Common use of Termination or Suspension Under Federal Law Clause in Contracts

Termination or Suspension Under Federal Law. (1) if the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Flagstar Bancorp Inc)

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Termination or Suspension Under Federal Law. (1i) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX4section 8(e)(4) or 8(g)(1or8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 “FDIA”) (12 U.S.C. § 1818(e)(4) and (g)(1g)(l)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Citizens Community Bancorp Inc.)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Extension Agreement (Eagle Bancshares Inc)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 the “FDIA”) (12 U.S.C. §§ 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Fairmount Bancorp, Inc.)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 U.S.C. 1818(e)(4) and (g)(1)“FDIA”), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(18(g)(l) of the Federal Deposit Insurance Act ("FDIA")(12 “FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Patapsco Bancorp Inc)

Termination or Suspension Under Federal Law. (1) if If the Employee -------------------------------------------- is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (HCB Bancshares Inc)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 “FDIA”) (12 U.S.C. §1818(e)(4) and or (g)(1)), all obligations of the Bank under this Agreement shall terminate, terminate as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Hopfed Bancorp Inc)

Termination or Suspension Under Federal Law. (1) if If ------------------------------------------- the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX4Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (Heartland Bancshares Inc)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(3) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(41818(e)(3) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Agreement (Ez Bancorp Inc)

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Termination or Suspension Under Federal Law. (1i) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (River Valley Bancorp)

Termination or Suspension Under Federal Law. (1) if If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4(S)1818(e)(4) and or (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Agreement (Hopfed Bancorp Inc)

Termination or Suspension Under Federal Law. (1) if If the ------------------------------------------- Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: Employment Agreement (First Lancaster Bancshares Inc)

Termination or Suspension Under Federal Law. (1a) if the Employee is If you are removed and/or permanently prohibited from participating in the conduct of the Bank's ’s affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 the “FDIA”) (12 U.S.C. §§ 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but vested rights of the parties shall not be affected.

Appears in 1 contract

Samples: HV Bancorp, Inc.

Termination or Suspension Under Federal Law. (1) if If the Employee is ------------------------------------------- removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Sections 8(eX48(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate, as of the effective date of the order, but . No such order shall affect the vested rights of the parties shall not be affectedparties.

Appears in 1 contract

Samples: Employment Agreement (Ajs Bancorp Inc)

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