Termination by Default. If Employer is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Action (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.
Appears in 7 contracts
Sources: Employment Agreement (United Pan Am Financial Corp), Employment Agreement (United Panam Financial Corp), Employment Agreement (United Panam Financial Corp)
Termination by Default. If Employer the Company is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Action Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.
Appears in 2 contracts
Sources: Employment Agreement (Pacific Capital Bancorp /Ca/), Employment Agreement (CVB Financial Corp)
Termination by Default. If Employer is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Action (12 U.S.C. Section 1813(x)(118133(x)(l)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.
Appears in 1 contract
Termination by Default. If Employer is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Action (12 U.S.C. Section 1813(x)(1)), all obligations under this Amended and Restated Agreement shall terminate as of the date of default, but vested rights of the parties shall not be affected.
Appears in 1 contract
Sources: Employment Agreement (United Pan Am Financial Corp)