Conditional Exchange Event

Conditional Exchange Event. Will occur when: (i) PNC Bank becomes "undercapitalized" under the OCC's "prompt corrective action" regulations pursuant to 12 C.F.R. Part 6 (and including any successor rules or regulations); (ii) PNC Bank is placed into conservatorship or receivership; or (iii) the OCC, in its sole discretion, anticipates PNC Bank becoming undercapitalized in the near term or takes a supervisory action that limits the payment of dividends by PNC Bank and in connection therewith directs a Conditional... Exchange. View More