Impact of Regulatory Changes Sample Clauses

Impact of Regulatory Changes. Notwithstanding anything in this Part III to the contrary, Defendants shall not be required to comply with any provision of this Part III should Congress, the Department of Labor, or any other applicable regulatory or self-regulatory body impose substantive requirements that render such compliance unduly burdensome, whether through statute, regulation, guidance, or otherwise (“Regulatory Change”). Defendants shall have the right, at their sole option, to modify any of the commitments described in Sections 3.2 or 3.3 following such a Regulatory Change; provided, however, that, in the event of a Regulatory Change that affects only certain of the provisions of this Part III, Defendants shall be required to continue to comply with all other provisions of Part III that are not affected by the Regulatory Change. In the event of a Regulatory Change, (i) Defendants shall notify Class Counsel about the change and Defendants’ resulting modification, and (ii) Defendants’ compliance with the new regulatory requirements and/or guidance shall be deemed compliant with the terms of this Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Impact of Regulatory Changes. 23 (a) Notwithstanding anything in this Part III to the contrary, Defendants shall 24 not be required to comply with any provision of this Part III should Congress, the 25 Department of Labor, or any other applicable regulatory or self-regulatory body impose 26 substantive requirements that render such compliance unlawful, whether through statute, 27 regulation, guidance, or otherwise (“Regulatory Change”).
Sample 1Sample 2
Impact of Regulatory Changes. (a) Notwithstanding anything in this Section IV to the contrary, Defendants shall not be required to comply with any provision of this Section IV should any change in applicable law render such compliance unlawful or impractical.
Sample 1
Impact of Regulatory Changes. BNZ is subject to financial services laws, regulations, administrative actions and policies in the locations in which it, its parent group and their funding sources operate. Changes in supervision and regulation could materially affect BNZ’s business, the products and services offered or the value of its assets. Although BNZ works closely with its regulators and continually monitors the situation, future changes in regulation, fiscal or other policies can be unpredictable and are beyond the control of BNZ. Governments and other industry participants globally are undertaking a significant amount of further analysis on the underlying factors contributing to recent financial market disturbance and considering possible regulatory and industry responses. Any such regulatory responses implemented may increase the regulatory risk associated with the financial services industry generally and have an impact on the respective operations of BNZ. Governmental and regulatory authorities in New Zealand are implementing measures to increase regulatory control in their respective banking sectors, including imposing enhanced capital requirements or imposing conditions on direct capital injections, funding and liquidity. Such regulatory changes and any future regulatory changes may potentially restrict or interfere with the operations of BNZ and its subsidiaries in the relevant jurisdictions, mandate certain lending activity and impose other compliance costs. It is uncertain how the more onerous regulatory climate will impact financial institutions, including BNZ. Competition in the banking industry BNZ faces competition from both existing financial service providers and new entrants. Customers are able to choose from a number of providers in all of the areas of financial services provided by BNZ, including the residential lending market. Risks that may affect BNZ’s ability to obtain new customers and retain existing customers, thereby affecting the profitability of BNZ, include, but are not limited to, the relative position of BNZ against its competitors in the: (a) pricing and performance of products and services; (b) convenience and ease of access to products and services; (c) level and efficiency of service provided; and (d) ability to develop new products and services to meet the changing needs of customers. Pending proceedings or arbitration Various actions, disputes, arbitrations and legal proceedings, arising from the normal course of business to which members of th...
Sample 1

Related to Impact of Regulatory Changes

  • Regulatory Changes If any legislative, regulatory, judicial or other legal action (other than an Amendment to the Act, which is provided for in Section 29.3) materially affects the ability of a Party to perform any material obligation under this Agreement, a Party may, on thirty (30) days written notice to the other Party (delivered not later than thirty (30) days following the date on which such action has become legally binding), require that the affected provision(s) be renegotiated, and the Parties shall renegotiate in good faith such mutually acceptable new provision(s) as may be required; provided that such affected provisions shall not affect the validity of the remainder of this Agreement.

  • Regulatory Change Without limiting the effect of the provisions of Section 5.01(a), in the event that at any time (by reason of any Regulatory Change or any other circumstances arising after the Closing Date affecting (i) any Lender, (ii) the London interbank market or (iii) such Lender’s position in such market), the Adjusted LIBOR, as determined in good faith by such Lender, will not adequately and fairly reflect the cost to such Lender of funding its LIBOR Loans, then, if such Lender so elects, by notice to the Borrower and the Administrative Agent, the obligation of such Lender to make additional LIBOR Loans shall be suspended until such Regulatory Change or other circumstances ceases to be in effect (in which case the provisions of Section 5.04 shall be applicable).

