Common use of NEW SENIOR EXECUTIVE OFFICER Clause in Contracts

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety (90) days, the Board shall appoint a new, capable Senior Loan Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Loan Officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and (c) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over the employment of the proposed Senior Loan Officer. However, the failure to exercise such veto power shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller to complete his review and act on any such information or authority within ninety (90) days.

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety sixty (9060) days, the Board shall appoint a newpermanent, full-time, and capable Senior Loan Officer President who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Loan Officer President position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and (c) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over to disapprove the employment appointment of the proposed Senior Loan Officernew senior executive officer. However, the failure to exercise lack of disapproval of such veto power individual shall not constitute an approval or endorsement of the proposed officerdirector. (4) The requirement to submit information and the prior veto disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his the review and act on any such information or authority within ninety (90) days.

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety (90) 180 days, the Board shall appoint a new, capable Senior Loan Officer senior lending officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Loan Officer senior lending officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet and “Background Investigations” booklets of the Comptroller’s Corporate Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officerLicensing Manual and 12 C.F.R. § 5.51(e)(2); and (cb) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over to disapprove the employment appointment of the proposed Senior Loan Officersenior lending officer. However, the failure to exercise lack of disapproval of such veto power individual shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his review and act on any such information or authority within ninety (90) days.

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety one hundred and twenty (90120) days, the Board shall appoint a new, capable Senior Loan Chief Credit Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Loan Chief Credit Officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet and “Background Investigations” booklets of the Comptroller’s Corporate Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's ’s reasons for selecting the proposed officer; and (c) a written description of the proposed officer's ’s duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over to disapprove the employment appointment of the proposed Senior Loan Officernew senior executive officer. However, the failure to exercise lack of disapproval of such veto power individual shall not constitute an approval or endorsement of the proposed senior executive officer. (4) The requirement to submit information and the prior veto disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his his/her review and act on any such information or authority within ninety (90) days.

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety (9060) days, the Board shall appoint a new, capable Senior Loan Chief Credit Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Loan Officer that position, the Board shall submit to the Assistant Deputy Comptroller ADC the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet and “Background Investigations” booklets of the Comptroller’s Corporate Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and, (c) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller ADC shall have the power of veto over to disapprove the employment appointment of the proposed Senior Loan Officernew officer. However, the failure to exercise lack of disapproval of such veto power individual shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b1818(b)(6) and do not require the Comptroller to complete his review and act on any such information or authority within ninety (90) days.

NEW SENIOR EXECUTIVE OFFICER. (1) Within ninety one hundred and twenty (90120) days, days the Board shall appoint a new, new and capable Senior Loan Officer credit senior executive officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bankposition. (2) Prior to the appointment of any individual to the Senior Loan Officer credit senior executive officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet and “Background Investigations” booklets of the Comptroller’s Corporate Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed officer; and (c) a written description of the proposed officer's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over to disapprove the employment appointment of the proposed Senior Loan Officernew credit senior executive officer. However, the failure to exercise lack of disapproval of such veto power individual shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his his/her review and act on any such information or authority within ninety (90) days.