Common use of Termination Under Banking Laws Clause in Contracts

Termination Under Banking Laws. (a) If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. '1818 (e)(3) and (g)(1)), the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 4 contracts

Samples: Employment Agreement (Golden State Bancorp Inc), Employment Agreement (Golden State Holdings Inc), Employment Agreement (Golden State Holdings Inc)

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Termination Under Banking Laws. (a) 4.5.1 If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. '1818 (e)(3Section 1818(e)(3) and (g)(1g)(l)), ) the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1i) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (First Nationwide Parent Holdings Inc), Employment Agreement (First Nationwide Holdings Inc)

Termination Under Banking Laws. (a) 4.5.1 If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. '1818 (e)(3Section 1818(e)(3) and (g)(1)), ) the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1i) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (First Nationwide Parent Holdings Inc), Employment Agreement (First Nationwide Holdings Inc)

Termination Under Banking Laws. (a) 4.5.1 If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. '1818 (e)(31818(e)(3) and (g)(1)), ) the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1i) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (First Nationwide Holdings Inc), Employment Agreement (First Nationwide Parent Holdings Inc)

Termination Under Banking Laws. (a) 4.5.1 If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. '1818 (e)(31818(e)(3) and (g)(1)), ) the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1I) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (Golden State Bancorp Inc), Employment Agreement (Golden State Holdings Inc)

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Termination Under Banking Laws. (a) If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. 'Section 1818 (e)(3) and (g)(1)), the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (Golden State Bancorp Inc), Employment Agreement (Golden State Holdings Inc)

Termination Under Banking Laws. (ai) If the Executive is suspended or temporarily prohibited from participating in the conduct of the Company's affairs by a notice served under Section 8(e)(33(e) (3) or (g)(1g) (1) of the Federal Deposit Insurance Act (the "FDIA") (12 U.S.C. 'Section 1818 (e)(3e) (3) and (g)(1g) (1)), ) the Company's obligations under this Agreement shall be suspended as of the date of service of such notice unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may in its discretion (1i) pay the Executive all or part of the compensation withheld while its obligations hereunder were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Appears in 1 contract

Samples: Employment Agreement (First Nationwide Holdings Inc)

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