Common use of Agreements relating to activities of CRA affiliates Clause in Contracts

Agreements relating to activities of CRA affiliates. An insured depository institution or affiliate that is a party to a covered agreement that concerns any activity described in paragraph (a) of this section of a CRA affiliate must, prior to the time the agreement is en- tered into, notify each NGEP that is a party to the agreement that the agree- ment concerns a CRA affiliate. The following rules must be applied in determining whether an agreement is a covered agreement under § 346.2. aworley on LAPBH6H6L3 with DISTILLER (a) Agreements entered into by same parties. All written agreements to which an insured depository institu- tion or an affiliate of the insured de- pository institution is a party shall be considered to be a single agreement if the agreements— (1) Are entered into with the same NGEP; (2) Were entered into within the same 12-month period; and (3) Are each in fulfillment of the CRA. (b) Substantively related contracts. All written contracts to which an insured depository institution or an affiliate of the insured depository institution is a party shall be considered to be a single agreement, without regard to whether the other parties to the contracts are the same or whether each such con- tract is in fulfillment of the CRA, if the contracts were negotiated in a co- ordinated fashion and a NGEP is a party to each contract.