Common use of Receipt of Regulatory Approval Clause in Contracts

Receipt of Regulatory Approval. Borrower shall obtain any requisite approval of the Federal Reserve or other regulatory approval, and Lenders shall have no responsibility to verify whether Borrower has obtained any requisite approval of the Federal Reserve or other regulatory approval, for the payment of principal (including payment at maturity or prepayment prior to maturity). Borrower shall use commercially reasonable efforts to seek and maintain any and all regulatory or other approvals necessary to allow Borrower to make each scheduled interest payment on the Term Loan.