MINIMUM FINANCIAL REQUIREMENTS. The Determination Date Financial Statements shall reflect that Seller has (i) stockholders' equity in an amount equal to or greater than $11,700,000 (exclusive of any accrual for payment of Option Settlement Amounts and the financial advisory fee paid or due to ABN AMRO, Inc.); (ii) loans receivable in an amount equal to or greater than $65,000,000 and (iii) savings accounts in an amount equal to or greater than $55,000,000. 7. Paragraph (b) of Section 7.1 of the Merger Agreement is hereby amended to read in its entirety as follows:
Appears in 1 contract
Sources: Agreement and Plan of Merger (Northwest Equity Corp)
MINIMUM FINANCIAL REQUIREMENTS. The Determination Date Financial Statements shall reflect that Seller has (i) stockholders' equity in an amount equal to or greater than $11,700,000 (exclusive of any accrual for payment of Option Settlement Amounts and the financial advisory fee paid or due to ABN AMRO, Inc.); (ii) loans receivable in an amount equal to or greater than $65,000,000 70,000,000 and (iii) savings accounts in an amount equal to or greater than $55,000,000.
7. Paragraph (b) of Section 7.1 of the Merger Agreement is hereby amended to read in its entirety as follows:
Appears in 1 contract