Common use of Regulatory Action Clause in Contracts

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(l)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Base Salary due and owing under Section 4.1 on the effective date of said order, and reimbursement under Section 4.6 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) FDIA (12 U.S.C. Sections 1818(e)(4) and (g)(lg)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Annual Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.5 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Annual Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.5 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs of the Holding Company or the Bank by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(1)), all obligations of the Employer Bank under this Agreement shall terminate, as of the effective date of such order, except for the payment of Base Salary due and owing under Section 4.1 on the effective date of said order, and reimbursement under Section 4.6 4.5 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s or Company’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(1)), all obligations of the Company or the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.4 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Annual Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.4 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Annual Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.6 of expenses incurred as of the effective date of termination.

Regulatory Action. (a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(l8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(lg)(I)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order, except for the payment of Annual Base Salary due and owing under Section 4.1 3.1 on the effective date of said order, and reimbursement under Section 4.6 3.4 of expenses incurred as of the effective date of termination.