OTS Application definition
Examples of OTS Application in a sentence
In connection with the Conversion, the Reorganization and the Offering, the Parties have filed with the Office of Thrift Supervision (the "OTS") the required applications and amendments thereto to complete the Conversion, the Reorganization, the Offering and any other actions which require the approval of the OTS (such applications, as they may be amended, supplemented or modified from and after the date hereof (the "OTS Application"), in compliance with all applicable laws and regulations).
As contemplated by the OTS Application, --------------------------- upon satisfaction of all State Licensing Requirements and the complete transition of the origination and production of Eligible Loans from the Bank to the Mortgage Company, the Bank will purchase Eligible Loans which the Bank has underwritten prior to their funding by the Mortgage Company, subject to an option on the part of the Mortgage Company to repurchase such loans.
Effective July 1, 1997, Bank has distributed, by way of dividend to its parent, all of the issued and outstanding shares of capital stock of the Mortgage Company, as contemplated by that certain letter of January 28, 1997 submitted to the Office of Thrift Supervision ("OTS"), in connection with the Bank's letter application, dated January 27, 1997, to establish the Mortgage Company as an operating subsidiary on an interim basis (the "OTS Application").
To such counsel's Actual Knowledge, no person has sought to obtain regulatory or judicial review of the final action of the OTS approving the Plan, the OTS Application or the Prospectus.
The information furnished or to be furnished by Seller to Purchaser for the purpose of enabling Purchaser to complete and file the OTS Application is or will be true and correct in all material respects as of the date so furnished and Seller will promptly bring to Purchaser's attention any untruth, inaccuracy or omission thereafter arising or discovered.
The OTS Application was approved in writing by the OTS on ______, 2004.
To the best knowledge of the Kaiser Parties, no person has sought to obtain review of the final action of the OTS in approving the Plan or the OTS Application pursuant to applicable statutes or regulations.
The Kaiser Parties will furnish promptly to the Agent and its counsel copies of all correspondence from the OTS with respect to the OTS Application and the Kaiser Parties' responses thereto.
Purchaser shall prepare and deliver the proposed form of the OTS Application to Seller for review and comment as soon as reasonably practicable, but in no event later than twenty (20) Business Days after the date hereof; provided that said period shall be extended to the extent Seller has not provided information reasonably requested by Purchaser for purposes of the OTS Application.
The parties shall use their best efforts to agree as to the form of and to file the OTS Application as soon as reasonably practicable thereafter.