Secondary capital definition

Secondary capital. ’ means ‘‘secondary capital’’ as defined in the Banks Act;

Secondary capital means the amount by which the assets of a state trust company exceed restricted capital, required by Section 182.008, and liabilities.

Secondary capital means a prescribed percentage of capital obtained through the issue, with prior written approval of the Registrar and in accordance with conditions approved by the Registrar in writing and on such further conditions, if any, as may be prescribed, of –

Examples of Secondary capital in a sentence

• The Investor hereby agrees that it shall not pledge or provide the Secondary Capital Account as security on a loan or other obligation with the Credit Union or any other party.

• Such funds held in the Secondary Capital Account shall be available to cover operating losses only to the extent that accrued but unpaid interest on the Senior Subordinated Securities is unavailable to cover such losses.

• The Investor and the Credit Union hereby agree that funds deposited in the Secondary Capital Account shall be available to cover operating losses realized by the Credit Union that exceed its net available reserves (exclusive of secondary capital accounts and allowance accounts for loan and lease losses).

• The Investor and the Credit Union hereby agree that the funds received by the Credit Union in connection with the Purchase shall be deposited into an account (the “Secondary Capital Account”) and that the Secondary Capital Account, together with the Senior Subordinated Securities, shall constitute a “secondary capital account” for purposes of the NCUA Regulations.

• To the extent funds held in the Secondary Capital Account are used to cover losses, the Credit Union shall not restore or replenish the Secondary Capital Account.

More Definitions of Secondary capital

Secondary capital means a secondary capital account or other form of non-share account, including without limitation a debt instrument, subject to the following conditions:

Secondary capital. ’ means ‘‘secondary capital’’ as defined in the Banks Act; ‘‘Senior Creditors’’ means:

Secondary capital means a secondary capital account or other form of

Secondary capital. ’ means ‘‘secondary capital’’ as defined in paragraph (c) of the definition of ‘‘secondary capital’’ in section 1 of the Banks Act;

Secondary capital means MCSD or equivalent accounts (except for MCSD accounts owned by other corporate central cred- it unions unless the MCSD account is held by a corporate central credit union whose members are primarily other corporate central credit unions and other organizations recognized under Section 501(c)(6) of the Internal Revenue Code), allowance for loan and lease losses up to a maximum of 1.25 percent of risk-weighted assets, and term subordinated debt weighted by remaining maturity as indi- cated:

Secondary capital means the amount by which the assets of a state trust company exceed restricted capital, required by Section 3.007 of this Act, and liabilities.

Secondary capital means the aggregate of the following: