Common use of Regulatory Approval Clause in Contracts

Regulatory Approval. Each Party reserves its rights with respect to whether this Agreement is subject to Sections 251 and 252 of the Act. In the event the FCC, a state commission or any other governmental authority or agency rejects or modifies any material provision in this Agreement, whether by direct action or by virtue of generic proceedings, including without limitation, any pricing terms, either Party may immediately upon written notice to the other Party terminate this Agreement in whole or in part, including without limitation, with respect to Service in any state. In the event a Party exercises its right to terminate pursuant to this Section 21, the other Party agrees to consent to any regulatory approvals necessary to disconnect any circuits provided pursuant to this Agreement and further agrees to provide any required notice to affected customers within five (5) business days of such notice. If a Party is required by a lawful, binding order to file this Agreement or a provision thereof with the FCC or state regulatory authorities for approval or regulatory review, the filing Party shall provide written notice to the other Party of the existence of such lawful, binding order so that the other Party may seek an injunction or other relief from such order. In addition, the filing Party agrees to reasonably cooperate to amend and make modifications to this Agreement to allow the filing of this Agreement or the specific part of this Agreement affected by the order to the extent reasonably necessary.

Regulatory Approval. Each Party reserves its rights with respect to whether this Agreement is subject to Sections 251 and 252 of the Act. In the event the FCC, a state commission or any other governmental authority or agency rejects or modifies any material provision in this Agreement, whether by direct action or by virtue of generic proceedings, including without limitation, any pricing terms, either Party may immediately upon written notice to the other Party terminate this Agreement in whole or in part, including without limitation, with respect to Service in any state. In the event a Party exercises its right to terminate pursuant to this Section 21, the other Party agrees to consent to any regulatory approvals necessary to disconnect any circuits provided pursuant to this Agreement and further agrees to provide any required notice to affected customers within five (5) business days of such noticein accordance with Applicable Law. If a Party is required by a lawful, binding order to file this Agreement or a provision thereof with the FCC or state regulatory authorities for approval or regulatory review, the filing Party shall provide written notice to the other Party of the existence of such lawful, binding order so that the other Party may seek an injunction or other relief from such order. In addition, the filing Party agrees to reasonably cooperate to amend and make modifications to this Agreement to allow the filing of this Agreement or the specific part of this Agreement affected by the order to the extent reasonably necessary.