Common use of SETTLEMENT TERMS AND CONDITIONS Clause in Contracts

SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by Xx. Xxxxxxxxxx that: 1. Xx. Xxxxxxxxxx is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives his right to a hearing under Section 44 of the Banking law and 3 NYCRR 420.21 and any appeal on such violations. In consideration of the promises and covenants set forth herein, the Parties agrees as follows: 2. Xx. Xxxxxxxxxx agrees to take all necessary steps to ensure his compliance with all applicable federal and state laws, regulations and supervisory requirements relating to his mortgage business, including, but not limited to: a. complying with the requirements of Articles 12-D and 12-E of the Banking Law and 3 NYCRR 420; and b. ensuring that he will not copy, download or delete loan files or other information from the premises or automated system of any originating entity without prior authorization of such originating entity; 3. Xx. Xxxxxxxxxx agrees to pay a fine of $8,500 as a penalty. Xx. Xxxxxxxxxx further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions. 4. Xx. Xxxxxxxxxx shall not accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of his affiliates, with regard to any or all of the amount payable pursuant to this Agreement. 5. Xx. Xxxxxxxxxx agrees that he will not claim, assert, or apply for a tax deduction or tax credit with regard to any United States federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.

SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by Xx. Xxxxxxxxxx that: 1. ) Xx. Xxxxxxxxxx is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives his right to a hearing under Section 44 of the Banking law and 3 NYCRR 420.21 and any appeal on such violations. In consideration of the promises and covenants set forth herein, the Parties agrees as follows: 2. ) Xx. Xxxxxxxxxx agrees to take all necessary steps to ensure his compliance with all applicable federal and state laws, regulations and supervisory requirements relating to his mortgage business, including, but not limited to: a. complying with the requirements of Articles 12-D and 12-E of the Banking Law and 3 NYCRR 420; and b. ensuring that he will not copy, download or delete loan files or other information from the premises or automated system of any originating entity without prior authorization of such originating entity; 3. ) Xx. Xxxxxxxxxx agrees to pay a fine of $8,500 15,000 as a penalty. , payable in 12 monthly installments as follows: (i) $1,250 upon execution of this Agreement, and (ii) $1,250 on or before the 15th day of each of the immediately following 11 months. 4) Xx. Xxxxxxxxxx further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions. 4. 5) Xx. Xxxxxxxxxx shall not accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of his affiliates, with regard to any or all of the amount payable pursuant to this Agreement. 5. 6) Xx. Xxxxxxxxxx agrees that he will not claim, assert, or apply for a tax deduction or tax credit with regard to any United States federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.

SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by Xx. Xxxxxxxxxx Xxxxxxx that: 1. Xx. Xxxxxxxxxx Xxxxxxx is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives his right to a hearing under Section 44 of the Banking law Law and 3 NYCRR 420.21 and any appeal on such violations. In consideration of the promises and covenants set forth herein, the Parties agrees as follows: 2. Xx. Xxxxxxxxxx Xxxxxxx agrees to take all necessary steps to ensure his compliance with all applicable federal and state laws, regulations and supervisory requirements relating to his mortgage business, including, but not limited to: a. complying with the requirements of Articles 12-D and 12-E of the Banking Law and 3 NYCRR 420; and; b. ensuring that he will not copy, download or delete loan files or other information from the premises or automated system of any originating entity without prior authorization of such originating entity; 3. Xx. Xxxxxxxxxx Xxxxxxx agrees to pay a fine of $8,500 as a penalty, Payable in 12 monthly installments as follows: (i) $1,592 upon execution of this Agreement, and (ii) $628 on or before the 15th day of each of the immediately following 11 months. 4. Xx. Xxxxxxxxxx Xxxxxxx further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions. 45. Xx. Xxxxxxxxxx Xxxxxxx shall not accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of his affiliates, with regard to any or all of the amount payable pursuant to this Agreement. 56. Xx. Xxxxxxxxxx Xxxxxxx agrees that he will not claim, assert, or apply for a tax deduction or tax credit with regard to any United States federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.

SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by Xx. Xxxxxxxxxx Xxxxx that: 1. Xx. Xxxxxxxxxx Xxxxx is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives his right to a hearing under Section 44 of the Banking law and 3 NYCRR 420.21 and any appeal on such violations. In consideration of the promises and covenants set forth herein, the Parties agrees as follows: 2. Xx. Xxxxxxxxxx Xxxxx agrees to take all necessary steps to ensure his compliance with all applicable federal and state laws, regulations and supervisory requirements relating to his mortgage business, including, but not limited to: a. complying with the requirements of Articles 12-D and 12-E of the Banking Law and 3 NYCRR 420; and b. ensuring that he will not copy, download or delete loan files or other information from the premises or automated system of any originating entity without prior authorization of such originating entity; 3. Xx. Xxxxxxxxxx Xxxxx agrees to pay a fine of $8,500 10,000 as a penalty, payable in 12 installments as follows: (1) $2,004 upon execution of this Agreement (2) Six payments of $556 on or before the 15th of each of the immediately following six (6) months (3) $932 on or before the 15th day of the remaining five (5) months 4. Xx. Xxxxxxxxxx Xxxxx further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions. 45. Xx. Xxxxxxxxxx Xxxxx shall not accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of his affiliates, with regard to any or all of the amount payable pursuant to this Agreement. 56. Xx. Xxxxxxxxxx Xxxxx agrees that he will not claim, assert, or apply for a tax deduction or tax credit with regard to any United States federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.