Common use of Membership Termination Clause in Contracts

Membership Termination. In the event of membership termination, the Member or its legal successors and the Bank agree to abide by the terms of this Agreement, but future Bank funding shall cease. Subject to FHFA regulation and policy directives, the former Member agrees to provide or supplement collateral in support of the Subsidy to the Bank until such time that the Subsidy has been fully repaid or the retention period on the housing unit ceases. The former Member agrees to post collateral from time to time in an amount deemed sufficient by the Bank to meet the former Member's outstanding potential liability under the Homeownership Initiatives.

Membership Termination. In the event of membership termination, the Member or its legal successors and the Bank agree to abide by the terms of this Agreement, but future Bank funding shall cease. Subject to FHFA regulation and policy directives, the former Member agrees to provide or supplement collateral in support of the Subsidy to the Bank until such time that the Subsidy has been fully repaid or the retention period on the housing unit ceases. The former Member agrees to post collateral from time to time in an amount deemed sufficient by the Bank to meet the former Member's outstanding potential liability under the Homeownership InitiativesInitiatives Programs.