Common use of Involuntary Termination of Lender Clause in Contracts

Involuntary Termination of Lender. The Corporation, upon the recommendation of the Administrator, may terminate this Agreement with respect to any Lender upon the happening of any one or more of the following events: (a) Any representation or warranty of the Lender to the Corporation or the Administrator shall be false in any material respect; (b) Failure of the Lender to comply in all respects with its obligations under this Agreement; or (c) Issuance or entry of a decree or order of a court, agency, or supervisory authority having jurisdiction in the premises appointing a conservator, receiver, or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities, or similar proceeding affecting the Lender or substantially all of its properties, or for the winding-up or liquidation of its affairs, if such decree or order shall have remained in force undischarged or unstayed for a period of sixty (60) days.

Involuntary Termination of Lender. The CorporationAuthority, upon the recommendation of the Administrator, may terminate this Agreement with respect to any Lender upon the happening of any one or more of the following events: (a) Any representation or warranty of the Lender to the Corporation Authority or the Administrator shall be false in any material respect; (b) Failure of the Lender to comply in all respects with its obligations under this Agreement; or (c) Issuance or entry of a decree or order of a court, agency, or supervisory authority having jurisdiction in the premises appointing a conservator, receiver, or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities, or similar proceeding affecting the Lender or substantially all of its properties, or for the winding-up or liquidation of its affairs, if such decree or order shall have remained in force undischarged or unstayed for a period of sixty (60) days.