Common use of Compliance with Laws; Policies and Procedures Clause in Contracts

Compliance with Laws; Policies and Procedures. (a) Without limiting any of the other covenants in this Article 4, the Company, shall (i) conduct its business, and otherwise be, in compliance with all applicable laws, regulations, ordinances and orders of any governmental or judicial authorities if the failure to comply thereunder would reasonably be expected to have a Material Adverse Effect; provided, however, that this Section 4.15 shall not require the Company to comply with any such law, regulation, ordinance or order if it shall be contesting such law, regulation, ordinance or order in good faith by appropriate proceedings and reserves in conformity with GAAP have been provided therefor, (ii) comply with all obligations it might have under Anti-Corruption Laws and (iii) comply with all applicable Sanctions imposed on it. (b) The Company shall maintain in effect and enforce policies and procedures intended to ensure compliance by the Company and MBIA Corp. and their respective officers, directors, employees and agents with Anti-Corruption Laws and Sanctions.

Compliance with Laws; Policies and Procedures. (a) Without limiting any of the other covenants in this Article 4, the Company, The Borrower shall (i) conduct its business, and otherwise be, in compliance with all applicable laws, regulations, ordinances and orders of any governmental or judicial authorities if the failure to comply thereunder would reasonably be expected to have a Material Adverse Effect; provided, however, that this Section 4.15 5.10 shall not require the Company Borrower to comply with any such law, regulation, ordinance or order if it shall be contesting such law, regulation, ordinance or order in good faith by appropriate proceedings and reserves in conformity with GAAP have been provided therefor, (ii) comply with all obligations it might have under Anti-Corruption Laws and (iii) comply with all applicable Sanctions imposed on it. (b) The Company Borrower shall maintain in effect and enforce policies and procedures intended to ensure compliance by the Company and MBIA Corp. Borrower and their respective officers, directors, employees and agents with Anti-Corruption Laws and Sanctions.