  • STATUTORY CHANGES All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections.

  • Policy Changes 9 a. NOTICE...............................................................9 b. INCREASES............................................................9 c.

  • REQUIRED REGULATORY PROVISIONS Notwithstanding anything herein contained to the contrary, any payments to the Executive by the Employer, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359.

  • Changes in Capital Adequacy Regulations If a Lender or an Issuer determines the amount of capital required or expected to be maintained by such Lender or such Issuer, any Lending Installation of such Lender or any corporation controlling such Lender or such Issuer is increased as a result of a Change, then, within 15 days of demand by such Lender or such Issuer the Borrower shall pay such Lender or such Issuer the amount necessary to compensate for any shortfall in the rate of return on the portion of such increased capital which such Lender or such Issuer determines is attributable to this Agreement, its Outstanding Credit Exposure or its Commitment (after taking into account such Lender’s or such Issuer’s policies as to capital adequacy). “Change” means (i) any change after the date of this Agreement in (or in the interpretation of) the Risk-Based Capital Guidelines or (ii) any adoption of or change in (or any change in the interpretation of) any other law, governmental or quasi-governmental rule, regulation, policy, guideline, interpretation, or directive (whether or not having the force of law) after the date of this Agreement which affects the amount of capital required or expected to be maintained by any Lender, any Lending Installation or any Issuer or any corporation controlling any Lender or any Issuer. “Risk-Based Capital Guidelines” means (i) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basle Committee on Banking Regulation and Supervisory Practices Entitled “International Convergence of Capital Measurements and Capital Standards,” including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement.

  • Legislative Changes ‌ If the premium paid by the Employer for any employee benefit stipulated in this agreement is reduced as a result of any legislative or other action by the government of British Columbia, the amount of the saving shall be used to increase other benefits available to the employees, as may be mutually agreed to between the parties.

  • CHANGE IN LAWS AND COMPLIANCE WITH LAWS Performing Agency shall comply with all laws, regulations, requirements and guidelines applicable to a vendor providing services and products required by the Contract to the State of Texas, as these laws, regulations, requirements and guidelines currently exist and as amended throughout the term of the Contract. System Agency reserves the right, in its sole discretion, to unilaterally amend the Contract to incorporate any modifications necessary for System Agency’s compliance, as an agency of the State of Texas, with all applicable state and federal laws, regulations, requirements and guidelines.

  • Economic Uniformity; Changes in Law (A) At the election of the General Partner with respect to any taxable period ending upon, or after, the termination of the Subordination Period, all or a portion of the remaining items of Partnership gross income or gain for such taxable period, after taking into account allocations pursuant to Section 6.1(d)(iii), shall be allocated 100% to each Partner holding Subordinated Units that are Outstanding as of the termination of the Subordination Period (“Final Subordinated Units”) in the proportion of the number of Final Subordinated Units held by such Partner to the total number of Final Subordinated Units then Outstanding, until each such Partner has been allocated an amount of gross income or gain that increases the Capital Account maintained with respect to such Final Subordinated Units to an amount that after taking into account the other allocations of income, gain, loss and deduction to be made with respect to such taxable period will equal the product of (A) the number of Final Subordinated Units held by such Partner and (B) the Per Unit Capital Amount for a Common Unit. The purpose of this allocation is to establish uniformity between the Capital Accounts underlying Final Subordinated Units and the Capital Accounts underlying Common Units held by Persons other than the General Partner and its Affiliates immediately prior to the conversion of such Final Subordinated Units into Common Units. This allocation method for establishing such economic uniformity will be available to the General Partner only if the method for allocating the Capital Account maintained with respect to the Subordinated Units between the transferred and retained Subordinated Units pursuant to Section 5.5(c)(ii) does not otherwise provide such economic uniformity to the Final Subordinated Units.

  • Product Changes Vocera shall have the right, in its absolute discretion, without liability to End User, to update to provide new functionality or otherwise change the design of any Product or to discontinue the manufacture or sale of any Product. Vocera shall notify End User at least 90 days prior to the delivery of any Product which incorporates a change that adversely affects form, fit or function (“Material Change”). Vocera shall also notify End User at least 90 days prior to the discontinuance of manufacture of any Product. Notification will be made as soon as reasonably practical for changes associated with regulatory or health and safety issues.

Time is Money Join Law Insider Premium to draft better contracts faster.