Common use of Agreements with Regulatory Authorities Clause in Contracts

Agreements with Regulatory Authorities. Neither Malvern nor any of its Subsidiaries is subject to any cease-and-desist order or enforcement action issued by, or is a party to any formal or informal written agreement, consent decree, or memorandum of understanding with, or is a party to any commitment letter, safety and soundness compliance plan, order of prohibition or suspension or other written statement as described under 12 U.S.C. 1818(u), or similar undertaking to, or is subject to any order or directive by, or has been ordered to pay any civil money penalty by, or has been a recipient of any supervisory letter from, or has adopted any policies, procedures or board resolutions at the request or suggestion of any Regulatory Authority that currently restricts in any material respect the conduct of its business or that in any material manner relates to its capital adequacy, its ability to pay dividends, its credit or risk management policies, its management or its business (each, whether or not set forth in Malvern’s Disclosure Memorandum, a “Malvern Regulatory Agreement”), nor has Malvern or any Malvern Subsidiary been advised in writing or, to Malvern’s Knowledge, orally, since September 30, 2021, by any Regulatory Authority that it is likely to be considering issuing, initiating, ordering, or requesting any such Malvern Regulatory Agreement.

Agreements with Regulatory Authorities. Neither Malvern Reliance nor any of its Subsidiaries is subject to any cease-and-desist order or enforcement action issued by, or is a party to any formal or informal written agreement, consent decree, or memorandum of understanding with, or is a party to any commitment letter, safety and soundness compliance plan, order of prohibition or suspension or other written statement as described under 12 U.S.C. 1818(u), or similar undertaking to, or is subject to any order or directive by, or has been ordered to pay any civil money penalty by, or has been a recipient of any supervisory letter from, or has adopted any policies, procedures or board resolutions at the request or suggestion of any Regulatory Authority that currently restricts in any material respect the conduct of its business or that in any material manner relates to its capital adequacy, its ability to pay dividends, its credit or risk management policies, its management or its business (each, whether or not set forth in MalvernReliance’s Disclosure Memorandum, a “Malvern Reliance Regulatory Agreement”), nor has Malvern Reliance or any Malvern Reliance Subsidiary been advised in writing or, to MalvernReliance’s Knowledge, orally, since September 30December 31, 20212013, by any Regulatory Authority that it is likely to be considering issuing, initiating, ordering, or requesting any such Malvern Reliance Regulatory Agreement.

Agreements with Regulatory Authorities. Neither Malvern Delanco nor any of its Subsidiaries is subject to any cease-and-desist order or enforcement action issued by, or is a party to any formal or informal written agreement, consent decree, or memorandum of understanding with, or is a party to any commitment letter, safety and soundness compliance plan, order of prohibition or suspension or other written statement as described under 12 U.S.C. 1818(u), or similar undertaking to, or is subject to any order or directive by, or has been ordered to pay any civil money penalty by, or has been a recipient of any supervisory letter from, or has adopted any policies, procedures or board resolutions at the request or suggestion of any Regulatory Authority that currently restricts in any material respect the conduct of its business or that in any material manner relates to its capital adequacy, its ability to pay dividends, its credit or risk management policies, its management or its business (each, whether or not set forth in MalvernDelanco’s Disclosure Memorandum, a “Malvern Delanco Regulatory Agreement”), nor has Malvern Delanco or any Malvern Delanco Subsidiary been advised in writing or, to MalvernDelanco’s Knowledge, orally, since September 30December 31, 20212013, by any Regulatory Authority that it is likely to be considering issuing, initiating, ordering, or requesting any such Malvern Delanco Regulatory Agreement.