Total Common Equity of any Person means, as of any day of determination (and as modified for purposes of the definition of "Change of Control"), the product of (i) the aggregate number of outstanding primary shares of Common Stock of such Person on such day (which shall not include any options or warrants on, or securities convertible or exchangeable into, shares of Common Stock of such Person) and (ii) the average Closing Price of such Common Stock over the 20 consecutive Trading Days immediately preceding such day. If no such Closing Price exists with respect to shares of any such class, the value of such shares for purposes of clause (ii) of the preceding sentence shall be determined by the Board of Directors in good faith and evidenced by a Board Resolution.
Total Common Equity of any Person means, as of any date of determination the product of (i) the aggregate number of outstanding primary shares of Common Stock of such Person on such day (which shall not include any options or warrants on, or securities convertible or exchangeable into, shares of Common Stock of such Person) and (ii) the average Closing Price of such Common Stock over the 20 consecutive Trading Days immediately preceding such day. If no such Closing Price exists with respect to shares of any such class, the value of such shares for purposes of clause (ii) of the preceding sentence shall be determined by the Board of Directors of the Company in good faith and evidenced by a resolution of the Board of Directors filed with the Trustee.
Examples of Total Common Equity in a sentence
The term “Business Unit ROE” means the Net Income of a business unit or subsidiary managed by a Covered Executive Officer, less dividends on preferred stock held by an unaffiliated third party, divided by the business unit’s or subsidiary’s Average Total Common Equity.
Total Common Equity Tier 1 (CET1) capital on a transitional basis divided by total risk weighted assets (RWAs).
The term “Return on Tangible Equity” shall mean the Net Income available to common stockholders of the Corporation plus the after tax effects of amortization or other adjustments to intangible assets acquired in business combinations, divided by the Corporation’s Average Total Common Equity adjusted to reduce common equity by the average amount of intangible assets for the Performance Period.
The term “Business Unit Return on Tangible Equity” means the Net Income of a business unit or subsidiary managed by a Covered Executive Officer, plus the after tax effects of amortization or other adjustments to intangible assets acquired in business combinations, divided by the business unit’s or subsidiary’s Average Total Common Equity adjusted to reduce common equity by the average amount of intangible assets for the Performance Period.
With asymmetric firms, it becomes less clear how σ a is determined.
More Definitions of Total Common Equity
Total Common Equity of any Person means, as of any day of determination, the product of (i) the aggregate number of outstanding common shares of such Person on such day (which will not include any options or warrants on, or securities convertible or exchangeable into, common shares of such Person) and (ii) the VWAP of such common shares over the 20 consecutive Trading Days immediately preceding such day.
Total Common Equity of the Company means, as of any day of determination, the product of (i) the aggregate number of shares of fully diluted common stock of the Company on such day and (ii) the average closing price of such common stock over the 20 consecutive trading days immediately preceding such day. If no such closing price exists with respect to shares of any such class, the value of such shares for purposes of clause (ii) of the preceding sentence shall be determined by the Board in good faith and evidenced by a resolution of such Board.
Total Common Equity of any Person means, as of any date of determination, the product of: (i) the aggregate number of outstanding primary shares of Common Stock of such Person on such day (which shall not include any options or warrants on, or securities convertible or exchangeable into, shares of Common Stock of such Person); and (ii) the average Closing Price of such Common Stock over the 20 consecutive Trading Days immediately preceding such day. If no such Closing Price exists with respect to shares of any such class, the value of such shares for purposes of clause (ii) of the preceding sentence shall be determined by the Board of Directors of the Company in good faith and evidenced by a resolution of the Board of Directors filed with the Trustee.
Total Common Equity of any Person means, as of any day of determination (and as modified for purposes of the definition of “Change of Control”), the product of (1) the aggregate number of outstanding primary shares of Common Stock of such Person on such day (which shall not include any options or warrants on, or securities convertible or exchangeable into, shares of Common Stock of such Person) and (2) the average Closing Price of such Common Stock over the 20 consecutive Trading Days immediately preceding such day. If no such Closing Price exists with respect to shares of any such class, the value of such shares for purposes of clause (2) of the preceding sentence shall be determined by the Board of Directors in good faith and evidenced by a Board Resolution.
Total Common Equity of any person means, as of any day of determination (and as modified for purposes of the definition of "Change of Control"), the product of (1) the aggregate number of outstanding primary shares of Common Stock of such person on that day
Total Common Equity of any Person means, as of any date of determination, the product of (i) the aggregate number of outstanding primary shares of Common Stock of such Person on such day (which shall not include any options or warrants on, or securities convertible or exchangeable into, shares of Common Stock of such Person) and (ii) the average Closing Price of such Common Stock over the 20 consecutive Trading Days immediately preceding such day. If no such Closing Price exists with respect to shares of any such class, the value of such shares for purposes of clause (ii) of the preceding sentence shall be determined by the board of directors of Borrower in good faith and evidenced by a resolution of the board of directors.
Total Common Equity means the sum of (i) Adjusted Assets, minus (ii) the sum of (A) Adjusted Liabilities plus (B) Preferred Shares at Liquidation Preference. EXHIBIT C TEI NAV COMPLIANCE CERTIFICATE With respect to each of the Swap Agreements, MLCS and MLPFS are furnished, within 45 days after the end of each of the first three calendar quarters, and within 90 days after the end of the last calendar quarter, a compliance certificate (the “Compliance Certificate”) duly and properly executed by, as applicable, MME, TEI or MMA Financial (i) certifying that as of the date thereof and at all times since the date of the previous Compliance Certificate of MME, TEI or MMA Financial, as applicable, TEI has and continues to have NAV of not less than the amount specified in Section 26 of this Agreement and (ii) setting forth the calculation of TEI’s book net worth as determined in accordance with generally accepted accounting principles on the certification date (herein referred to as “NAV”) as of the end of such period and certifying as to the accuracy and completeness of such calculation.