Common use of Regulatory Termination Clause in Contracts

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. 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 her designee) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Company Bank 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 her designee) at the time the Comptroller (or his her designee) approves a supervisory merger to resolve problems related to the operations of the Company Bank or when the Company Bank 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. 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: (1i) by the Comptroller Director of the Currency OTS (or his her designee) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Company Employer under the authority contained in Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1823(c); or (2ii) by the Comptroller Director of the Currency OTS (or his her designee) at the time the Comptroller Director (or his her designee) approves a supervisory merger to resolve problems related to the operations of the Company Employer or when the Company Employer is determined by the Comptroller 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.