Common use of Exchange Control Obligations Clause in Contracts

Exchange Control Obligations. The Participant is solely responsible for complying with applicable exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. As the Exchange Control Regulations change frequently and without notice, the Participant should consult the Participant’s legal advisor prior to the acquisition or sale of Shares under the Plan to ensure compliance with current Exchange Control Regulations. Neither the Company nor any of its subsidiaries shall be liable for any fines or penalties resulting from the Participant’s failure to comply with applicable laws, rules or regulations. SPAIN

Exchange Control Obligations. The Participant is solely responsible for complying with applicable South African exchange control regulations. Since the exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. As the Exchange Control Regulations change frequently and without notice, the Participant should consult the Participant’s his or her legal advisor prior to the acquisition or sale of Shares the shares of Common Stock under the Plan to ensure compliance with current Exchange Control Regulationsregulations. Neither As noted, it is the Participant’s responsibility to comply with South African exchange control laws, and neither the Company nor any of its subsidiaries shall the Employer will be liable for any fines or penalties resulting from the Participant’s failure to comply with applicable laws, rules or regulations. SPAIN.

Exchange Control Obligations. The Participant is solely responsible for complying with applicable exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. As the Exchange Control Regulations change frequently and without notice, the Participant should consult the Participant’s legal advisor prior to the acquisition or sale of Shares under the Plan to ensure compliance with current Exchange Control Regulations. Neither the Company nor any of its subsidiaries shall Subsidiaries or affiliates will be liable for any fines or penalties resulting from the Participant’s failure to comply with applicable laws, rules or regulations. SPAIN.

Exchange Control Obligations. The Participant is solely responsible for complying with applicable exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. As the Exchange Control Regulations change frequently and without notice, the Participant should consult the Participant’s legal advisor prior to the acquisition or sale of Shares shares of Common Stock under the Plan to ensure compliance with current Exchange Control Regulations. Neither the Company nor any of its subsidiaries shall Subsidiaries or affiliates will be liable for any fines or penalties resulting from the Participant’s failure to comply with applicable laws, rules or regulations. SPAIN.

Exchange Control Obligations. The Participant solely is solely responsible for complying with applicable exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. As the Exchange Control Regulations change frequently and without notice, the Participant should consult the Participant’s with his or her legal advisor prior to the acquisition or sale of Shares under the Plan to ensure compliance with current Exchange Control Regulations. Neither Valvoline, its Subsidiaries nor the Company nor any of its subsidiaries shall Employer will be liable for any fines or penalties resulting from the Participant’s failure to comply with the Exchange Control Regulations and applicable laws, rules or regulations. SPAIN