TARP Recipient definition

TARP Recipient means the Partnership and any entity covered by clause (ii) or (iii) of the previous sentence. No later than ninety (90) calendar days after the Closing Date, the General Partner shall (i) cause each TARP Recipient to adopt a Luxury Expense Policy, (ii) provide each such Luxury Expense Policy to UST and (iii) post the text of each such Luxury Expense Policy on the Internet website of (A) one or more members of the General Partner Group or (B) the corporate parent of the General Partner. The General Partner shall cause each TARP Recipient to maintain a Luxury Expense Policy during the term of the Partnership. If, after adopting a Luxury Expense Policy, a TARP Recipient makes any material amendments to such Luxury Expense Policy, within ninety (90) calendar days of the adoption of such amended Luxury Expense Policy, the General Partner shall (i) provide such amended Luxury Expense Policy to UST and (ii) post the text of such amended Luxury Expense Policy on the Internet website of the corporate parent of the General Partner or the member of the General Partner Group, as applicable, if such Person maintains an Internet website.
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TARP Recipient means an entity receiving financial assistance under TARP.
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Examples of TARP Recipient in a sentence

  • Notwithstanding the foregoing, during such time as the Company is a TARP Recipient, if the TARP Requirements would preclude the payment of such bonuses to the Employee (on account of his being an SEO, MHCE, or otherwise), then any bonuses payable hereunder shall be reduced or eliminated to the extent necessary to comply with the TARP Requirements.

  • Furthermore, and notwithstanding anything herein to the contrary, no amount shall be payable under this Section 7(d) if such payment becomes an obligation of the Company and the Bank while the Company is a TARP Recipient during the TARP Period, and the Employee is not permitted to receive those payments under the TARP Requirements (on account of being an SEO, MHCE, or otherwise).

  • Furthermore, and notwithstanding anything herein to the contrary, no amount shall be payable under this Section 7(a) if such payment becomes an obligation of the Company or the Bank while the Company is a TARP Recipient during the TARP Period and the Employee is not permitted to receive those payments under the TARP Requirements (on account of being an SEO, MHCE, or otherwise).

  • The Employee shall be eligible to participate in, and receive benefits under, any other fringe benefit plans or perquisites which are or may become generally available to the Company or the Bank’s executive officers, including but not limited to supplemental retirement, deferred compensation programs, supplemental medical or life insurance plans, physical examinations, financial planning and tax preparation services, except as limited or prohibited under TARP while the Company is a TARP Recipient.

  • The Employee shall be eligible to participate in, and receive benefits under, any other fringe benefit plans or perquisites which are or may become generally available to the Bank's executive officers, including but not limited to supplemental retirement, deferred compensation program, supplemental medical or life insurance plans, physical examinations, financial planning and tax preparation services, except as limited or prohibited under TARP while the Company is a TARP Recipient.

  • So long as the Grantee shall continue to provide substantial services as an employee of the Company (or an affiliated entity that is treated as a TARP Recipient under the TARP Rules), the Award shall not be affected by any change in the Grantee’s duties or position.

  • Any reference to the Corporation shall mean PremierWest Bancorp, PremierWest Bank and any entity that, along with PremierWest Bancorp, would be considered a TARP Recipient as determined pursuant to 31 C.F.R. § 30.2, including, without limitation, PremierWest Bank.

  • Furthermore, notwithstanding the foregoing, if the Participant is age 62 or older on the Date of Grant and provides substantial services and remains in continuous employment with the Company (or an affiliated entity that is treated along with the Company as a TARP Recipient (within the meaning of the TARP Rules)) until the second year anniversary of the Date of Grant, the Shares shall become immediately vested on the second year anniversary of the Date of Grant.