Common use of REGULATORY AND OTHER RESTRICTIONS Clause in Contracts

REGULATORY AND OTHER RESTRICTIONS. (a) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of Pinnacle's and/or Pinnacle Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA"), 12 U.S.C. Section 1818(e)(3) and (g)(1), or Section 37 of the Michigan Banking Code (the "MBC"), M.C.L. Section 487.337, Pinnacle's and Pinnacle Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Pinnacle and/or Pinnacle Bank may in its discretion (i) pay the Executive all or part of withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended.

REGULATORY AND OTHER RESTRICTIONS. (a) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of Pinnacle's and/or Pinnacle Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA"), 12 U.S.C. Section 1818(e)(3) and (g)(1), or Section 37 of the Michigan Banking Code (the "MBC"), M.C.L. Section 487.337, Pinnacle's and Pinnacle Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Pinnacle and/or Pinnacle Bank may in its discretion (i) pay the Executive all or part of withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended.

REGULATORY AND OTHER RESTRICTIONS. (a) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of Pinnacle's and/or Pinnacle Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA"), 12 U.S.C. Section 1818(e)(3) and (g)(1), or Section 37 of the Michigan Banking Code (the "MBC"), M.C.L. Section 487.337, Pinnacle's and and/or Pinnacle Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Pinnacle and/or Pinnacle Bank may in its discretion (i) pay the Executive all or part of withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended.