Common use of Regulatory Intervention Clause in Contracts

Regulatory Intervention. In the event that there is any change to any applicable statues, enactment, acts of legislation or parliament, laws, ordinances, rules by laws or regulations of any government or statutory authority in India including but not limited to Ministry of Information and Broadcasting and the Telecom Regulatory Authority or any final unappealable Order of any competent Court or Tribunal which would have a material adverse effect on either of the parties, then the parties of the carriage fee agreement may consult as soon as reasonably practicable with a view to negotiating in good faith an amendment to the existing Agreement, such amendment to take place from the date of such change. In the event the parties are unable to agree on the amendment within forty-five days from the date of meeting then either party may approach TDSAT or TRAI for resolving the dispute.