Minimum Net Capital definition

Minimum Net Capital means, as of the Closing, an amount equal to the greatest of (a) 120% of OCMI’s required minimum net capital, (b) 10% of the OCMI’s aggregate indebtedness, with each of (a) and (b) calculated in accordance with Rule 15c3-1 under the 1934 Act based on the amount of excess net capital and deductions reported in OCMI’s then most recently filed Form X-17A-5, and (c) the minimum amount of net capital required by FINRA to be held by OCMI as of the Closing (calculated without regard to any capital required to fund any activities of OCMI after the Closing other than the continuation of the activities it conducted with respect to its business prior to the Closing Date), plus, in each case, $25,000;
Sample 1Sample 2Sample 3
Minimum Net Capital means the minimum amount of Capital required by (a) FINRA and (b) any of SMH’s or HWG’s clearing firms or regulatory authorities, to operate such company individually as contemplated post-Closing. To the extent that the Capital required by clause (b) is inclusive of Capital required by clause (a), such Capital shall not be double counted. For the avoidance of doubt, in the event that FINRA requires $250,000 of Capital and the clearing firms of SMH require $500,000 of Capital (including the Capital required by FINRA), Minimum Net Capital shall only include $500,000 of Capital.
Sample 1
Minimum Net Capital means, as to any Person, the minimum amount of net capital required to be maintained in respect of such Person pursuant to applicable laws, rules and regulations, including, without limitation, those of the SEC and the NASD concerning requirements of net capital, as such term is defined in Rule 15c3-1.
Sample 1

Examples of Minimum Net Capital in a sentence

  • Securities Corp shall have, as of the Closing Date, sufficient net capital to meet its then current Minimum Net Capital Requirement.

  • Each Broker shall have, as of the Closing Date, sufficient net capital to meet its then current Minimum Net Capital Requirement.

  • The Company and each of its applicable Subsidiaries is in compliance with all applicable regulatory net capital requirements, including the Minimum Net Capital Requirements applicable to each Subsidiary of the Company that is a Broker-Dealer, except where the failure to be in compliance would not, individually or in the aggregate, reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole.

  • At or prior to the Closing, the Group B Sellers shall, or shall cause their Affiliates to, if necessary, cause the U.S. Companies to contribute to Xxxxxxx XX an amount such that, as of the Closing, Xxxxxxx BD’s net capital is greater than or equal to the Minimum Net Capital Amount.

  • In the Calculation of Minimum Net Capital Requirement in the Computation of Minimum Regulatory Capital Requirements section of the FOCUS Report Part II, firms have noted that Rule 15c3–1 286 instructs a broker-dealer that is also a futures commission merchant (‘‘FCM’’) to report the greater of the broker-dealer ratio requirement or ‘‘4 percent of the funds required to be segregated’’ pursuant to the CFTC rules.287 However, the form does not include a line for firms to report the 4% of segregated funds.

  • Sr. No.Regulatory AuthoritySubject Matter/AllegationsBrief of Orders/FindingsPresent Status1Financial Industry Regulatory Authority (FINRA) United StatesThe Firm registered as a broker dealer, for a period of time, missed to meet the regulatory minimum net capital requirement, due to an inadvertent miss - classificationof receivables in books of accounts.Settled the matter with payment of USD 15,000 to FINRA.Complied and Minimum Net Capital Requirement is thereafter properly maintained.

  • The Borrower, if applicable, will, and will cause each of its Regulated Affiliates to, maintain net capital in an amount that is at least equal to 150% of Minimum Net Capital in respect of such Person.

  • The right to purchase the additional 100,000 shares of the Stock may be exercised anytime between the date of the approval of the Plan by the Company's shareholders through the last day of the month immediately preceding the tenth anniversary of the date of the approval of the Plan by the Company's shareholders.

  • OCC Rules 301 (Initial Requirements) and 302 (Minimum Net Capital).

  • Regulatory AuthoritySubject Matter/AllegationsBrief of Orders/FindingsPresent StatusFinancial Industry Regulatory Authority (FINRA) United StatesThe Firm registered as a broker dealer, for a period of time, missed to meet the regulatory minimum net capital requirement, due to an inadvertent miss- classification of receivables in books of accounts.Settled the matter with payment of USD 15,000 to FINRA.Complied and Minimum Net Capital Requirement is thereafter properly maintained.

Related to Minimum Net Capital

  • Minimum capital or "minimum required capital" means the capital that must be constantly maintained by a stock insurance corporation as required by statute.

  • Net Capital Net Capital shall mean "net capital" as defined in Rule 15c3-1.

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Minimum Funding Amount means, on any date of determination, the amount set forth in the table below: The date that is six months following the Effective Date December 20, 2018 60% of the Financing Commitment December 21, 2018 March 20, 2019 65% of the Financing Commitment March 21, 2019 Day prior to the last day of the Ramp-Up Period 75% of the Financing Commitment The last day of the Ramp-Up Period The last day of the Reinvestment Period 85% of the Financing Commitment

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Minimum Number means 3% of the number of outstanding shares of common stock of the Corporation as of the most recent date for which such amount is given in any filing by the Corporation with the Securities and Exchange Commission prior to the submission of the Nomination Notice.

  • Total Capital means an amount equal to any capital, plus any surplus, undivided profits, and instruments of indebtedness authorized under section 310.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Minimum Amount means the Minimum Amount as specified in § 1 of the Product and Underlying Data.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Target Net Working Capital Amount means $5,000,000.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Target Net Working Capital means $0.

  • Net Capital Expenditures means for any period the amount by which Capital Expenditures during such period exceeds reimbursements for such items during such period from any fund established pursuant to the Loan Documents.

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Invested Capital means the amount calculated by multiplying the total number of Shares purchased by Stockholders by the issue price at the time of such purchase, reduced by the portion of any Distribution that is attributable to Net Sales Proceeds and by any amounts paid by the Company to repurchase Shares pursuant to the Company’s plan for the repurchase of Shares.

  • Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the Shares (including the Company's distribution reinvestment plan), less (ii) distributions to investors that represent a return of capital and amounts paid for share repurchases pursuant to the Company's share repurchase program. For purposes of computing the Incentive Fee, the calculation methodology will look through derivatives or swaps as if the Company owned the reference assets directly. Therefore, net interest, if any, associated with a derivative or swap (which represents the difference between (i) the interest income and fees received in respect of the reference assets of the derivative or swap and (ii) the interest expense paid by the Company to the derivative or swap counterparty) will be included in the calculation of quarterly pre-incentive fee net investment income for purposes of the Incentive Fee. The calculation of the Incentive Fee for each quarter is as follows: · No Incentive Fee shall be payable to the Advisor in any calendar quarter in which the Company's pre-incentive fee net investment income does not exceed the preferred return rate of 1.50% (6.0% annualized) (the "Preferred Return") on Adjusted Capital. · 100% of the Company's pre-incentive fee net investment income, if any, that exceeds the Preferred Return, but is less than or equal to 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor. This portion of the Company's pre-incentive fee net investment income is referred to as the "catch-up." The "catch-up" provision is intended to provide the Advisor with an incentive fee of 12.5% on all of the Company's pre-incentive fee net investment income in any calendar quarter when the Company's pre-incentive fee net investment income reaches 1.715% in such calendar quarter (6.86% annualized). · 12.5% of the amount of the Company's pre-incentive fee net investment income, if any, that exceeds 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor once the Preferred Return is reached and the catch-up has been achieved (12.5% of the Company's pre-incentive fee net investment income thereafter shall be allocated to the Advisor).