Common use of Regulatory Oversight Clause in Contracts

Regulatory Oversight. Each of the Departments shall maintain independent regulatory oversight over the Company’s compliance with the terms of this Agreement and in furtherance thereof, Prudential agrees to the following: a. For a period of thirty-six (36) months following the Effective Date, the Company shall provide to the Lead Departments quarterly reports on the implementation and execution of the requirements of this Agreement. Each report shall be delivered to each of the Lead Departments within forty five (45) days following the end of the applicable reporting period. b. The Company may petition a Department to terminate or modify this Agreement in that state. Such a petition may include, but not be limited to, the following grounds: (i) the Agreement’s terms, in whole or in part, are inconsistent with the statutes, rules or regulations then in effect in that state; (ii) that a Future Settlement Agreement with a company possessing substantial market share is more favorable than the Agreement; or (iii) Future Settlement Agreements have not been entered into with companies possessing substantial market share. A Department will not unreasonably withhold its consent to the relief requested by the Company in its petition. Once made by the Company, the Multi-State Examination Payment, as allocated to each Department, is final and non-recoverable under any circumstances including the termination of this Agreement. c. In addition to the payments set forth in Section 3, the reasonable costs and expenses of the Departments related to the monitoring of the Company’s compliance with the Agreement, including the costs and expenses of conducting any reviews or examinations permitted by the Agreement, as well as participating in any meetings, presentations or discussions with the Company, shall be borne by the Company. d. The monitoring of Company for compliance with the terms of this Agreement constitutes an ongoing examination by each of the Departments pursuant to each of their respective state laws. Consistent with applicable law, each Department shall accord confidential treatment to the work papers, recorded information, documents, copies of work papers, and documents produced by, obtained by or disclosed by Company.

Regulatory Oversight. Each of the Departments Signatory States shall maintain independent regulatory oversight over the Company’s compliance with the terms of this Agreement and in furtherance thereof, Prudential the Company agrees to the following: a. For a period of thirty-six (36) months following the Effective Date, the Company shall provide to the Lead Departments States quarterly reports on the implementation and execution of the requirements of this Agreement. Each quarterly report shall be delivered to each of the Lead Departments within forty five forty-five b. Thirty-Nine (4539) days months following the end of Effective Date the applicable reporting period. b. The Company may petition Lead States shall conduct a Department to terminate or modify this Agreement in that state. Such a petition may include, but not be limited to, the following grounds: (i) the Agreement’s terms, in whole or in part, are inconsistent with the statutes, rules or regulations then in effect in that state; (ii) that a Future Settlement Agreement with a company possessing substantial market share is more favorable than the Agreement; or (iii) Future Settlement Agreements have not been entered into with companies possessing substantial market share. A Department will not unreasonably withhold its consent to the relief requested by the Company in its petition. Once made by the Company, the Multi-State Examination Payment, as allocated to each Department, is final and non-recoverable under any circumstances including of Company’s compliance with the termination requirements of this Agreement. The Lead States shall provide a report summarizing the results of that examination to Company and Signatory States. The examination shall be performed with the cost of the examination to be borne by Company in accordance with the Lead States respective laws. c. In addition to the payments set forth in Section 3, the The reasonable costs and expenses of the Departments Signatory States related to the monitoring of the Company’s compliance with the Agreement, including the costs and expenses of conducting any reviews or examinations permitted required by the Agreement, as well as participating in any meetings, presentations or discussions with the Company, shall be borne by the Company. d. The monitoring of Company for compliance with the terms of this Agreement constitutes an ongoing examination by each of the Departments Signatory States pursuant to each of their respective state laws. Consistent with applicable law, each Department Signatory State shall accord confidential treatment to the work papers, recorded information, documents, copies of work papers, and documents produced by, obtained by or disclosed by Company. e. This Agreement does not impair, restrict, suspend, or disqualify Company from engaging in any lawful business in any state, and this Agreement shall not impair or disqualify Company from engaging in any lawful business in any jurisdiction, based upon, or arising out of, the Multi-State Examination regarding any alleged act or omission of Company, unless Company breaches the terms of this Agreement.