REGULATORY SETTLEMENT AGREEMENT TERMS Sample Clauses

REGULATORY SETTLEMENT AGREEMENT TERMS. 1. By their signature and delivery of this Regulatory Settlement Agreement, as described below, and by virtue of the execution of this Regulatory Settlement Agreement by the Lead Regulatory Negotiator on behalf of and for the benefit of the Participating Regulators, the Participating Regulators each acknowledge and agree that: (1) they have read and understand the terms and conditions of the Stipulation of Settlement; (2) the Lead Regulatory Negotiator has participated in the settlement negotiations between attorneys for the class and attorneys representing the Companies; and (3) the Lead Regulatory Negotiator has been actively involved in the evaluation and discussion of each form of relief which is included within the Stipulation of Settlement. By the signature and delivery of this Regulatory Settlement Agreement, each Participating Regulator further acknowledges the sufficiency and fairness of this Regulatory Settlement Agreement and of the Stipulation of Settlement Agreement, and agrees that the execution of such documents fairly, reasonably and adequately address the concerns of class members as defined in the Stipulation of Settlement including the past, present and future policy owners, and any holders, insureds, beneficiaries, payees and other parties in interest with respect to this Regulatory Settlement Agreement. Each Participating Regulator by way of signature below gives his/her express assurance that under their applicable state laws, regulations and judicial rulings, they have the authority to enter into this Regulatory Settlement Agreement. Each Participating Regulator shall execute and deliver this Regulatory Settlement Agreement to the Lead Regulatory Negotiator within twenty (20) days following the receipt of this Regulatory Settlement Agreement from the Lead Regulatory Negotiator. If a Participating Regulator finds that, under state law, regulation or procedure, the preparation and execution of a consent order is necessary to carry out the terms of this Regulatory Settlement Agreement, such a consent order (the “Applicable Consent Order”) shall be prepared by such Participating Regulator within twenty (20) days following the receipt of this Regulatory Settlement Agreement from the Lead Regulatory Negotiator. For purposes of this Regulatory Settlement Agreement, an “Applicable Consent Order” shall be satisfactory to the Companies if it: (1) acknowledges the authority of the Lead Regulatory Negotiator as described herein; (2) incorporates...
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REGULATORY SETTLEMENT AGREEMENT TERMS. A. Pursuant to this Regulatory Settlement Agreement, Class Members will, depending on their eligibility hereunder, receive one or more forms of the benefits described in Sections IV through VIII below. B. With respect to each Policy making a Class Member eligible for benefits, the Policy’s Eligible Holder(s) will receive the benefits for which that Policy is eligible hereunder, subject to the terms of Sections III.C, III.D, III.E and III.F below; provided however, that for any settlement benefit payable under this Agreement based upon a Policy for which a death claim is made following the commencement of the Implementation Period, the settlement benefit shall be paid to the payee of the Policy’s contractual benefits (or, if there is more tha n one payee, to each payee in proportion to the relative amounts of benefits to which each is entitled under the Policy); and provided however, that in the event of any conflict between this Section III and Section X below, the provisions of Section X shall govern. No duplicate relief shall be provided to multiple Holders of the same Policy, or to their estates or descendants. C. If all Eligible Holders associated with a Policy are deceased, then the Estate Holder(s) may exercise the rights of, and receive all settlement benefits payable to, the Holders of such Policy, subject to the terms of Sections III.D, III.E and III.F below. Settlement benefits shall be payable to the Estate Holder only if, prior to the commencement of the Implementation Period, either (a) the Holder’s estate’s administrator submits evidence of his or her court-appointment as administrator of the estate or (b) an heir of the Holder submits a declaration, in the form attached hereto as Exhibit I, establishing the authority of the heir to act for the Holder’s estate. D. For all benefits under this Regulatory Settlement Agreement other than the SDB: 1. Where more than one person or entity is an Eligible Holder of a Policy, settlement benefits shall be distributed among such Eligible Holders in the manner and using the procedures specified in Section III.
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REGULATORY SETTLEMENT AGREEMENT TERMS. 24 IV. BENEFITS FOR IN-FORCE POLICIES................................... 30
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REGULATORY SETTLEMENT AGREEMENT TERMS. A. Pursuant to this Regulatory Settlement Agreement, Class Members will, depending on their eligibility hereunder, receive one or more forms of the benefits described in Sections IV through VIII below.
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REGULATORY SETTLEMENT AGREEMENT TERMS 
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Related to REGULATORY SETTLEMENT AGREEMENT TERMS

  • Monetary Settlement Terms 3.1 Civil Penalty Payment

  • Settlement Terms In respect of any Component:

  • Modification of Settlement Agreement Any modification to this Settlement Agreement shall be in writing and signed by the Parties.

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • EXECUTION OF SETTLEMENT AGREEMENT This Settlement Agreement may be signed in one or more counterparts which together shall constitute a binding agreement.

