Common use of Regulatory Actions Clause in Contracts

Regulatory Actions. The following provisions shall be applicable to the parties: (a) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(3) and 1818(g)(1)), the Bank’s obligations under this Agreement shall be suspended as of the date of suspension, unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIA, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (c) If the Bank is in default, as defined in Section 3(x)(1) of the FDIA, all obligations of the Bank under this Agreement shall terminate as of the date of such default, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (d) Notwithstanding any other provision of this Agreement to the contrary, any amounts paid or payable under the FDIA to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Sections 18(k) and 32(a) of the FDIA and Part 359 of the FDIC’s rules and regulations, and any regulations promulgated under the FDIA.

Regulatory Actions. The following provisions shall be applicable to the parties:parties to the extent that they are required to be included in employment agreements between a savings bank and its employees pursuant to Section 563.39(b) of the Regulations Applicable to All Savings Associations, 12 C.F.R. §563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. (a) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Bank’s obligations under this Agreement shall be suspended as of the date of suspensionservice, unless stayed by appropriate proceedings. If the charges and in the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement were suspended suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIAFDIA (12 U.S.C. §§1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (c) If the Bank is in default, as defined in Section 3(x)(1) of the FDIAFDIA (12 U.S.C. §1813(x)(1)), all obligations of the Bank under this Agreement shall terminate as of the date of such default, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (d) Notwithstanding any other provision of All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5), except to the contraryextent that it is determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Director of the Office of Thrift Supervision (“OTS”), any amounts paid or payable his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of the Bank under the FDIA to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Sections 18(k) and 32(aauthority contained in Section 13(c) of the FDIA and Part 359 (12 U.S.C. §1823(c)); or (ii) by the Director of the FDIC’s rules OTS, or his/her designee, at the time the Director or his/her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director of the OTS to be in an unsafe or unsound condition, but vested rights of the Executive and regulations, and any regulations promulgated under the FDIABank as of the date of termination shall not be affected.

Regulatory Actions. The following provisions shall be applicable to the parties:parties to the extent that they are required to be included in employment agreements between a savings bank and its employees pursuant to Section 163.39(b) of the regulations of the Comptroller of the Currency (“OCC”), 12 C.F.R. §163.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. (a) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s 's affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Bank’s 's obligations under this Agreement shall be suspended as of the date of suspensionservice, unless stayed by appropriate proceedings. If the charges and in the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement were suspended suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIAFDIA (12 U.S.C. §§1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (c) If the Bank is in default, as defined in Section 3(x)(1) of the FDIAFDIA (12 U.S.C. §1813(x)(1)), all obligations of the Bank under this Agreement shall terminate as of the date of such default, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (d) Notwithstanding any other provision of All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §163.39(b)(5), except to the contraryextent that it is determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Comptroller of the Currency, any amounts paid or payable his or her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of the Bank under the FDIA to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Sections 18(k) and 32(aauthority contained in Section 13(c) of the FDIA and Part 359 (12 U.S.C. §1823(c)); or (ii) by the Comptroller of the FDIC’s rules Currency or his or her designee, at the time the Comptroller of the Currency or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Comptroller of the Currency to be in an unsafe or unsound condition, but vested rights of the Executive and regulations, and any regulations promulgated under the FDIAEmployer as of the date of termination shall not be affected.

Regulatory Actions. The following provisions shall be applicable to controlling in the parties:event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. (a) If the Executive Officer is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s 's affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 "FDIA")(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Bank’s 's obligations under this Agreement shall be suspended as of the date of suspensionservice, unless stayed by appropriate proceedings. If the charges and in the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive Officer all or part of the compensation withheld while its obligations under this Agreement were suspended suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Executive Officer is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIAFDIA (12 U.S.C. §§1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive Officer and the Bank as of the date of termination shall not be affected. (c) If the Bank is in default, as defined in Section 3(x)(1) of the FDIAFDIA (12 U.S.C. §1813(x)(1)), all obligations of the Bank under this Agreement shall terminate as of the date of such default, but vested rights of the Executive Officer and the Bank as of the date of termination shall not be affected. (d) Notwithstanding any other provision of All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §163.39(b)(5), except to the contraryextent that it is determined that continuation of the Agreement for the continued operation of the Bank is necessary: (i) by the Comptroller of the Office of the Comptroller of the Currency (the "Comptroller"), any amounts paid or payable his/her designee, at the time the Federal Deposit Insurance Corporation ("FDIC") enters into an agreement to provide assistance to or on behalf of the Bank under the FDIA to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Sections 18(k) and 32(aauthority contained in Section 13(c) of the FDIA and Part 359 (12 U.S.C. §1823(c)); or (ii) by the Comptroller, or his/her designee, at the time the Comptroller or his/her designee approves a supervisory merger to resolve problems related to operation of the FDIC’s rules Bank or when the Bank is determined by the Comptroller to be in an unsafe or unsound condition, but vested rights of the Officer and regulations, and any regulations promulgated under the FDIAEmployer as of the date of termination shall not be affected.

Regulatory Actions. The following provisions shall be applicable to the parties:parties to the extent that they are required to be included in employment agreements between a savings bank and its employees pursuant to Section 563.39(b) of the Regulations Applicable to all Savings Associations, 12 C.F.R. §563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. (a) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs pursuant to notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Bank’s obligations under this Agreement shall be suspended as of the date of suspensionservice, unless stayed by appropriate proceedings. If the charges and in the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive all or part of the compensation withheld while its obligations under this Agreement were suspended suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. (b) If the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIAFDIA (12 U.S.C. §§1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (c) If the Bank is in default, as defined in Section 3(x)(1) of the FDIAFDIA (12 U.S.C. §1813(x)(1)), all obligations of the Bank under this Agreement shall terminate as of the date of such default, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. (d) Notwithstanding any other provision of All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5) (except to the contraryextent that it is determined that continuation of the Agreement for the continued operation of the Bank is necessary): (i) by the Director of the OTS, any amounts paid or payable his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of the Bank under the FDIA to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Sections 18(k) and 32(aauthority contained in Section 13(c) of the FDIA and Part 359 (12 U.S.C. §1823(c)); or (ii) by the Director of the FDIC’s rules OTS, or his/her designee, at the time the Director or his/her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director of the OTS to be in an unsafe or unsound condition, but vested rights of the Executive and regulations, and any regulations promulgated under the FDIAEmployers as of the date of termination shall not be affected.