Regulatory Removal Clause Samples
Regulatory Removal. If the Executive is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(e) or (g) of the Federal Deposit Insurance Act or similar statute, rule or regulation, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order.
Regulatory Removal. If the Executive is removed from ------------------ office and/or permanently prohibited from participating in the conduct of the Company's affairs by an order issued under Sections 8(3)(4) or 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1818(e)(4) or (g)(1)), this agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.
Regulatory Removal. If the Executive is removed and/or permanently prohibited from participating in the conduct of Coast’s affairs by an order issued under Sections 8(e) or (g) of the Federal Deposit Insurance Act or similar statute, rule or regulation, all obligations of Coast under this Agreement shall terminate as of the effective date of the order.
Regulatory Removal. If the Executive is removed and/or permanently prohibited from participating in the conduct of Hacienda’s affairs by an order issued under Sections 8(e) or (g) of the Federal Deposit Insurance Act or similar statute, rule or regulation, all obligations of Hacienda under this Agreement shall terminate as of the effective date of the order.