Common use of Additional Regulatory Requirements Clause in Contracts

Additional Regulatory Requirements. Notwithstanding anything contained in this Agreement to the contrary, it is understood and agreed that Employer (or any of its successors in interest) shall not be required to make any payment or take any action under this Agreement if, in the opinion of counsel to Employer such payment or action: (a) would be prohibited by or would violate any provision of state or federal law applicable to Employer, including without limitation the Federal Deposit Insurance Act, as now in effect or hereafter amended, (b) would be prohibited by or would violate any applicable rules, regulations, orders or statements of policy, whether now existing or hereafter promulgated, of any Regulatory Authority, or (c) otherwise would be prohibited by any Regulatory Authority.

Additional Regulatory Requirements. Notwithstanding anything contained in this Agreement to the contrary, it is understood and agreed that Employer the Bank (or any of its successors in interest) shall not be required to make any payment or take any action under this Agreement if, in the opinion of counsel to Employer the Bank such payment or action: action (a) would be prohibited by or would violate any provision of state or federal law applicable to Employerthe Bank, including without limitation the Federal Deposit Insurance Act, as now in effect or hereafter amended, (b) would be prohibited by or would violate any applicable rules, regulations, orders or statements of policy, whether now existing or hereafter promulgated, of any Regulatory Authority, or (c) otherwise would be prohibited by any Regulatory Authority.

Additional Regulatory Requirements. Notwithstanding anything contained in this Agreement to the contrary, it is understood and agreed that Employer the Bank (or any of its successors in interest) shall not be required to make any payment or take any action under this Agreement if, in the opinion of counsel to Employer the Bank such payment or action: action (ai) would be prohibited by or would violate any provision of state or federal law applicable to Employerthe Bank, including without limitation the Federal Deposit Insurance Act, as now in effect or hereafter amended, (bii) would be prohibited by or would violate any applicable rules, regulations, orders or statements of policy, whether now existing or hereafter promulgated, of any Regulatory Authority, or (ciii) otherwise would be prohibited by any Regulatory Authority.

Additional Regulatory Requirements. Notwithstanding anything contained in this Agreement to the contrary, it is understood and agreed that the Employer (or any of its successors in interest) shall not be required to make any payment or take any action under this Agreement if: (a) the Employer is declared by any Regulatory Authority to be insolvent, in default or operating in an unsafe or unsound manner; or (b) in the opinion of counsel to Employer the Employer, such payment or action: action (ai) would be prohibited by or would violate any provision of state or federal law applicable to the Employer, including including, without limitation limitation, the Federal Deposit Insurance Act, Act as now in effect or hereafter amended, (bii) would be prohibited by or would violate any applicable rules, regulations, orders or statements of policy, whether now existing or hereafter promulgated, of any Regulatory Authority, or (ciii) otherwise would be prohibited by any Regulatory Authority.