Loan (e.g., student, personal, home, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of Discover or any of its Subsidiaries that, as of September 30, 2023, is classified as “Other Real Estate Owned” and the book value thereof.

  • There is also a Criticized Assets Committee (CAC) which is responsible for the assessment and continued review of the Company’s premium debt and direct appropriate actions in respect of delinquent ones.

  • The Criticized Assets Committee is responsible for the review and coverage of the Bank’s total risk assets portfolio for quality.

  • The standing Management Committees in the Bank are: • Management Risk Committee;• Management Credit Committee;• Criticized Assets Committee;• Assets and Liability Management Committee;• Information Technology (IT) Steering Committee;• Information Technology (IT) Risk Management CommitteeManagement Risk Committee This Committee is responsible for regular analysis and consideration of risks in the Bank.

  • Section 3.16(a) of the GBC Disclosure Schedule sets forth (A) a summary of Criticized Assets as of March 31, 2006, by category of Loan (e.g., commercial, consumer, etc.), together with the aggregate principal amount of such Loans by category and the amount of specific reserves with respect to each such category of Loans and (B) each asset of GBC or any of its Subsidiaries that, as of March 31, 2006, is classified as “Other Real Estate Owned” and the book value thereof.

  • Company Schedule 4.26(a)(iii) sets forth: (A) a summary of Criticized Assets as of the date hereof, by category of Loan (e.g., commercial and consumer), together with the aggregate principal amount of such Loans by category; and (B) each asset of Bank that, as of the date hereof, is so classified.

  • The standing Management Committees in the Bank are: • Management Risk Committee;• Management Credit Committee;• Criticized Assets Committee;• Asset and Liability Management Committee;• Information Technology (IT) Steering Committee;• Information Technology (IT) Risk Management CommitteeManagement Risk Committee This Committee is responsible for regular analysis and consideration of risks in the Bank.

  • Some of these Executive Management Committees include the Assets and Liabilities Committee (ALCO), the Executive Credit Committee (ECC), the IT Risk Committee (ITRC), the Risk Management Committee (RMC), the Costs Optimization Committee (COC), the Criticized Assets Committee (CAC), and the Executive Management Committee (EMC).


More Definitions of Criticized Assets

Criticized Assets shall have the meaning assigned such term in Section 5.8(b) hereof.
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Criticized Assets shall include all classified assets, assets designated special mention, all nonperforming assets and all delinquent loans. Supervisory Agreement Severn Savings Bank, FSB 9. The Board’s review of the Quarterly Asset Reports, and any corrective actions adopted by the Board, shall be fully documented in the appropriate Board meeting minutes. A copy of the Quarterly Asset Report and the Board meeting minutes detailing the Board’s review shall be provided to the Regional Director within ten (10) days after the Board meeting.
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Criticized Assets has the meaning set forth in Section 4.32(a).
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Criticized Assets has the meaning assigned to it in Section 3.02(r).
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Criticized Assets means assets that currently are, and/or subsequent to the Effective Date have been: (i) Classified Assets as defined above: plus (ii) classified as "special mention," either by the Association (pursuant to 12 C.F.R. § 560.160(a)(l))orbythe OTS (pursuant to 12 C.F R. § 560 160(a)(2)). Special Mention Assets are reported at line VA960 to TFR Schedule VA.
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Criticized Assets shall include all classified assets, assets designated special mention, all nonperforming assets and all delinquent loans, that are ninety (90) or more days delinquent. (f) an assessment of the Association’s compliance with the Problem Asset Plan; and (g) a discussion of the actions taken during the preceding quarter to reduce the Association’s level of criticized assets and delinquent loans. 9. The Board’s review of the Quarterly Asset Reports, and any corrective actions adopted by the Board, shall be fully documented in the Board meeting minutes. A copy of the Quarterly Asset Report and the Board meeting minutes detailing the Board’s review shall be provided to the Regional Director within thirty (30) days after the Board meeting.
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Related to Criticized Assets

  • Criticized , "Watch list" or words of similar import, together with the principal amount of and accrued and unpaid interest on each such Loan and the identity of the obligor thereunder, (4) where a reasonable doubt exists as to the timely future collectibility of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (5) where the interest rate terms have been reduced and/or the maturity dates have been extended subsequent to the agreement under which the loan was originally created due to concerns regarding the borrower's ability to pay in accordance with such initial terms, or (6) where a specific reserve allocation exists in connection therewith, and (G) all assets classified by Innes Street or Citizens Bank as real estate acquired through foreclosure or in lieu of foreclosure, including in-substance foreclosures, and all other assets currently held that were acquired through foreclosure or in lieu of foreclosure.

