Common use of Other Regulatory Requirements Clause in Contracts

Other Regulatory Requirements. 3.6.1. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, all obligations of Employer under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employer and Employee shall not be affected. If Employer is in default, as defined in Section (3)(x)(1) of the Federal Deposit Insurance Act, all obligations under this Agreement shall terminate as of the date of such default. Further, all obligations under this Agreement shall be terminated, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of Employer: (a) by the Director (the “Director”) of the Federal Deposit Insurance Corporation (“FDIC”) or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of Employer under the authority of the Federal Deposit Insurance Act; or (b) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems relating to the operation of Employer or when Employer is determined by the Director to be in an unsafe or unsound condition. 3.6.2. No vested rights of Employee under this Agreement shall be affected, except that any payments made to Employee pursuant to this Agreement, including but not limited to Sections 3.2.2 and 3.7, or otherwise are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder.

Other Regulatory Requirements. 3.6.1. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s 's affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, all obligations of Employer under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employer and Employee shall not be affected. If Employer is in default, as defined in Section (3)(x)(1) of the Federal Deposit Insurance Act, all obligations under this Agreement shall terminate as of the date of such default. Further, all obligations under this Agreement shall be terminated, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of Employer: (a) by the Director (the “"Director”") of the Federal Deposit Insurance Corporation (“"FDIC”") or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of Employer under the authority of the Federal Deposit Insurance Act; or (b) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems relating to the operation of Employer or when Employer is determined by the Director to be in an unsafe or unsound condition. 3.6.2. No vested rights of Employee under this Agreement shall be affected, except that any payments made to Employee pursuant to this Agreement, including but not limited to Sections 3.2.2 and 3.7, or otherwise are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder.

Other Regulatory Requirements. 3.6.13. 6.1. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under section 8(e)(4) or (g)(1g)( 1) of the Federal Deposit Insurance Act, all obligations of Employer under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employer and Employee shall not be affected. If Employer is in default, as defined in Section (3)(x)(13)(x)(l) of the Federal Deposit Insurance Act, all obligations under this Agreement shall terminate as of the date of such default. Further, all obligations under this Agreement shall be terminated, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of Employer: (a) by the Director (the “Director”) of the Federal Deposit Insurance Corporation (“FDIC”) or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of Employer under the authority of the Federal Deposit Insurance Act; or (b) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems relating to the operation of Employer or when Employer is determined by the Director to be in an unsafe or unsound condition. 3.6.2. No vested rights of Employee under this Agreement shall be affected, except that any payments made to Employee pursuant to this Agreement, including but not limited to Sections 3.2.2 and 3.7, or otherwise are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder.

Other Regulatory Requirements. 3.6.1. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s 's affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, all obligations of Employer under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employer and Employee shall not be affected. If Employer is in default, as defined in Section (3)(x)(1) of the Federal Deposit Insurance Act, all obligations under this Agreement shall terminate as of the date of such default. Further, all obligations under this Agreement shall be terminated, except to the extent it is determined that continuation of the Agreement is necessary for the continued operation of Employer: (a) by the Director (the “"Director”") of the Federal Deposit Insurance Corporation (“"FDIC”") or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of Employer under the authority of the Federal Deposit Insurance Act; or (b) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems relating to the operation of Employer or when Employer is determined by the Director to be in an unsafe or unsound condition. 3.6.2. No vested rights of Employee under this Agreement shall be affected, except that any payments made to Employee pursuant to this Agreement, including but not limited to Sections 3.2.2 and 3.7Section 3.2.2, or otherwise are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) and any regulations promulgated thereunder.