RBI Approval Sample Clauses
The 'RBI Approval' clause requires that certain actions or transactions under the agreement are subject to prior approval from the Reserve Bank of India (RBI). In practice, this means that parties must obtain explicit consent from the RBI before proceeding with activities such as foreign investments, remittances, or other cross-border financial dealings that are regulated by Indian law. This clause ensures compliance with Indian regulatory requirements and mitigates the risk of legal or financial penalties by making the agreement contingent on necessary governmental permissions.
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RBI Approval. If, prior to Closing, the Reserve Bank of India approves the Pre- Closing Escrow RBI Application then the Purchaser and the Sellers shall take all necessary steps to implement, or cause the Escrow Agent to implement, the Pre-Closing Escrow Arrangement in accordance with the provisions of the Cash and Securities Escrow Agreement and Clause 2.2.2 (iii) of this Agreement.
RBI Approval. The Consent of RBI in respect of receipt of consideration for the transfer of Purchased Shares held by any non-resident Indian shall have been obtained in a form satisfactory to the Purchasers and shall remain in full force and effect.
RBI Approval. If, prior to Closing, the Reserve Bank of India approves the Pre- Closing Escrow RBI Application then the Purchaser and the Sellers shall take all necessary steps to implement, or cause the Escrow Agent to implement, the Pre-Closing Private and Confidential Page. 12 Escrow Arrangement in accordance with the provisions of the Cash and Securities Escrow Agreement and Clause 2.2.2 (iii) of this Agreement. Rejection of RBI Application: If the Reserve Bank of India rejects the Pre-Closing Escrow RBI Application, the Pre-Closing Escrow Arrangement shall not be implemented, without prejudice to any other provisions of this Agreement.
RBI Approval. The Borrower shall obtain all approvals and permissions, as may be required, from the RBI under the provisions of Applicable Law relating to availing of external commercial borrowing. The Borrower shall apply to the RBI to obtain a loan registration number for the Facility within 15 (fifteen) days of the date of this Agreement, in accordance with the ECB Guidelines.