Required Regulatory Provisions Contract Clauses (32)

Grouped Into 3 Collections of Similar Clauses From Business Contracts

This page contains Required Regulatory Provisions clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Required Regulatory Provisions. A. Notwithstanding anything herein contained to the contrary, any payments to the Executive by the Bank, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. 1828(k), and any other applicable statutes and applicable regulations promulgated thereunder. Nothing in this Agreement shall be construed to subject the Bank or its assets to any contractual obligations undertaken by the Comp...any hereunder or to liability for any breach by the Company. 16 B. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1), the Bank'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 Bank may in its discretion (i) pay Executive all or part of the compensation withheld while its obligations under this Agreement were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. C. If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the parties shall not be affected. D. If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 20(D) shall not affect any vested rights of the parties hereunder. E. 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: (i) by the Director ("Director") of the Federal Deposit Insurance Corporation ("FDIC") or his or her designee, at the time the FDIC or Resolution Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act; or (ii) by the Director of the FDIC or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. View More
Found in HCBF Holding Company, Inc. contract
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Required Regulatory Provisions. A. Notwithstanding anything herein contained to (a) The Board of Directors may terminate the contrary, Executive's employment at any payments to the Executive time, but any termination by the Bank, whether pursuant Board of Directors, other than Termination for Cause, shall not prejudice the Executive's right to compensation or other benefits under this Agreement Agreement. The Executive shall not have the right to receive compensation or otherwise, are subject to and conditioned upon their comp...liance with section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. 1828(k), and any other applicable statutes and applicable regulations promulgated thereunder. Nothing in this Agreement shall be construed to subject the Bank or its assets to any contractual obligations undertaken by the Company hereunder or to liability benefits for any breach by the Company. 16 B. period after Termination for Cause as defined in Section 3 hereinabove. (b) If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1), ("FDIA"), the Bank's obligations under this the Agreement shall be suspended as of the date of service service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may may, in its discretion discretion, (i) pay Executive all or part of the compensation withheld while its contract obligations under this Agreement were suspended, suspended and (ii) reinstate (in whole or in part) any of its obligations which that were suspended. C. 4 (c) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), FDIA, all obligations of the Bank under this the Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. D. (d) If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), FDIA), all obligations under this Agreement shall terminate as of the date of default, but this Section 20(D) paragraph shall not affect any vested rights of the parties hereunder. E. parties. (e) All obligations under this Agreement shall be terminated, except terminated (except to the extent determined that continuation of this the Agreement is necessary for the continued operation of the Bank: Bank): (i) by the Director ("Director") Board of Governors of the Federal Reserve System ("FRB") or its successor as the principal federal bank regulatory agency for the Bank ("Successor Agency") at the time the Federal Deposit Insurance Corporation ("FDIC") or his or her designee, at the time the FDIC or Resolution Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act; FDIA or (ii) by the Director of the FDIC FRB or his or her designee, Successor Agency at the time the Director FRB or his or her designee Successor Agency approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director FRB or Successor Agency to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. (f) Any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with Section 18(k) of the FDIA and any regulations promulgated thereunder. View More
Found in Eagle Bancorp Montana, Inc. contract
Required Regulatory Provisions. A. Notwithstanding anything herein contained 12.1 The Bank may terminate Executive's employment at any time, but any such termination shall be subject to the contrary, any payments to the Executive by the Bank, whether pursuant to terms of this Agreement or otherwise, are subject to and conditioned upon their compliance with section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. 1828(k), and any other applicable statutes and applicable regulations promulgated thereunder. Nothing in this A...greement shall be construed to subject the Bank or its assets to any contractual obligations undertaken by the Company hereunder or to liability for any breach by the Company. 16 B. Agreement. 12.2 If Executive Employee is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3) (12 U.S.C. 1818(e)(3)) or (g)(1) 8(g)(1) (12 U.S.C. 1818(g)(1)) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1), Act, the Bank's obligations under this Agreement shall be suspended as of the date of service service, unless stayed by in appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay Executive Employee all or part of the compensation withheld payment withheld, if any, while its contract obligations under this Agreement were suspended, suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended. C. suspended, if any. 12.3 If Executive Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) (12 U.S.C. 1818(e)(4)) or (g)(1) 8(g)(1) (12 U.S.C. 1818(g)(1)) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), insurance Act, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. D. 12.4 If the Bank is in default (as as defined in Section 3(x)(1) (12 U.S.C. 1818(x)(1)) of the Federal Deposit Insurance Act), Act, all obligations of the Bank under this Agreement shall terminate as of the date of default, but this Section 20(D) paragraph shall not affect any vested rights of the parties hereunder. E. contracting parties. 