Common use of THREAT OF REGULATORY ACTION Clause in Contracts

THREAT OF REGULATORY ACTION. The Company and the Representative agree to advise each other immediately and confirm in writing the receipt of any threat of or the initiation of any steps or procedures which would impair or prevent the right to offer the Securities or the issuance of any "suspension orders" or other prohibitions preventing or impairing the proposed offering of the Securities. In the case of the happening of any such event, neither the Company nor the members of the Underwriting Group will acquiesce in such steps, procedures or suspension orders and each party agrees to actively defend any such actions or orders unless all parties agree in writing to acquiesce in such actions or orders.

THREAT OF REGULATORY ACTION. The Company and the Representative Representa- tive agree to advise each other immediately and confirm in writing the receipt of any threat of or the initiation of any steps or procedures which would impair or prevent the right to offer the Securities or the issuance of any "suspension orders" or other prohibitions preventing or impairing the proposed offering of the Securities. In the case of the happening of any such event, neither the Company nor the members of the Underwriting Group will acquiesce in such steps, procedures or suspension orders and each party agrees to actively defend any such actions or orders unless all parties agree in writing to acquiesce in such actions or orders.