Regulatory Termination. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the institution: (i) by the Director of the OTS (or his designee) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1823(c); or (ii) by the Director of the OTS (or his designee) at the time the Director (or his designee) approves a supervisory merger to resolve problems related to the operations of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.
Regulatory Termination. PacifiCorp may terminate this Agreement if Seller (i) suspends operations at the Facility for more than 30 days as the result of a regulatory or legal action by either the State of Utah or the United States Environmental Protection Agency which has become final without further appeal or (ii) loses its QF certification.
Regulatory Termination. PacifiCorp may terminate this Agreement, with the advance approval of the Commission, in the event Seller does not maintain the QF Facility as a QF or otherwise based upon the QF Facility’s loss of its QF certification.
Regulatory Termination. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the institution: (1) by the Comptroller of the Currency (or his designee) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Company under the authority contained in Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1823(c); or (2) by the Comptroller of the Currency (or his designee) at the time the Comptroller (or his designee) approves a supervisory merger to resolve problems related to the operations of the Company or when the Company is determined by the Comptroller to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.
Regulatory Termination. Should the South Dakota Public Utilities Commission or any court of competent jurisdiction fail to assign the customer to the Cooperative, this contract shall be null and void.
Regulatory Termination. All obligations under this Agreement shall be terminated, except to the extent that a determination has been made that continuation of this Agreement is necessary for continued operation of Sunshine:
(i) by the Director or his or her designee, at the time the Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of Sunshine under the authority contained in Section 13(c) of the Federal Deposit Insurance Act; or
(ii) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of Sunshine, or when Sunshine is determined by the Director to be in unsafe or unsound condition.
Regulatory Termination. A Trust may terminate this Agreement as to a Trust or a Fund with thirty (30) days prior written notice to Custodian without penalty in the event that a regulatory body, including a self-regulatory body (i.e. FINRA, SEC) determines that the services provided under the Agreement do not comply with the laws, rules, regulations, findings or guidelines of such regulatory or self-regulatory body (“Regulatory Issue”) and Custodian determines that it cannot make modifications or enhancements to the applicable services within a commercially reasonable period to resolve any such Regulatory Issue. A terminating Trust may provide Custodian with all written documentation from any such regulatory or self-regulatory body related to any such determination along with the termination notice. If a Trust terminates this Agreement as to a Trust or a Fund based on a Regulatory Issue, notwithstanding anything to the contrary in the Agreement, the Trust will not be responsible for any payments under Section 13.05 of this Agreement as to the Trust, or, in the event of the termination of a Fund, as to the terminated Fund.
Regulatory Termination. All obligations under this Employment Agreement shall be terminated, except to the extent that a determination has been made that continuation of this Employment Agreement is necessary for the continued operation of Employer:
(1) by the Director or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on behalf of Employer under the authority contained in Section 13(c) of the Federal Deposit Insurance Act; or
(2) by the Department or the Director or his/her designee, at the time the Department or the Director or his/her designee approves a supervisory merger to resolve problems related to operation of the Employer or when the Employer is determined by the Director to be in an unsafe or unsound condition. Any of Employee’s rights that have already vested under the 2000 Key Employee Stock Option Plan and the Bay Cities Bank 401K Plan, however, shall not be affected by such action. For purposes of this subsection 14(d) of the Employment Agreement, the term “Director” shall mean the Director of the FDIC.
Regulatory Termination. All obligations under this Agreement shall be terminated, except to the extent that a determination has been made that continuation of this Agreement is necessary for continued operation of the Bank:
(i) by the Director or his or her designee, at the time the Office of Thrift Supervision (“OTS”) or Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistant to or on behalf of the Bank under the authority to contained in Section 13(c) of the Federal Deposit Insurance Act; or
(ii) by the OTS, FDIC or the Director, or his or her designee, at the time the OTS, FDIC or the Director, or his or her designee, approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank’s determined by the OTS, FDIC or the Director to be in unsafe or unsound condition. Any of Employee’s rights that have already vested, however, shall not be affected by such action. For purposes of this subsection of this Agreement, the term “Director” shall mean the Director of the OTS or the FDIC.
Regulatory Termination. LifeScan may terminate this Agreement (without payment of any penalty or fee) on thirty (30) days prior written notice if LifeScan is prohibited from selling all Covered Products by a competent regulatory authority or is otherwise unable to sell Product(s) due to regulatory or legal constraints in the major markets in the Territory.