  • FAILURE TO HONOUR SETTLEMENT AGREEMENT If this Settlement Agreement is accepted by the Hearing Panel and, at any subsequent time, the Respondent fails to honour any of the Terms of Settlement set out herein, Staff reserves the right to bring proceedings under section 24.3 of the By-laws of the MFDA against the Respondent based on, but not limited to, the facts set out in Part IV of the Settlement Agreement, as well as the breach of the Settlement Agreement. If such additional enforcement action is taken, the Respondent agrees that the proceeding(s) may be heard and determined by a hearing panel comprised of all or some of the same members of the hearing panel that accepted the Settlement Agreement, if available.

  • NON-ACCEPTANCE OF SETTLEMENT AGREEMENT If, for any reason whatsoever, this Settlement Agreement is not accepted by the Hearing Panel or an Order in the form attached as Schedule “A” is not made by the Hearing Panel, each of Staff and the Respondent will be entitled to any available proceedings, remedies and challenges, including proceeding to a disciplinary hearing pursuant to sections 20 and 24 of By- law No. 1, unaffected by this Settlement Agreement or the settlement negotiations.

  • PAYMENT AND SETTLEMENT You shall deliver to the Manager on the date and at the place and time specified in the applicable AAU (or on such later date and at such place and time as may be specified by the Manager in a subsequent Wire) the funds specified in the applicable AAU, payable to the order of Xxxxxxx Xxxxx Xxxxxx Inc., for (i) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of the Firm Securities to be purchased by you, (ii) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of such of the Firm Securities to be purchased by you as shall have been retained by or released to you for direct sale as contemplated by Section 3.6 hereof or (iii) the amount set forth or indicated in the applicable AAU, as the Manager shall advise. You shall make similar payment as the Manager may direct for Additional Securities, if any, to be purchased by you on the date specified by the Manager for such payment. The Manager will make payment to the Issuer or Seller against delivery to the Manager for your account of the Securities to be purchased by you, and the Manager will deliver to you the Securities paid for by you which shall have been retained by or released to you for direct sale. If the Manager determines that transactions in the Securities are to be settled through the facilities of DTC or other clearinghouse facility, payment for and delivery of Securities purchased by you shall be made through such facilities, if you are a member, or, if you are not a member, settlement shall be made through your ordinary correspondent who is a member.

  • Settlement Agreement Respondent understands that Respondent has the right to a formal adjudicatory hearing concerning this matter and that at said hearing

  • SETTLEMENT TERMS AND CONDITIONS Contour is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598. Therefore, in consideration of the promises and covenants set forth herein, the Settling Parties agree, as follows: 1. Contour shall not: a. Under any name or designation conduct or transact business in this state at any physical location that has not been approved by the Superintendent; b. Under any name or designation conduct or transact business in this state through the use of any website or domain name that has not been approved by the Superintendent; c. Conduct or transact business under any name or designation other than that shown on its license or branch certificate; d. Assign mortgage loan originators to locations that are not licensed by the Superintendent; e. Engage in net branching or offer net branching opportunities in violation of the Department’s prohibition against net branching; f. Transfer or assign its mortgage banker license; g. Engage in conduct prohibited by Part 38 of the General Regulations. 2. Contour agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters relating to its mortgage business, including but not limited to: a. Complying with the requirements of Banking Law Articles 12-D and 12- E, Part 420 of the Superintendent’s Regulations, and Part 38 of the General Regulations; b. Assigning mortgage loan originators only to locations licensed by the Superintendent, and displaying the license for each mortgage loan originator working at such location; c. Providing the proper oversight and supervision of each individual who becomes employed by, or affiliated as an independent contractor of or consultant for, Contour; and d. Maintaining books and records in a manner that will enable the Superintendent to determine whether Contour is complying with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. 3. Contour agrees to develop a comprehensive operations manual governing its day-to-day operations, which shall, at a minimum, address the: a. Establishment of new business locations; b. Use of business names and designations; c. Activities and supervision of employees, independent contractors, and consultants; and d. Maintenance of books and records. 4. Contour agrees to develop a written compliance manual designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. The manual shall, at a minimum, address: a. The designation of an individual responsible for monitoring compliance with all applicable laws, regulations, supervisory requirements, and guidance letters; b. Prohibited conduct as described by Section 38.7 of the General Regulations; c. The duties of an originating entity as described by Part 420 of the Superintendent’s Regulations; d. Reporting requirements as described by Part 420 of the Superintendent’s Regulations; e. Use of business names and designations, domain names, and websites; f. The duties and responsibilities of employees, independent contractors, and consultants; and g. A compliance training program for employees and independent contractors. 5. Within ninety (90) days from the effective date of this Agreement, Xxxxxxx agrees to submit drafts of its operations and compliance manuals to the Department. 6. Within one hundred twenty (120) days from the effective date of this Agreement, Xxxxxxx agrees to submit copies of its final operations and compliance manuals to the Department together with a letter from an authorized officer of Contour indicating his or her approval of said manuals. 7. Contour agrees that its mortgage banking activities will be subject to examinations semi-annually for a twenty-four-month period following the execution of this Agreement. 8. Contour agrees to pay a fine of $20,000. Contour further agrees that such payment will be made in immediately available funds in accordance with Department payment instructions.

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