Common use of Regulatory Suspension Clause in Contracts

Regulatory Suspension. (a) If Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of Employers by a notice served under Sections 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S)1818(e)(3) or (g)(1), then the obligations of Employers under this Agreement shall be suspended as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, then the Employers may, in their discretion, (i) pay Employee all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended. (b) If Employee is removed and/or permanently prohibited from participating in the conduct of the affairs of Employer by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S) 1818(e)(4) or (g)(1), then all obligations of the Employers under this Agreement shall terminate as of the effective date of the order.

Regulatory Suspension. (a) If Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of Employers Employer by a notice served under Sections 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S)1818(e)(3S) 1818(e)(3) or (g)(1), then the obligations of Employers Employer under this Agreement shall be suspended as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, then the Employers may, Employer may in their discretion, its discretion (i) pay Employee all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended. (b) If Employee is removed and/or permanently prohibited from participating in the conduct of the affairs of Employer by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S) 1818(e)(4) or (g)(1), then all obligations of (c) If Employer is in "default" as defined in Section 3(x)(1) of the Employers Federal Deposit Insurance Act, all obligations under this Agreement shall terminate as of the effective date of default, but this paragraph shall not affect any vested rights of the orderparties hereto.

Regulatory Suspension. (a) If Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of Employers Employer by a notice served under Sections 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S)1818(e)(3) or (g)(1), then the obligations of Employers Employer under this Agreement shall be suspended as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, then the Employers Employer may, in their discretion, (i) pay Employee all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended. (b) If Employee is removed and/or permanently prohibited from participating in the conduct of the affairs of Employer by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S) 1818(e)(4) or (g)(1), then all obligations of the Employers Employer under this Agreement shall terminate as of the effective date of the order.

Regulatory Suspension. (a) If Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of Employers by a notice served under Sections 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S)1818(e)(3) or (g)(1), then the obligations of Employers under this Agreement shall be suspended as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, then the Employers may, in their discretion, (i) pay Employee all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended. (b) If Employee is removed and/or permanently prohibited from participating in the conduct of the affairs of Employer by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. (S) 1818(e)(4) or (g)(1), then all obligations of the Employers under this Agreement shall terminate as of the effective date of the order.