Common use of State Regulatory Approval Clause in Contracts

State Regulatory Approval. Promptly after the date of this Agreement, but no later than thirty (30) days after the date hereof, Buyer and Seller shall use commercially reasonable efforts to file the appropriate applications and notices with the Commission seeking orders permitting the transfer of service in the Seller Exchanges to Buyer (collectively, the "Regulatory Approvals"). Buyer shall be responsible for seeking to establish the tariff for its post-Closing operations in the Seller Exchanges. Each of Buyer and Seller shall use its commercially reasonable efforts to obtain the Regulatory Approvals and the parties agree to cooperate fully with each other and with the applicable regulatory agency to obtain the Regulatory Approvals at the earliest practicable date. In the event the Commission imposes any condition, term or restriction as more particularly described in clauses (a) and (b) of Section 6.3.2, each of Buyer and Seller shall use its commercially reasonable efforts to seek modification or removal of such condition such that the Regulatory Approvals shall conform to the standards set forth in Section 6.3.2.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Centurytel Inc), Asset Purchase Agreement (Verizon South Inc)

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State Regulatory Approval. Promptly after the date of this Agreement, but no later than thirty (30) days after the date hereof, Buyer and Seller Sellers shall use commercially reasonable efforts to file the appropriate applications and notices with the Commission seeking orders permitting the transfer of service in the Seller Exchanges to Buyer (collectively, the "Regulatory Approvals"). Buyer shall be responsible for seeking to establish the tariff for its post-Closing operations in the Seller Exchanges. Each of Buyer and Seller Sellers shall use its commercially reasonable efforts to obtain the Regulatory Approvals and the parties agree to cooperate fully with each other and with the applicable regulatory agency to obtain the Regulatory Approvals at the earliest practicable date. In the event the Commission imposes any condition, term or restriction as more particularly described in clauses (a) and (b) of Section 6.3.2, each of Buyer and Seller Sellers shall use its commercially reasonable efforts to seek modification or removal of such condition such that the Regulatory Approvals shall conform to the standards set forth in Section 6.3.2.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Centurytel Inc), Asset Purchase Agreement (Verizon South Inc)

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