FDIA Sample Clauses
The FDIA clause refers to provisions that address the application of the Federal Deposit Insurance Act to the agreement or relationship in question. Typically, this clause clarifies how certain rights, obligations, or remedies may be affected if a party is a depository institution subject to FDIA, such as in the event of insolvency or receivership. For example, it may specify that certain contractual rights are limited or suspended if the FDIC takes over a bank. The core function of this clause is to ensure compliance with federal banking regulations and to allocate risk in scenarios where the FDIA could impact the enforceability of contractual terms.
FDIA. If a party hereto is an “insured depository institution,” as such term is defined in the Federal Deposit Insurance Act, as amended (“FDIA”), then each Transaction hereunder is a “qualified financial contract,” as that term is defined in FDIA and any rules, orders or policy statements thereunder (except insofar as the type of assets subject to such Transaction would render such definition inapplicable).
FDIA. The Federal Deposit Insurance Act of 1933, as amended from time to time, and the regulations promulgated pursuant thereto.