Savings and Loan Holding Company Clause Samples

Savings and Loan Holding Company. Failure to pay Deferred Interest. If any Interest Deferral Period has occurred, the failure by the Company to pay any related Deferred Interest and any interest thereon, on or before the first day immediately following the last day of such Interest Deferral Period.]
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Savings and Loan Holding Company. 3▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇
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Savings and Loan Holding Company. So long as no other Event of Default has occurred and is continuing, the Company shall have the right, from time to time and without causing an Event of Default, to defer payments of interest on the CDCI Senior Subordinated Securities by extending the Interest Period on the CDCI Senior Subordinated Securities at any time and from time to time during the term of the CDCI Senior Subordinated Securities, for up to 20 consecutive quarterly periods (each such extended Interest Period, together with all previous and further consecutive extensions thereof, is referred to herein as an “Interest Deferral Period”). No Interest Deferral Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date, as the case may be. During any Interest Deferral Period, interest will continue to accrue on the CDCI Senior Subordinated Securities, and interest on such accrued interest (such accrued interest and interest thereon referred to herein as “Deferred Interest”) will accrue at an annual rate equal to the Interest Rate applicable during such Interest Deferral Period, compounded on each Interest Payment Date during such Interest Deferral Period, to the extent permitted by applicable law. No interest or Deferred Interest shall be due and payable during a Interest Deferral Period, except at the end thereof. At the end of any Interest Deferral Period, the Company shall pay all Deferred Interest then accrued and unpaid on the CDCI Senior Subordinated Securities; provided, however, that during any Interest Deferral Period, the Company shall be subject to the restrictions set forth in Section 4.2(b). Prior to the termination of any Interest Deferral Period, the Company may further extend such Interest Deferral Period, provided that no Interest Deferral Period (including all previous and further consecutive extensions that are part of such Interest Deferral Period) shall exceed 20 consecutive quarterly periods. Upon the termination of any Interest Deferral Period and upon the payment of all Deferred Interest, the Company may commence a new Interest Deferral Period for up to 20 consecutive quarterly periods as if no prior Interest Deferral Period had occurred, subject to the foregoing requirements. The Company must give the Holders notice of its election to begin or extend a Interest Deferral Period at least one business day prior to the Regular Record Date applicable to the next succeeding Interest Payment Date.]
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Savings and Loan Holding Company. Borrower is a duly and validly registered savings and loan holding company pursuant to Section 10 of the Home Owners Loan Act of 1933 (the “HOLA”), as amended.
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Savings and Loan Holding Company. The Company and the Investor intend that the transactions contemplated by this Agreement will not subject Investor to regulation as a savings and loan holding company under the Home Owners’ Loan Act and the regulations of the Office of Thrift Supervision (the “OTS”) thereunder (collectively, and as they may be amended from time to time, the “Act”). The Company and Investor shall reasonably cooperate with each other for the purpose of carrying out this intent consistent with the requirements of the Act, including the submission by Investor to the OTS of any filing necessary to rebut any presumption of control that may apply to Investor and its affiliates under the Act. Without limiting the foregoing, while Investor is the Beneficial Owner of more than 25% of the Preferred Stock, the Company shall notify Investor if at any time it believes Investor and its affiliates collectively constitute one of the two largest holders of Common Stock and Investor shall, upon reasonable request from the Company, notify the Company of the number of shares of Common Stock Beneficially Owned by Investor.
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Savings and Loan Holding Company. The Company is duly registered as a savings and loan holding company under the Home Owners’ Loan Act of 1933, as amended.
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Related to Savings and Loan Holding Company

  • Bank Holding Company Borrower is not a “bank holding company” or a direct or indirect subsidiary of a “bank holding company” as defined in the Bank Holding Company Act of 1956, as amended, and Regulation Y thereunder of the Board of Governors of the Federal Reserve System.

  • Savings and Loan The Buyer (a) is a savings and loan association, building and loan association, cooperative bank, homestead association or similar institution, which is supervised and examined by a State or Federal authority having supervision over any such institutions or is a foreign savings and loan association or equivalent institution and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements.

  • Holding Companies (a) In the case of Holdings, (i) conduct, transact or otherwise engage in any business or operations other than those incidental to its ownership of the Equity Interests of the Borrower and the performance of the Loan Documents, the Second Lien Loan Documents, any Specified Refinancing Debt or any Specified Second Lien Refinancing Debt, (ii) incur any Indebtedness (other than (x) the First Lien Obligations and the Second Lien Obligations, (y) intercompany Indebtedness incurred in lieu of Restricted Payments permitted under Section 7.06 and Indebtedness of the type described in Sections ‎7.03(i) through ‎(m) (other than Section 7.03(k)(B)), ‎7.03(o) and ‎7.03(p) and (z) Guarantees of Indebtedness permitted by Section 7.03(n), ‎7.03(s), (t), ‎(u) or (v)), (iii) create, incur, assume or suffer to exist any Lien on any Equity Interests of the Borrower (other than Liens pursuant to any Loan Document or any Second Lien Loan Document, Permitted Other Indebtedness Liens, Specified Refinancing Liens, Specified Second Lien Refinancing Liens or non-consensual Liens arising solely by operation of law); or (iv) make any Investments (other than (x) Investments in the Borrower or its Restricted Subsidiaries (including any temporary Investments to facilitate Permitted Acquisitions and other Investments permitted by Section ‎7.02) or (y) Investments of the type permitted by Section ‎7.02(a), ‎(b), ‎(h), ‎(k) or ‎(m). (b) Nothing in this Section ‎7.15 shall prevent Holdings from (i) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (ii) the performance of its obligations with respect to the Transactions, (iii) any public offering of its common stock or any other issuance or sale of its Equity Interests (other than Disqualified Equity Interests), (iv) making Restricted Payments or Dispositions (other than Dispositions of the Equity Interests of the Borrower), (v) participating in tax, accounting and other administrative matters as a member of the consolidated group of Holdings and the Borrower, (vi) holding any cash and Cash Equivalents (but not operating any property), (vii) providing indemnification to officers, managers and directors, (viii) any activities incidental to compliance with the provisions of the Securities Act of 1933, as amended and the Exchange Act of 1934, as amended, any rules and regulations promulgated thereunder, and the rules of national securities exchanges, in each case, as applicable to companies with listed equity or debt securities, as well as activities incidental to investor relations, shareholder meetings and reports to shareholders or debtholders and (ix) any activities incidental to the foregoing.

  • Bank Holding Company Act Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.