Common use of Restrictive Measures Clause in Contracts

Restrictive Measures. Should any competent authority of the European Union or any of its Member States or the United States of America impose restrictive measure affecting the assets of the Strategic Investor, including its Participation in CF which, even though not affecting such Participation, may reasonably be expected to be, directly or indirectly, materially adverse to (i) the business or condition (financial or otherwise) of CF or Pirelli or (ii) the ability of any Party to exercise its rights or perform its obligations under the Shareholders Agreement, then, to the maximum extent legally permitted under any applicable law, the Parties shall negotiate in good faith a solution to overcome the situation in line with the spirit of the provisions set out in the Shareholders Agreement and, to the maximum possible extent, with the objective to pursue the Program. In the event that CF, as a result of the said restrictive measures, has not been able to pursue its corporate purpose for a period of 6 (six) months from the date when the relevant restrictive measures were imposed, any Party shall be entitled to request and obtain the commencement of the Dissolution Procedure and the attribution to the CF Shareholders of their respective Pro-Rata Interest.

Restrictive Measures. Should any competent authority of the European Union or any of its Member States or the United States of America impose restrictive measure affecting the assets of the Strategic Investor, including its Participation in CF which, even though not affecting such Participation, may reasonably be expected to be, directly or indirectly, materially adverse to (i) the business or condition (financial or otherwise) of CF or Pirelli or (ii) the ability of any Party to exercise its rights or perform its obligations under the Shareholders Agreement, then, to the maximum extent legally permitted under any applicable law, the Parties shall negotiate in good faith a solution to overcome the overcomethe situation in line with the spirit of the provisions set out in the Shareholders Agreement and, to the maximum possible extent, with the objective to pursue the Program. In the event that CF, as a result of the said restrictive measures, has not been able to pursue its corporate purpose for a period of 6 (six) months from the date when the relevant restrictive measures were imposed, any Party shall be entitled to request and obtain the commencement of the Dissolution Procedure and the attribution to the CF Shareholders of their respective Pro-Rata Interest.