Common use of Use of the FDIC's Name and FDIC Legal Powers Clause in Contracts

Use of the FDIC's Name and FDIC Legal Powers. The Company must comply with, and the Manager must cause the Company to comply with, the following (with any failure to comply being subject to Section 7.4 of the Transfer Agreement, as if fully set forth herein, mutatis mutandis): (a) The Company will not use, or permit the use by its agents, successors or assigns or any Ownership Entity of, any name or combination of letters that is similar to "FDIC" or "Federal Deposit Insurance Corporation." The Company will not represent or imply, and will ensure that no Ownership Entity represents or implies, that it is affiliated with, authorized by or in any way related to the FDIC except that (i) the Company may reference the FDIC (including in litigation) in connection with ownership issues regarding the Company's acquisition, or the FDIC's retention of assets or liabilities, and (ii) for so long as the FDIC is a Member of the Company, the Company may represent that fact. (b) (i) Subject to the terms of Section 12.23(b)(ii), the Company will not in any manner assert, plead, use or refer to or describe, and will ensure that no Ownership Entity, in any manner asserts, pleads, or uses, refers to or describes any FDIC Legal Power in any Action or in writing to any third party; provided, however, that this Section 12.23 does not preclude the assertion of, and the Company and the Ownership Entities may assert and claim the benefit of, the statute of limitations established under 12 U.S.C. §1821(d)(14) or any jurisdictional defect or lack of jurisdiction (including under 12 U.S.C. §1821(d)(13)(D)).

Appears in 6 contracts

Samples: Private Owner Interest Sale and Assignment Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

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Use of the FDIC's Name and FDIC Legal Powers. The Company must comply with, and the Manager must cause the Company to comply with, the following (with any failure to comply being subject to Section 7.4 of the Transfer Agreement, as if fully set forth herein, mutatis mutandis):mutandis):‌‌ (a) The Company will not use, or permit the use by its agents, successors or assigns or any Ownership Entity of, any name or combination of letters that is similar to "FDIC" or "Federal Deposit Insurance Corporation." The Company will not represent or imply, and will ensure that no Ownership Entity represents or implies, that it is affiliated with, authorized by or in any way related to the FDIC except that (i) the Company may reference the FDIC (including in litigation) in connection with ownership issues regarding the Company's acquisition, or the FDIC's retention of assets or liabilities, and (ii) for so long as the FDIC is a Member of the Company, the Company may represent that fact. . (b) (i) Subject to the terms of Section 12.23(b)(ii), the Company will not in any manner assert, plead, use or refer to or describe, and will ensure that no Ownership Entity, in any manner asserts, pleads, or uses, refers to or describes any FDIC Legal Power in any Action or in writing to any third party; provided, however, that this Section 12.23 does not preclude the assertion of, and the Company and the Ownership Entities may assert and claim the benefit of, the statute of limitations established under 12 U.S.C. §1821(d)(14) or any jurisdictional defect or lack of jurisdiction (including under 12 U.S.C. §1821(d)(13)(D)).

Appears in 1 contract

Samples: Private Owner Interest Sale and Assignment Agreement

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Use of the FDIC's Name and FDIC Legal Powers. The Company must comply with, and the Manager must cause the Company to comply with, the following (with any failure to comply being subject to Section 7.4 of the Transfer Agreement, as if fully set forth herein, mutatis mutandis): (a) The Company will not use, or permit the use by its agents, successors or assigns or any Ownership Entity of, any name or combination of letters that is similar to "FDIC" or "Federal Deposit Insurance Corporation." The Company will not represent or imply, and will ensure that no Ownership Entity represents or implies, that it is affiliated with, authorized by or in any way related to the FDIC except that (i) the Company may reference the FDIC (including in litigation) in connection with ownership issues regarding the Company's acquisition, or the FDIC's retention of assets or liabilities, and (ii) for so long as the FDIC is a Member of the Company, the Company may represent that fact. . (b) (i) Subject to the terms of Section 12.23(b)(ii), the Company will not in any manner assert, plead, use or refer to or describe, and will ensure that no Ownership Entity, in any manner asserts, pleads, or uses, refers to or describes any FDIC Legal Power in any Action or in writing to any third party; provided, however, that this Section 12.23 does not preclude the assertion of, and the Company and the Ownership Entities may assert and claim the benefit of, the statute of limitations established under 12 U.S.C. §1821(d)(14) or any jurisdictional defect or lack of jurisdiction (including under 12 U.S.C. §1821(d)(13)(D)).1821(d)(13)(D)).‌‌

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

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