Common use of Termination by Regulators Clause in Contracts

Termination by Regulators. 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 Bank: (1) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority Timberland Employment Agreement - 9 contained in Section 13(c) of the FDIA; or (2) by the FDIC, at the time it approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the parties that have already vested, however, shall not be affected by any such action.

Termination by Regulators. All obligations under this Agreement shall will be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) by the Federal Deposit Insurance Corporation (the "FDIC") at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority Timberland Employment Agreement - 9 contained in Section 13(c) of the FDIA; or (2) when the Bank is determined by the FDICFDIC to be in an unsafe or unsound condition. However, at the time it approves a supervisory merger to resolve problems related to operation of the Bank. Any vested rights of the contracting parties that have already vested, however, shall will not be affected by any such actionaffected.

Termination by Regulators. 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 Bank: (1) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority Timberland Employment Agreement - 9 contained in Section 13(c) of the FDIA; or (2) by the FDICFDIC or the OCC, at the time it either agency approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the parties that have already vested, however, shall not be affected by any such action.