Common use of Termination Pursuant to Order Clause in Contracts

Termination Pursuant to Order. If the Executive is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order of the FHLBB or FSLIC issued under Section 5(d)(4)(D) or Section 5(d)(5)(A) of the Home Owners' Loan Act (12 U.S.C. 1464(d)(4)(D) and (d)(5)(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)), all obligations of the Association under this Agreement shall terminate as of the effective date of the order, but vested rights of the Association and Executive shall not be affected.

Termination Pursuant to Order. If the Executive is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order of the FHLBB or FSLIC issued under Section 5(d)(4)(D5 (d) (4) (D) or Section 5(d)(5)(A5 (d) (5) (A) of the Home Owners' Loan Act (12 U.S.C. 1464(d)(4)(D) and (d)(5)(A)) or under Section 407(g)(3407 (g) (3) or Section 407(h407 (h) of the National Housing Act (12 U.S.C. 1730(g)(31730 (g) (3) and (h))) , all obligations of the Association under this Agreement shall terminate as of the effective date of the order, but vested rights of the Association and Executive shall not be affected.

Termination Pursuant to Order. If the Executive is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order of the FHLBB or FSLIC issued under Section 5(d)(4)(D5 (d) (4) (E) or Section 5(d)(5)(A5 (d) (5) (A) of the Home Owners' Loan Owner's Act (12 U.S.C. 1464(d)(4)(D1464 (d) (4) (E) and (d)(5)(Ad) (5) (A)) or under Section 407(g)(3section 407 (g) (5) or Section 407(h407 (h) of the National Housing Act (12 U.S.C. 1730(g)(31730 (g) (5) and (h)), all obligations of the Association under this Agreement shall terminate as of the effective date of the order, but vested rights of the Association and Executive shall not be affected.