Common use of Use of Special Legal Powers Clause in Contracts

Use of Special Legal Powers. The Receiver may direct usage by the Assuming Institution of any special legal powers of the Receiver or the Corporation. The Assuming Institution shall: Module 1 Whole Bank w/ Optional Shared Loss Agreements Version 3.01 – COMMERCIAL SHARED-LOSS AGREEMENT December 8, ▇▇▇▇ ▇-▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ (i) comply in all respects with any direction from the Receiver or the Corporation and with any protocols, directives or interpretive memoranda issued from time to time by the Receiver or the Corporation; (ii) upon request of the Receiver, notify the Receiver of the status of any legal action in which any special legal power or right is utilized; and (iii) immediately notify the Receiver of any judgment or significant order in any legal action involving any of such special powers or rights.

Use of Special Legal Powers. The Receiver may direct usage by the Assuming Institution of any special legal powers of the Receiver or the Corporation. The Assuming Institution shall: Module 1 Whole Bank w/ Optional Shared Loss Agreements Version 3.01 3.01– COMMERCIAL SHARED-LOSS AGREEMENT December 8April 29, ▇▇▇▇ ▇-▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇ (i) comply in all respects with any direction from the Receiver or the Corporation and with any protocols, directives or interpretive memoranda issued from time to time by the Receiver or the Corporation; (ii) upon request of the Receiver, notify the Receiver of the status of any legal action in which any special legal power or right is utilized; and (iii) immediately notify the Receiver of any judgment or significant order in any legal action involving any of such special powers or rights.