Common use of Conditions to Obligations of Parties Clause in Contracts

Conditions to Obligations of Parties. The obligations of Surety, Surety Bank, the Directors, First Midlothian and First Bank to cause the Mergers to be consummated shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions, unless such condition shall, on or prior to the Closing Date, have been waived in writing by Surety and First Midlothian: (a) APPROVALS OF THIRD PARTIES. All orders, consents, waivers, and approvals necessary in order for the transactions contemplated hereby to be lawfully accomplished shall have been entered by each regulatory authority having jurisdiction in the premises, including the Comptroller and the Federal Reserve, upon terms and conditions satisfactory to First Midlothian and Surety; all applicable statutory waiting periods shall have expired; and all necessary orders, consents and approvals referred to in SECTION 3(j) and SECTION 4(d) hereof shall have been given by third parties, upon terms and conditions satisfactory to First Midlothian and Surety.