  • Invested Assets means cash, Cash Equivalents, short term investments, investments held for sale and any other assets which are treated as investments under GAAP.

  • Information Assets means any information, including Confidential Information, necessary to the operation of either party that is created, stored, transmitted, processed or managed on any hardware, software, network components, or any printed form or is communicated orally. “Information Assets” does not include information that has been transferred from the Disclosing Party to the Receiving Party under applicable laws, regulations and agency guidance, and that is being maintained and used by the Receiving Party solely for purposes that are not Contractor Exchange Functions.

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Established business relationship means a relationship between a seller and a consumer based on:

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Significant Assets means one or more assets or businesses which, when purchased, optioned or otherwise acquired by the CPC, together with any other concurrent transactions, would result in the CPC meeting the initial listing requirements of the Exchange.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Company Financial Information As defined in Section 2(a)(ii).

  • Subject Business means the policy or policies that are

  • Portfolio Information means confidential and proprietary information of the Fund, the Adviser or the Sub-Adviser that is received by a party hereto in connection with this Agreement, and information with regard to the portfolio holdings, investment activity and characteristics of the Fund.

  • Highly restricted personal information means an individual’s photograph or image, social security number, digitized signature, and medical and disability information.

  • Admitted assets means the amount thereof as of the last day of the most recently concluded annual statement year, computed in accordance with rule 191—5.6(505,515,520).

  • Valuable papers and records means inscribed, printed or written:

  • Disparage means making comments or statements to the press, the Company's or its subsidiaries' or affiliates' employees or any individual or entity with whom the Company or its subsidiaries or affiliates has a business relationship which would adversely affect in any manner (1) the business of the Company or its subsidiaries or affiliates (including any products or business plans or prospects), or (2) the business reputation of the Company or its subsidiaries or affiliates, or any of their products, or their past or present officers, directors or employees.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Company Properties shall have the meaning set forth in Section 4.15.1.

  • Parent Assets means all Assets of either Party or the members of its Group as of the Effective Time, other than the SpinCo Assets, it being understood that, notwithstanding anything herein to the contrary, the Parent Assets shall include:

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Receivables and Related Assets means (a) accounts receivable, instruments, chattel paper, obligations, general intangibles, equipment and other similar assets, including interests in merchandise or goods, the sale or Lease of which gives rise to the foregoing, related contractual rights, guarantees, insurance proceeds, collections and other related assets, (b) equipment, (c) inventory and (d) proceeds of all of the foregoing.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Pool Information means the mortgage pool information reflected in the Master Tapes and the Prospectus Supplement. “Master Tapes” shall mean the respective compilations of information and data regarding the Mortgage Loans covered by the Independent Accountants’ Reports on Applying Agreed-Upon Procedures dated the date of the Preliminary FWP and the date hereof, respectively, rendered by a third party accounting firm described in Section 6(h)(ii) of this Agreement.

  • Student Personal Information means information collected through a school service that personally identifies an individual student or other information collected and maintained about an individual student that is linked to information that identifies an individual student, as identified by Washington Compact Provision 28A.604.010. For purposes of this DPA, Student Personal Information is referred to as Student Data.

  • Distinguishable from background means that the detectable concentration of a radionuclide is statistically different from the background concentration of that radionuclide in the vicinity of the site or, in the case of structures, in similar materials using adequate measurement technology, survey, and statistical techniques.

  • Average Invested Assets means, for a specified period, the average of the aggregate book value of the assets of the Company invested, directly or indirectly, in Properties, Loans and other Permitted Investments secured by real estate before reserves for depreciation or bad debts or other similar non-cash reserves, computed by taking the average of such values at the end of each month during such period.