Company’s Default. If Company is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under the Agreement will terminate as of the date of default, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of the Company by the Company’s then federal or state regulator.
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Samples: Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp)
Company’s Default. If Company is in default (as defined in Section section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under the this Agreement will shall terminate as of the date of default, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of the Company by the Company’s then federal or state regulator.by:
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