Termination by Regulators. All obligations under this Agreement will be terminated, except to the extent determined by the federal bank regulatory agency of any banking subsidiary of the Corporation that continuation of this Agreement is necessary for the continued operation of the banking subsidiary, if (1) the governing federal bank regulatory agency enters into an agreement to provide assistance to or on behalf of a banking subsidiary of the Corporation under the authority contained in Section 13(c) of the FDIA, 12 U.S.C. § 1823(c); or (2) such banking subsidiary of the Corporation is determined by the federal bank regulatory authority to be in an unsafe or unsound condition. However, vested rights of the contracting parties will not be affected.
Appears in 4 contracts
Sources: Change in Control Agreement (First Niagara Financial Group Inc), Change in Control Agreement (First Niagara Financial Group Inc), Change in Control Agreement (First Niagara Financial Group Inc)
Termination by Regulators. All obligations under this Agreement will be terminated, except to the extent determined by the federal bank regulatory agency of any banking subsidiary of the Corporation GLB that continuation of this Agreement is necessary for the continued operation of the banking subsidiary, if (1) the governing federal bank regulatory agency enters into an agreement to provide assistance to or on behalf of a banking subsidiary of the Corporation GLB under the authority contained in Section 13(c) of the FDIA, 12 U.S.C. § 1823(c); or (2) such banking subsidiary of the Corporation GLB is determined by the federal bank regulatory authority to be in an unsafe or unsound condition. However, vested rights of the contracting parties Parties will not be affected.
Appears in 4 contracts
Sources: Employment Agreement (Great Lakes Bancorp, Inc.), Employment Agreement (Great Lakes Bancorp, Inc.), Employment Agreement (Great Lakes Bancorp, Inc.)