Common use of Capital Plan Amendment Clause in Contracts

Capital Plan Amendment. The amendments to the Capital Plan of each FHLBank that has issued stock pursuant to a Capital Plan as of the Effective Date shall become effective only if approved by the FHFA for each such FHLBank, and, if such approval is granted, such amendments shall become effective simultaneously on the Interim Capital Plan Amendment Implementation Date. The amendments to the Capital Plan for any FHLBank that has not issued stock pursuant to a Capital Plan as of the Effective Date shall become effective on the Final Capital Plan Amendment Implementation Date. Each FHLBank’s Capital Plan amendments shall contain: (i) the substantive provisions of Sections II and III of this Agreement; and (ii) a self-executing provision, that upon the occurrence of an Automatic Termination Event, shall terminate (a) each FHLBank’s obligations to make further allocations to its Restricted Retained Earnings account, and (b) the restrictions upon the use of all amounts then held in such Restricted Retained Earnings account, without any further action by the board of directors of any FHLBank or by the FHFA.

Capital Plan Amendment. The amendments to the Capital Plan of each FHLBank that has issued stock pursuant to a Capital Plan as of the Effective Date shall become effective only if approved by the FHFA for each such FHLBank, and, if such approval is granted, such amendments shall become effective simultaneously on the Interim Capital Plan Amendment Implementation Date. The amendments to the Capital Plan for any FHLBank that has not issued stock pursuant to a Capital Plan as of the Effective Date shall become effective on the Final Capital Plan Amendment Implementation Date. Each FHLBank’s 's Capital Plan amendments shall contain: (i) the substantive provisions of Sections II and III of this Agreement; and (ii) a self-executing provision, that upon the occurrence of an Automatic Termination Event, shall terminate (a) each FHLBank’s 's obligations to make further allocations to its Restricted Retained Earnings account, and (b) the restrictions upon the use of all amounts then held in such Restricted Retained Earnings account, without any further action by the board of directors of any FHLBank or by the FHFA.