Common use of Suspension Pursuant to Notice Clause in Contracts

Suspension Pursuant to Notice. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Association's affairs by a notice served by the Federal Home Loan Bank Board ("FHLBB") or the Federal Savings and Loan Insurance Corporation ("FSLIC") under Section 5(d)(4)(C) or Section 5(d)(5)(A) of the Home Owners' Loan Act (12 U.S.C. 1464(d)(4)(C) and (5)(d)(A)) or under Section 407(g)(3) or Section 407(h) of the National Housing Act (12 U.S.C. 1730 (g)(3) and (h)), the Association's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Association may in its discretion (i) pay the Executive all or part of the compensation withheld while the Association's obligations under this Agreement were suspended and (ii) reinstate (in whole or in part) any of the Association's obligations under this Agreement which were suspended.

Suspension Pursuant to Notice. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Association's affairs by a notice served by the Federal Home Loan Bank Board ("FHLBB") or the Federal Savings and Loan Insurance Corporation ("FSLIC") under Section 5(d)(4)(C) or Section 5(d)(5)(A) of the Home Owners' Loan Act (12 U.S.C. 1464(d)(4)(C) and (5)(d)(A)) or under Section 407(g)(3) or Section 407(h) of the National Housing Act (12 U.S.C. 1730 (g)(3) and (h)), the Association's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Association may in its discretion (i) pay the Executive all or part of the compensation withheld while the Association's obligations under this Agreement were suspended and (ii) reinstate (in whole or in part) any of the Association's obligations under this Agreement which were suspended.

Suspension Pursuant to Notice. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Association's affairs by a notice served by the Federal Home Loan Bank Board ("FHLBB") or the Federal Savings and Loan Insurance Corporation ("FSLIC") under Section 5(d)(4)(C5 (d) (4) (D) or Section 5(d)(5)(A5 (d) (5) (A) of the Home Owners' Owner's Loan Act (12 U.S.C. 1464(d)(4)(C1464 (d) (4) (D) and 5 (5)(d)(Ad) (5) (A)) or under Section 407(g)(3407 (g) (4) or Section 407(h407 (h) of the National Housing Act (12 U.S.C. 1730 (g)(3g) (4) and (h)), the Association's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Association may in its discretion (i) pay the Executive all or part of the compensation withheld while the Association's obligations under this Agreement were suspended and (ii) reinstate (in whole or in part) any of the Association's obligations under this Agreement agreement which were suspended.