Common use of Communication with Regulators Clause in Contracts

Communication with Regulators. 4.3.1 Each of the Parties agrees promptly to notify the other Parties of any material regulatory issues or problems relating to the Services. The Parties agree to use all reasonable endeavors to address such issues or problems in order to enable the Parties to comply with Applicable Law. 4.3.2 Each Party shall immediately notify the other Parties if it receives a notification that (i) the CFTC is considering withdrawal of its status as a DCO or DCM, as the case may be, or the New York Department of Financial Services is considering withdrawal of its status as a Trust Company; (ii) any other Governmental Authority is requiring separate registration or regulation of the Warehouse or Warehouse Services or the trading or clearing of Digital Currency Contracts, (iii) the CFTC, New York Department of Financial Services or other Governmental Authority is exercising powers of direction or emergency authority in such a manner that may impact the Services; or (iv) any such authority is considering exercising such powers.