Common use of Additional Regulatory Requirements Clause in Contracts

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall may, in its discretion, (i) pay the Officer all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Institutions Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall may, in its discretion, (i) pay the Officer all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) ss. 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) ss. 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's ’s affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's ’s obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall may, in its discretion, (i) pay the Officer all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's ’s affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) § 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "“Corporation"”), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) § 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department Commissioner of Commerce Banks (the "Administrator"“Commissioner”), at the time the Administrator Commissioner approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator Commissioner to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall may, in its discretion, (i) pay the Officer all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Director of the Office of Thrift Supervision ("Director") or the Director's designee, at the time the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation ) enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of Director, or the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator")Director's designee, at the time the Administrator Director or such designee approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. (e) Any payments made to the Officer pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. (S) 1828(k) and any regulations promulgated thereunder. (f) If any of the provisions of this Agreement conflict with the requirements of 12 C.F.R. (S) 563.39, the latter shall control.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1g)(l)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(18(g)(l) of the Federal Deposit Insurance lnsurance Act (12 U.S.C. 1818(e)(412U.S.C.1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. affected (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 12U.S.C. ss. 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) ss. 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this 6 Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "CorporationFDIC"), at the time the Corporation FDIC enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Institutions Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1S)1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "CorporationFDIC"), at the time the Corporation FDIC enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Institutions Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department Commissioner of Commerce Banks ("the "AdministratorCommissioner"), at the time the Administrator Commissioner approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator Commissioner to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(412U.S.C.1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 12U.S.C. * 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) ss. 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

Additional Regulatory Requirements. (a) If the Officer is suspended and/or temporarily prohibited from participating in the conduct of the Savings Bank's affairs by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1g)(l)), the Savings Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Savings Bank shall (i) pay the Officer all of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Officer is removed and/or permanently prohibited from participating in the conduct of the Savings Bank's affairs by an order issued under Section 8(e)(4) of Section 8(g)(18(g)(l) of the Federal Deposit Insurance lnsurance Act (12 U.S.C. 1818(e)(412U.S.C.1818(e)(4) and (g)(1)), all obligations of the Savings Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. (c) If the Savings Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S) 12U.S.C. ss. 1818(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of the Agreement is necessary for the continued operation of the Savings Bank, (i) by the Federal Deposit Insurance Corporation (the "Corporation"), at the time the Corporation enters into an agreement to provide assistance to or on behalf of the Savings Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act (12 U.S.C. (S) ss. 1818(c)); or (ii) by the Administrator of the Savings Institution Division of the North Carolina Department of Commerce (the "Administrator"), at the time the Administrator approves a supervisory merger to resolve problems related to operation of the Savings Bank or when the Savings Bank is determined by the Administrator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.