Subject to Regulatory Approval. The obligations of the parties hereunder are subject to all required regulatory approvals being obtained.
Subject to Regulatory Approval. The parties hereto acknowledge that the provisions of this Agreement are subject to the approval of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
Subject to Regulatory Approval. This Agreement is subject to and will not become effective until the parties have received all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Subject to Regulatory Approval. The obligations of the parties hereunder are subject to all required regulatory approvals being obtained. Gravitas Special Situations Fund Page 11 of 13 Subscription Agreement for Trust Units
Subject to Regulatory Approval. The parties acknowledge that the Policies are being administered by the Reinsurer based on the transfer of the Policies and related files and data processing system and equipment to the Reinsurer pursuant to the Assumption Agreement which has not been fully consummated and which will be consummated upon the consummation of this Agreement. In the meantime, the parties agree that the Reinsurer's administration of such Policies shall be governed in any case by the provisions of Exhibit 3.1. Moreover, the South Texas Bankers Policies, which are not initially included as a part of the Policies that are the subject of this Agreement but may be subsequently added to such Policies, shall continue to be administered by the Reinsurer, and which administration shall be governed by the provisions of Exhibit 3.1. The parties further acknowledge that this Agreement may be subject to certain regulatory approvals, as well as the approval of Crown Life Insurance Company ("Crown") (an insurance 22 company that has provided certain reinsurance to the Reinsurer in respect to the Policies as of the time when the Assumption Reinsurance Agreement was entered), which approval the parties agree to seek diligently and in good faith. However, in the event such approvals are not received, or if one or more of such approvals contain conditions that modify this Agreement materially and which are unacceptable to either party, then this Agreement shall be subject to rescission in which case the parties shall be restored to the positions they would have had if this transaction had not occurred, recognizing the Reinsurer's entitlement to compensation for administering the Policies in the interim pursuant to Exhibit 3.1 as aforesaid.
