Common use of Suspension or Termination Required by the OTS Clause in Contracts

Suspension or Termination Required by the OTS. (A) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under section 8(e)(3), or section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1818(e)(3) and (g)(1), the Bank's obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (1) pay Executive all of the compensation withheld while its obligations under this Agreement were suspended and (2) reinstate any of its obligations which were suspended.

Suspension or Termination Required by the OTS. (A) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under section 8(e)(3), or section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section ss. 1818(e)(3) and (g)(1), the Bank's obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (1) pay Executive all of the compensation withheld while its obligations under this Agreement were suspended and (2) reinstate any of its obligations which were suspended.

Suspension or Termination Required by the OTS. (A) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under section 8(e)(3), or section 8(g)(1) ), of the Federal Deposit Insurance Act ([12 U.S.C. Section ss. 1818(e)(3) and (g)(1)], the Bank's obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank the Employer shall (1i) pay Executive all of the compensation withheld while its their obligations under this Agreement were suspended suspended, and (2ii) reinstate any of its such obligations which as were suspended.

Suspension or Termination Required by the OTS. (A) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under section 8(e)(3), or section 8(g)(1) ), of the Federal Deposit Insurance Act ([12 U.S.C. Section euro 1818(e)(3) and (g)(1)], the Bank's obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank the Employer shall (1i) pay Executive all of the compensation withheld while its their obligations under this Agreement were suspended suspended, and (2ii) reinstate any of its such obligations which as were suspended.

Suspension or Termination Required by the OTS. (A) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under section 8(e)(3), or section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section Sections 1818(e)(3) and (g)(1), the Bank's obligations under the Agreement shall be suspended as of the date of service of the notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (1) pay Executive all of the compensation withheld while its obligations under this Agreement were suspended and (2) reinstate any of its obligations which were suspended.