12.5 All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement the contract is necessary for the continued operation of the Bank: Bank, (i) by the Director ("Director") Office of the Federal Deposit Insurance Corporation ("FDIC") Comptroller of the Currency or his or her designee, at the time the FDIC or Resolution Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) (12 U.S.C. 1823(c)) of the Federal Deposit Insurance Act; or (ii) by the Director of the FDIC or his or her designee, designee at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 12.6 Notwithstanding anything herein contained to the contrary, any payments to Employee by the Bank, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. 12.7 Notwithstanding anything else in this Agreement, Employee's employment shall not be deemed to have been terminated unless and until the Employee has a Separation from Service within the meaning of Section 409A of the Code. For purposes of this Agreement, a "Separation from Service" shall have occurred if the Bank and Employee reasonably anticipate that either no further services will be performed by the Employee after the date of the termination (whether as an employee or as an independent contractor) or the level of further services performed will be less than 50% of the average level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent with Treasury Regulation Section 1.409A 1(h)(ii). If Employee is a "Specified Employee," as defined in Code Section 409A and any payment to be made under this Agreement shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Employee's Separation from Service. View More
Found in Cheviot Financial Corp. contract
Required Regulatory Provisions. A. Notwithstanding anything herein contained to the contrary, any payments to the Executive by the Bank, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. 1828(k), and any other applicable statutes and applicable regulations promulgated thereunder. Nothing in this Agreement shall be construed to subject the Bank or its assets to any contractual obligations undertaken by the Comp...any hereunder or to liability for any breach by the Company. 16 B. (a) If Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3) (12 U.S.C. §1818(e)(3)) or (g)(1) 8(g)(1) (12 U.S.C. §1818(g)(1)) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1), Act, the Bank's obligations under this Agreement shall be suspended as of the date of service service, unless stayed by in appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay Executive all or part of the compensation withheld while its contract obligations under this Agreement were suspended, suspended and (ii) reinstate (in whole or in part) any of its obligations which that were suspended. C. (b) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) (12 U.S.C. §1818(e)(4)) or (g)(1) 8(g)(1) (12 U.S.C. §1818(g)(1)) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), insurance Act, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. D. (c) If the Bank is in default (as as defined in Section 3(x)(1) (12 U.S.C. §1818(x)(1)) of the Federal Deposit Insurance Act), Act, all obligations of the Bank under this Agreement shall terminate as of the date of default, but this Section 20(D) paragraph shall not affect any vested rights of the parties hereunder. E. contracting parties. (d) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement the contract is necessary for the continued operation of the Bank: Bank, (i) by the Director ("Director") of the Federal Deposit Insurance Corporation ("FDIC") OTS or his or her designee, at the time the FDIC or Resolution Trust Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) (12 U.S.C. §1823(c)) of the Federal Deposit Insurance Act; or (ii) by the Director of the FDIC or his or her designee, designee at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. (e) Notwithstanding anything herein contained to the contrary, any payments to Executive by the Bank, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. (f) Notwithstanding anything else in this Agreement, Executive's employment shall not be deemed to have been terminated unless and until the Executive has a Separation from Service within the meaning of Section 409A of the Code. For purposes of this Agreement, a "Separation from Service" shall have occurred if the Bank and Executive reasonably anticipate that either no further services will be performed by the Executive after the date of the termination (whether as an employee or as an independent contractor) or the level of further services performed will be less than 50% of the average level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent with Treasury Regulation Section 1.409A-1(h)(ii). If Executive is a "Specified Employee," as defined in Code Section 409A and any payment to be made under this Agreement shall be determined to be subject to Code Section 409A, then if required by Code Section 409A, such payment or a portion of such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Executive's Separation from Service. 7 13. Survival of Certain Provisions. Upon any termination of the Executive's employment with the Bank or the termination of this Agreement, other than within 12 months following a Change in Control, the Executive and Bank hereby expressly agree that the provisions of Section 11 of this Agreement will continue to be in full force and effect and binding upon the Executive in accordance with the provisions of Section 11. View More
Found in Wolverine Bancorp, Inc. contract
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Required Regulatory Provisions. This agreement and any severance payment hereunder shall be subject to the requirements of Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. § 1828(k) and the FDIC's Golden Parachute Regulation, 12 C.F.R. Part 359.
Found in Berkshire Hills Bancorp, Inc. contract
Required Regulatory Provisions. This agreement and any severance payment hereunder shall be subject to the requirements of Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. § 1828(k) and the FDIC's Golden Parachute Regulation, 12 C.F.R. Part 359.
Found in Berkshire Hills Bancorp, Inc. contract
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Required Regulatory Provisions. Notwithstanding anything herein contained to the contrary, any payments to the Executive by TRCB, whether pursuant to this Amendment Agreement or otherwise, are subject to and conditioned upon its compliance with section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and any regulations promulgated thereunder.
Found in TWO RIVER BANCORP contract
Required Regulatory Provisions. Notwithstanding anything herein contained to the contrary, any payments to the Executive by TRCB, the Employer, whether pursuant to this Amendment Agreement or otherwise, are subject to and conditioned upon its their compliance with section 18(k) of the Federal Deposit Insurance Act, Act ("FDI Act"), 12 U.S.C. Section 1828(k), and any regulations promulgated thereunder.
Found in Fox Chase Bancorp Inc contract
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