Common use of Regulatory Approvals and Standards Clause in Contracts

Regulatory Approvals and Standards. Sellers filed within sixty (60) days after the execution of the Original Agreement all necessary applications of Sellers to obtain the Seller Regulatory Approvals. Sellers shall supply to Purchaser, at least five (5) Business Days prior to filing, copies of all proposed regulatory applications and filings (other than the confidential portions thereof) and will use commercially reasonable efforts to reflect any material comments of Purchaser in such filings. As of each Closing Date, Sellers will satisfy any and all of the standards and requirements reasonably within their control imposed as a condition to obtaining or necessary to comply with the Seller Regulatory Approvals. Sellers shall pay any fees charged by any governmental authorities to which they must apply to obtain any of the Seller Regulatory Approvals. Sellers shall not take any action which would adversely affect or delay the ability of any other party hereto to obtain any Regulatory Approval or to perform its covenants and agreements under this Agreement. Sellers shall notify the Purchaser promptly (and in no event later than twenty-four (24) hours following notice) of any significant development with respect to any application or notice filed by Sellers with any governmental authority in connection with the transactions contemplated by this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

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Regulatory Approvals and Standards. Sellers filed (a) Purchaser will use its commercially reasonable efforts to obtain as expeditiously as possible the Regulatory Approvals and will file within sixty thirty (6030) days after the execution of the Original this Agreement all necessary applications of Sellers Purchaser to obtain the Seller Regulatory Approvals. Sellers shall Purchaser will supply to PurchaserSellers, at least five (5) Business Days prior to filing, copies of all proposed regulatory applications and filings (other than the confidential portions thereof) and will use commercially reasonable efforts to reflect any material (30) comments of Purchaser Sellers in such filings. As of each the Closing Date, Sellers Purchaser will satisfy any and all of the standards and requirements reasonably within their its control imposed as a condition to obtaining or necessary to comply with the Seller Regulatory Approvals. Sellers Purchaser shall pay any fees charged by any governmental authorities to which they it must apply to obtain any of the Seller Regulatory Approvals. Sellers Purchaser shall not take any no action which that would adversely affect or delay the ability of any other party hereto to obtain any Regulatory Approval or to perform its covenants and agreements under this Agreement. Sellers Purchaser shall notify the Purchaser Sellers promptly (and in no event later than twenty-four (24) hours following notice) of any significant development with respect to any application or notice filed by Sellers Purchaser files with any governmental authority in connection with the transactions contemplated by this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (1st United Bancorp, Inc.)

Regulatory Approvals and Standards. Sellers filed (a) Purchaser will use its commercially reasonable efforts to obtain as expeditiously as possible the Regulatory Approvals and will file within sixty thirty (6030 days) days after the execution of the Original this Agreement all necessary applications of Sellers Purchaser to obtain the Seller Regulatory Approvals. Sellers shall Purchaser will supply to PurchaserSeller, at least five three (53) Business Days prior to filing, copies of all proposed regulatory applications and filings (other than the confidential portions thereof) and will use commercially reasonable efforts to reflect any material comments of Purchaser Seller in such filings. As of each the Closing Date, Sellers Purchaser will satisfy any normal and all of the standards and usual requirements reasonably within their its control imposed as a condition to obtaining or necessary to comply with the Seller Regulatory Approvals. Sellers Purchaser shall pay any fees charged by any governmental authorities to which they it must apply to obtain any of the Seller Regulatory Approvals. Sellers Purchaser shall not knowingly take any action which would adversely affect or delay the ability of any other party hereto to obtain any Regulatory Approval or to perform its covenants and agreements under this Agreement. Sellers Purchaser shall notify the Purchaser Seller promptly (and in no event later than twenty-four (24) hours one Business Day following notice) of any significant development with respect to any application or notice filed by Sellers Purchaser files with any governmental authority in connection with the transactions contemplated by this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (DNB Financial Corp /Pa/)

Regulatory Approvals and Standards. Sellers filed (a) Purchaser will use its commercially reasonable efforts to obtain as expeditiously as possible the Regulatory Approvals and will file within sixty thirty (6030) days after the execution of the Original this Agreement all necessary applications of Sellers Purchaser to obtain the Seller Regulatory Approvals. Sellers shall Purchaser will supply to PurchaserSellers, at least five (5) Business Days prior to filing, copies of all proposed regulatory applications and filings (other than the confidential portions thereof) and will use commercially reasonable efforts to reflect any material comments of Purchaser Sellers in such filings. As of each the Closing Date, Sellers Purchaser will satisfy any and all of the standards and requirements reasonably within their its control imposed as a condition to obtaining or necessary to comply with the Seller Regulatory Approvals. Sellers Purchaser shall pay any fees charged by any governmental authorities to which they it must apply to obtain any of the Seller Regulatory Approvals. Sellers Purchaser shall not take any no action which that would adversely affect or delay the ability of any other party hereto to obtain any Regulatory Approval or to perform its covenants and agreements under this Agreement. Sellers Purchaser shall notify the Purchaser Sellers promptly (and in no event later than twenty-four (24) hours following notice) of any significant development with respect to any application or notice filed by Sellers Purchaser files with any governmental authority in connection with the transactions contemplated by this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Cib Marine Bancshares Inc)

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Regulatory Approvals and Standards. Sellers filed shall use commercially reasonable efforts to obtain as expeditiously as possible the Seller Regulatory Approvals and will file within sixty (60) days after the execution of the Original this Agreement all necessary applications of Sellers to obtain the Seller Regulatory Approvals. Sellers shall supply to Purchaser, at least five (5) Business Days prior to filing, copies of all proposed regulatory applications and filings (other than the confidential portions thereof) and will use commercially reasonable efforts to reflect any material comments of Purchaser in such filings. As of each the Closing Date, Sellers will satisfy any and all of the standards and requirements reasonably within their control imposed as a condition to obtaining or necessary to comply with the Seller Regulatory Approvals. Sellers shall pay any fees charged by any governmental authorities to which they must apply to obtain any of the Seller Regulatory Approvals. Sellers shall not take any action which would adversely affect or delay the ability of any other party hereto to obtain any `Regulatory Approval or to perform its covenants and agreements under this Agreement. Sellers shall notify the Purchaser promptly (and in no event later than twenty-four (24) 24 hours following notice) of any significant development with respect to any application or notice filed by Sellers with any governmental authority in connection with the transactions contemplated by this Agreement.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

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