Noncompliance by Sponsor Sample Clauses

Noncompliance by Sponsor. The Member shall recover from the Sponsor and repay to the FHLB-NY that portion of the Subsidy, plus interest as may be required by the FHLB-NY consistent with the FHLB- NY’s AHP Policies and Practices, that as a result of the Sponsor’s actions or omissions, is not used in compliance with the terms of the Application or the requirements of the AHP Regulation, unless such noncompliance is cured by the Sponsor within a reasonable period of time, as determined by the FHLB-NY, or the circumstances of such noncompliance are eliminated through an approved modification of the Application in accordance with the applicable provisions of the AHP Regulation and section 12, above. For purposes of this section 16(a)(ii), where the obligation to repay the Subsidy arises solely as a result of the Sponsor’s actions or omissions, the Member shall not be obligated to the FHLB-NY for the return of the amount of the Subsidy that cannot be recovered from the Sponsor through reasonable collection efforts by the Member. The Member agrees to report in writing to the FHLB-NY the reasonable collection efforts taken by the Member. The FHLB-NY, the Member, and the Sponsor hereby agree that foreclosure upon the AHP subordinate mortgage agreement (to be executed between the Member and the Sponsor) is deemed to be a “reasonable” collection effort, notwithstanding any inability by the Member to successfully recoup the entire AHP Subsidy from a foreclosure judgment.
Sample 1
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Noncompliance by Sponsor. The Sponsor shall repay to the FHLBank that portion of the Rehabilitation Assistance, plus interest as conclusively determined by the FHLBank consistent with this Agreement that, as a result of the Sponsor’s actions or omissions, is not used in compliance with the terms of this Agreement or the requirements of the AHP Regulation, unless such noncompliance is cured by the Sponsor within a reasonable period of time, as determined by the FHLBank, or the circumstances of such noncompliance are eliminated through an approved modification of the application for such Rehabilitation Assistance. The Member agrees to make reasonable collection efforts to recover such repayment obligations from the Sponsor, if necessary. For purposes of this subparagraph, however, where the obligation to repay the Rehabilitation Assistance arises solely as a result of the Sponsor’s actions or omissions, the Member shall not be obligated to the FHLBank for the return of the amount of the Rehabilitation Assistance that cannot be recovered from the Sponsor through reasonable collection efforts made by the Member. The Member agrees to report in writing to the FHLBank the reasonable collection efforts made by the Member.
Sample 1

Related to Noncompliance by Sponsor

  • HIPAA Compliance If this Contract involves services, activities or products subject to the Health Insurance Portability and Accountability Act of 1996 (HIPAA), the Contractor covenants that it will appropriately safeguard Protected Health Information (defined in 45 CFR 160.103), and agrees that it is subject to, and shall comply with, the provisions of 45 CFR 164 Subpart E regarding use and disclosure of Protected Health Information.

  • Noncompliance Except as otherwise provided for in Sections 10.1, 10.3 and 10.5(b), (a) failure or neglect of any Borrower or any Guarantor or any Person to perform, keep or observe any term, provision, condition, covenant herein contained, or contained in any Other Document or any other agreement or arrangement, now or hereafter entered into between any Borrower or any Guarantor or such Person, and Agent or any Lender, or (b) failure or neglect of any Borrower to perform, keep or observe any term, provision, condition or covenant, contained in Sections 4.6, 4.7, 4.9, 6.1, 6.3, 6.4, 9.4 or 9.6 hereof which is not cured within twenty (20) days from the occurrence of such failure or neglect;

  • DBE/HUB Compliance The Engineer’s subcontracting program shall comply with the requirements of Attachment H of the contract (DBE/HUB Requirements).

  • Non-Compliance 11.1 The provisions of 31 CFR Part 205.29 and 31 CFR Part 205.30 shall apply in cases of non-compliance with the terms of this Agreement.

  • Performance by Affiliates Each Party may discharge any obligations and exercise any right hereunder through any of its Affiliates. Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and shall cause its Affiliates to comply with the provisions of this Agreement in connection with such performance. Any breach by a Party’s Affiliate of any of such Party’s obligations under this Agreement shall be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such Party’s Affiliate.

  • Covenant Compliance the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.1 through Section 10.9, inclusive, during the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); and

  • HSR Compliance The applicable waiting period under the HSR Act shall have expired or been terminated.

  • FCPA Compliance The Company has not and, to the best of the Company’s knowledge, none of its employees or agents at any time during the last five years have (i) made any unlawful contribution to any candidate for foreign office, or failed to disclose fully any contribution in violation of law, or (ii) made any payment to any federal or state governmental officer or official, or other person charged with similar public or quasi-public duties, other than payments required or permitted by the laws of the United States or any jurisdiction thereof.

  • CEQA Compliance The District has complied with all assessment requirements imposed upon it by the California Environmental Quality Act (Public Resource Code Section 21000 et seq. (“CEQA”) in connection with the Project, and no further environmental review of the Project is necessary pursuant to CEQA before the construction of the Project may commence.

  • Reporting Compliance The Company is subject to, and is in compliance in all material respects with, the reporting requirements of Section 13 and Section 15(d), as applicable, of the Exchange Act.

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