Common use of Suspension of Obligations Clause in Contracts

Suspension of Obligations. (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Board of Governors of the Federal Reserve, or the Federal Deposit Insurance Corporation, or any other regulatory agency that has supervisory authority over the Employer (any and all referred to herein as “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.

Suspension of Obligations. (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Board of Governors Office of the Federal ReserveComptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance Corporation, or any other regulatory agency that has supervisory authority over the Employer Corporation (any and all referred to herein as “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.

Suspension of Obligations. (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Board of Governors Office of the Federal ReserveComptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance Corporation, or any other regulatory agency that has supervisory authority over the Employer Corporation (any and all referred to herein as a “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.

Suspension of Obligations. (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Federal Reserve Board of Governors of the Federal ReserveGovernors, or the Federal Deposit Insurance Corporation, or any other regulatory agency that has supervisory authority over the Employer Corporation (any and all referred to herein as “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.

Suspension of Obligations. (a) If Employee is suspended from office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Board of Governors Office of the Federal ReserveComptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance Corporation, or any other regulatory agency that has supervisory authority over the Employer Corporation (any and all either referred to herein as a “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.