Common use of Multiparty covered agreements Clause in Contracts

Multiparty covered agreements. (1) A NGEP that is a party to a covered agreement that involves multiple NGEPs is not required to comply with the requirements of this part if— (i) The NGEP has not had a CRA communication; and (ii) No representative of the NGEP identified in paragraph (b)(4) of this section has knowledge at the time of the agreement that another NGEP that is a party to the agreement has had a CRA communication. (2) An insured depository institution or affiliate that is a party to a covered agreement that involves multiple in- sured depository institutions or affili- ates is not required to comply with the disclosure and annual reporting re- quirements in §§ 207.6 and 207.7 if— (i) No NGEP that is a party to the agreement has had a CRA communica- tion concerning the insured depository institution or any affiliate; and (ii) No representative of the insured depository institution or any affiliate identified in paragraph (b)(3) of this section has knowledge at the time of the agreement that an NGEP that is a party to the agreement has had a CRA communication concerning any other insured depository institution or affil- iate that is a party to the agreement. (a) List of factors that are in fulfillment of the CRA. Fulfillment of the CRA, for purposes of this part, means the fol- lowing list of factors— (1) Comments to a Federal banking agency or included in CRA public file. Providing or refraining from providing written or oral comments or testimony to any Federal banking agency con- cerning the performance under the CRA of an insured depository institu- tion or CRA affiliate that is a party to the agreement or an affiliate of a party to the agreement or written comments that are required to be included in the CRA public file of any such insured de- pository institution; or

Multiparty covered agreements. (1) A NGEP that is a party to a covered agreement that involves multiple NGEPs is not required to comply with the requirements of this part if— (i) The NGEP has not had a CRA communication; and (ii) No representative of the NGEP identified in paragraph (b)(4) of this section has knowledge at the time of the agreement that another NGEP that is a party to the agreement has had a CRA communication. (2) An insured depository institution or affiliate that is a party to a covered agreement that involves multiple in- sured depository institutions or affili- ates is not required to comply with the disclosure and annual reporting re- quirements in §§ 207.6 and 207.7 if— (i) No NGEP that is a party to the agreement has had a CRA communica- tion concerning the insured depository institution or any affiliate; and (ii) No representative of the insured depository institution or any affiliate identified in paragraph (b)(3) of this section has knowledge at the time of the agreement that an NGEP that is a party to the agreement has had a CRA communication concerning any other insured depository institution or affil- iate that is a party to the agreement. (a) List of factors that are in fulfillment of the CRA. Fulfillment of the CRA, for purposes of this part, means the fol- lowing list of factors— (1) Comments to a Federal banking agency or included in CRA public file. Providing or refraining from providing written or oral comments or testimony to any Federal banking agency con- cerning the performance under the CRA of an insured depository institu- tion or CRA affiliate that is a party to the agreement or an affiliate of a party to the agreement or written comments that are required to be included in the CRA public file of any such insured de- pository institution; or (2) Activities given favorable CRA con- sideration. Performing any of the fol- lowing activities if the activity is of