Common use of Action Plan Clause in Contracts

Action Plan. (1) Within thirty (30) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's assessment of what needs to be done to address the regulatory recommendations outlined in the Report of Examination (XXX) and the requirements of this Agreement to improve the Bank, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. (2) Upon completion of the plan, the Board shall submit the plan to the Assistant Deputy Comptroller for review. The Board shall establish appropriate procedures for the implementation of the plan. (3) In the event the Assistant Deputy Comptroller recommends changes to the action plan, the Board shall promptly incorporate those changes into the plan. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless events dictate modifications to the plan. Where the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.

Action Plan. (1) Within thirty (30) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's assessment of what needs to be done to address the regulatory recommendations outlined in the Report of Examination (XXX) and the requirements of this Agreement to improve the Bank, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan and identifying accountable person(s). The Board shall establish appropriate procedures for the implementation of the plan. (2) Upon completion of the plan, the Board Bank shall submit the plan to the Assistant Deputy Comptroller for review. The Board shall establish appropriate procedures for the implementation review and determination of the planno supervisory objection. (3) In the event the Assistant Deputy Comptroller recommends changes to the action plan, the Board shall promptly immediately incorporate those changes into the plan. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless events dictate modifications to the plan. Where the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.

Action Plan. (1) Within thirty forty five (3045) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's ’s assessment of what needs to be done to address the regulatory recommendations outlined in the Report of Examination (XXX) and the requirements of this Agreement to improve the Bank, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. (2) Upon completion of the plan, the Board shall submit the plan to the Assistant Deputy Comptroller for reviewreview and prior written determination of no supervisory objection. The Board Upon receiving a determination of no supervisory objection, the Bank shall establish appropriate procedures for the implementation of implement and adhere to the plan. (3) In the event the Assistant Deputy Comptroller recommends changes to the action plan, the Board shall promptly immediately incorporate those changes into the plan. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless events dictate modifications to the plan. Where the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior written determination of no supervisory objection. (5) The Board shall ensure that . Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank has processes, personnel, shall implement and control systems to ensure implementation of and adherence adhere to the plan developed pursuant to this Articleplan.

Action Plan. (1) Within thirty sixty (3060) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's assessment of what needs to be done to address the regulatory recommendations outlined in the Report of Examination (XXX) and the requirements of this Agreement to improve the Bank, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. At a minimum the plan should address the four Matters Requiring Attention issues contained in the XXX. (2) Upon completion of the plan, the Board Bank shall submit the plan to the Assistant Deputy Comptroller for review. The Board shall establish appropriate procedures for the implementation and monitoring of the plan. (3) In the event the Assistant Deputy Comptroller recommends changes to the action plan, the Board shall promptly immediately incorporate those changes into the plan. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless events dictate modifications to the plan. Where the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.

Action Plan. (1) Within thirty (30) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's assessment of what needs to be done to address the regulatory recommendations outlined in the Report of Examination (XXXRXX) and the requirements of this Agreement to improve the Bank, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. (2) Upon completion of the plan, the Board shall submit the plan to the Assistant Deputy Comptroller for review. The Board shall establish appropriate procedures for the implementation of the plan. (3) In the event the Assistant Deputy Comptroller recommends changes to the action plan, the Board shall promptly incorporate those changes into the plan. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless events dictate modifications to the plan. Where the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.

Action Plan. (1) Within thirty sixty (3060) daysdays of the date of this Agreement, the Board shall adopt, implement, and thereafter ensure Bank adherence to to, a written action plan detailing that details the Board's assessment of what needs actions required to be done to address correct the regulatory recommendations outlined Bank’s deficiencies noted in the February 12, 2009 Report of Examination (“2009 XXX) ”), and the requirements March 22, 2010 Report of this Agreement to improve the Bank, specifying Examination (“2010 XXX”) specifies how the Board will implement the plan, and setting sets forth a timetable for the implementation of the plan. (2) Upon the Board’s completion of the plan, the Board shall submit the plan to the Assistant Deputy Comptroller for review. The Board shall establish appropriate procedures for the implementation of the plan. (3) In the event the Assistant Deputy Comptroller or his representative recommends changes to the action planplan in writing, the Board shall promptly immediately incorporate those changes into the plan. “In writing” shall include electronic communications to the Board and management. (4) The plan shall be implemented pursuant to the time frames set forth within the plan unless unforeseen events dictate modifications to the plan. Where When the Board considers modifications appropriate, those modifications shall be submitted to the Assistant Deputy Comptroller for prior approval. Upon receiving a determination of no supervisory objectionobjection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the modified plan. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.