Common use of Action by Supervisory Authority Clause in Contracts

Action by Supervisory Authority. If the Bank is closed or taken over by any banking supervisory authority, such banking authority may immediately terminate this Agreement without liability or obligation to the Executive.

Action by Supervisory Authority. If the Bank is closed or taken over by any banking the Comptroller of the Currency or other supervisory authority, including the Federal Deposit Insurance Corporation, or if such banking supervisory authority should exercise its enforcement powers to remove Executive from office or suggest such removal, the Bank may immediately terminate this Agreement without further liability or obligation to the Executive.

Action by Supervisory Authority. If the Bank bank is closed or taken over by any banking supervisory authority, such banking authority may immediately terminate this Agreement without liability or obligation to the Executive.

Action by Supervisory Authority. If the Bank is closed or taken over by any banking the Department of Financial Institutions or other supervisory authority, including the Federal Deposit Insurance Corporation, such banking supervisory authority may immediately terminate this Agreement without further liability or obligation to the ExecutiveExecutive by Employer.

Action by Supervisory Authority. If the Bank is closed or taken over by any banking ------------------------------- the Department of Financial Institutions or other supervisory authority, including the Federal Reserve Board, such banking supervisory authority may immediately terminate this Agreement without further liability or obligation to Executive by the ExecutiveBank.