Common use of REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION Clause in Contracts

REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION. If any regulatory application filed pursuant to Section 5.1(a) hereof should be finally denied or disapproved by the respective Regulatory Agency, then this Agreement thereupon shall be deemed terminated and canceled; provided, however, that a request for additional information or undertaking by PFGI, as a condition for approval, shall not be deemed to be a denial or disapproval so long as PFGI diligently provides the requested information or undertaking. In the event an application is denied pending an appeal, petition for review, or similar such act on the part of PFGI (hereinafter referred to as the "appeal") then the application shall be deemed denied unless PFGI prepares and timely files such appeal and continues the appellate process for purposes of obtaining the necessary approval. PFGI may terminate this Agreement if its Board of Directors shall have reasonably determined in good faith that any of the requisite regulatory approvals imposes a Burdensome Condition, and PFGI shall deliver written notice of such determination to Fidelity not later than thirty (30) days after receipt by PFGI of notice of the imposition of such Burdensome Condition from the applicable Regulatory Agency (unless an appeal of such determination is being pursued by PFGI, in which event the foregoing notice shall be given within thirty (30) days of the termination of any such appeal by PFGI or the denial of such appeal by the appropriate Regulatory Agency).

REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION. If any regulatory application filed pursuant to Section 5.1(a5.01(a) hereof should be finally denied or disapproved by the respective Regulatory Agencyregulatory authority, or not obtained from the respective regulatory authority on or before the date which is nine (9) months following the date hereof, then this Agreement thereupon shall be deemed terminated and canceled; provided, however, that a request for additional information or undertaking by PFGIBanterra, as a condition for approval, shall not be deemed to be a denial or disapproval so long as PFGI Banterra diligently provides the requested information or undertaking. In the event that an application is denied pending an appeal, petition for review, or similar such act on the part of PFGI Banterra (hereinafter referred to as the "appeal") then the application shall be deemed denied unless PFGI Banterra prepares and timely files such appeal and continues the appellate process for purposes of obtaining the necessary approval. PFGI Banterra may terminate this Agreement if its Board of Directors shall have reasonably determined in good faith that any of the requisite regulatory approvals imposes a Burdensome Condition, and PFGI Banterra shall deliver written notice of such determination to Fidelity Heartland not later than thirty five (305) days after receipt by PFGI Banterra of notice of the imposition of such Burdensome Condition from the applicable Regulatory Agency (unless an appeal of such determination is being pursued by PFGIBanterra, in which event the foregoing notice shall be given within thirty (30) days of the termination of any such appeal by PFGI Banterra or the denial of such appeal by the appropriate Regulatory Agency).

REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION. If any regulatory application filed pursuant to Section 5.1(a5.01(a) hereof should be finally denied or disapproved by the respective Regulatory Agencyregulatory authority, then this Agreement thereupon shall be deemed terminated and canceled; providedPROVIDED, howeverHOWEVER, that a request for additional information or undertaking by PFGICNB, as a condition for approval, shall not be deemed to be a denial or disapproval so long as PFGI CNB diligently provides the requested information or undertaking. In the event an application is denied pending an appeal, petition for review, or similar such act on the part of PFGI CNB (hereinafter referred to as the "appeal") then the application shall be deemed denied unless PFGI CNB prepares and timely files such appeal and continues the appellate process for purposes of obtaining the necessary approval. PFGI CNB may terminate this Agreement if its Board of Directors shall have reasonably determined in good faith that any of the requisite regulatory approvals imposes a Burdensome Condition, and PFGI CNB shall deliver written notice of such determination to Fidelity Pinnacle not later than thirty (30) days after receipt by PFGI CNB of notice of the imposition of such Burdensome Condition from the applicable Regulatory Agency (unless an appeal of such determination is being pursued by PFGICNB, in which event the foregoing notice shall be given within thirty (30) days of the termination of any such appeal by PFGI CNB or the denial of such appeal by the appropriate Regulatory Agency).

REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION. If any regulatory application filed pursuant to Section 5.1(a5.01(a) hereof should be finally denied or disapproved by the respective Regulatory Agencyregulatory authority, or not obtained from the respective regulatory authority on or before the date which is nine (9) months following the date hereof, then this Agreement thereupon shall be deemed terminated and canceled; provided, however, that a request for additional information or undertaking by PFGIBanterra, as a condition for approval, shall not be deemed to be a denial or disapproval so long as PFGI Banterra diligently provides the requested information or undertaking. In the event that an application is denied pending an appeal, petition for review, or similar such act on the part of PFGI Banterra (hereinafter referred to as the "appeal") then the application shall be deemed denied unless PFGI Banterra prepares and timely files such appeal and continues the appellate process for purposes of obtaining the necessary approval. PFGI Banterra may terminate this Agreement if its Board of Directors shall have reasonably determined in good faith that any of the requisite regulatory approvals imposes a Burdensome Condition, and PFGI Banterra shall deliver written 29 notice of such determination to Fidelity Heartland not later than thirty five (305) days after receipt by PFGI Banterra of notice of the imposition of such Burdensome Condition from the applicable Regulatory Agency (unless an appeal of such determination is being pursued by PFGIBanterra, in which event the foregoing notice shall be given within thirty (30) days of the termination of any such appeal by PFGI Banterra or the denial of such appeal by the appropriate Regulatory Agency).

REGULATORY APPROVAL DENIAL; BURDENSOME CONDITION. If any regulatory application filed pursuant to Section 5.1(a) 5.1.1 hereof should be finally denied or disapproved by the respective Regulatory Agencyregulatory authority, then this Agreement thereupon shall be deemed terminated and canceled; provided, however, that a request for additional information or undertaking by PFGITrustCo, as a condition for approval, shall not be deemed to be a denial or disapproval so long as PFGI TrustCo diligently provides the requested information or undertaking. In the event that an application is denied pending an appeal, petition for review, or similar such act on the part of PFGI TrustCo (hereinafter referred to as the "appeal") then the application shall be deemed denied unless PFGI TrustCo prepares and timely files such appeal and continues the appellate process for purposes of obtaining the necessary approval. PFGI TrustCo may terminate this Agreement if its Board of Directors shall have reasonably determined in good faith that any of the requisite regulatory approvals imposes a Burdensome Condition, and PFGI TrustCo shall deliver written notice of such determination to Fidelity Landmark not later than thirty (30) days after receipt by PFGI TrustCo of notice of the imposition of such Burdensome Condition from the applicable Regulatory Agency (unless an appeal of such determination is being pursued by PFGITrustCo, in which event the foregoing notice shall be given within thirty (30) days of the termination of any such appeal by PFGI TrustCo or the denial of such appeal by the appropriate Regulatory Agency).