Competition consents Sample Clauses
The Competition Consents clause establishes the requirement for parties to obtain approval or consent from relevant competition authorities before proceeding with certain transactions or agreements. In practice, this clause typically applies to mergers, acquisitions, or joint ventures where antitrust laws may be triggered, and it obligates the parties to cooperate in making necessary filings and responding to regulatory inquiries. Its core function is to ensure that the transaction complies with competition law, thereby preventing delays, penalties, or invalidation due to antitrust concerns.
Competition consents. The European Commission having issued a decision under Council Regulation (EC) No. 139/2004 (the “Merger Regulation”) (or being deemed to have done so under Article 10(6) of the Merger Regulation) declaring the Transaction compatible with the common market and/or, if any aspect of the acquisition is referred to a competent authority of a European Union or EFTA State or more than one such competent authorities under Article 9 of the Merger Regulation, confirmation having been received from each such competent authority that the Transaction may proceed.
Competition consents. 1.1 The receipt of evidence in a form and substance satisfactory to the Purchaser that all filings with the Competition Authorities have been made;
1.2 The issuance of a decision by the German Federal Cartel Office that the transactions contemplated in this Agreement are compatible with the Act against Restraints of Competition of 1958, as amended; or
1.3 If a request to the European Commission is made by the German Federal Cartel Office under Article 22(3) of Council Regulation EC 139/2004 (the “Regulation”) in relation to the transactions contemplated in this Agreement or any part of them and is accepted by the European Commission:
(a) the European Commission issuing a decision pursuant to Article 6(1)(b) of the Regulation in terms satisfactory to the Purchaser, declaring that the transactions contemplated in this Agreement or, if applicable, part of the transactions contemplated in this Agreement are compatible with the common market; or
(b) the transactions contemplated in this Agreement or, if applicable, part of the transactions contemplated in this Agreement, being deemed to have been declared compatible with the common market under Article 10(6) of the Regulation; and
(c) to the extent that one or more Member States retain(s) jurisdiction over any part(s) of the transactions contemplated in this Agreement, clearance from such Member State(s) in relation to such part(s) of the transactions contemplated in this Agreement being obtained in a form and in terms satisfactory to the Purchaser.