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, Office of the Comptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance 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 chargers 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 or any of its subsidiaries’ affairs pursuant to an action brought by the Florida Office of Financial Regulation, Office Board of Governors of the Comptroller of the Currency, Office of Thrift SupervisionFederal Reserve, or the Federal Deposit Insurance Corporation Corporation, or any other regulatory agency that has supervisory authority over the Employer or its subsidiaries (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 chargers 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, Office of the Comptroller of the Currency, Office of Thrift Supervision, or the Federal Deposit Insurance 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 chargers charges of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.