Common use of Material Condition Clause in Contracts

Material Condition. There shall not be any action taken, or ------------------ any statute, rule, regulation or order enacted, entered, enforced or deemed applicable to the Merger by any Regulatory Authority which, in connection with the grant of any Consent by any Regulatory Authority, imposes, in the judgment of Sun, any material adverse requirement upon Sun or any Sun subsidiary, including, without limitation, any requirement that Sun sell or dispose of any significant amount of the assets of Advantage, or any other Sun subsidiary.

Appears in 1 contract

Sources: Merger Agreement (Sun Bancorp Inc /Nj/)

Material Condition. There shall not be any action taken, or any ------------------ any statute, rule, regulation or order enacted, entered, enforced or deemed applicable to the Merger by any Regulatory Authority which, in connection with the grant of any Consent by any Regulatory Authority, imposes, in the judgment of Sun, any material adverse requirement upon Sun or any Sun subsidiarySubsidiary, including, without limitation, any requirement that Sun sell or dispose of any significant amount of the assets of AdvantageCommunity, Community Bank and their respective subsidiaries, or any other Sun subsidiarySubsidiary.

Appears in 1 contract

Sources: Merger Agreement (Community Bancorp of New Jersey)

Material Condition. There shall not be any action taken, or ------------------ any statute, rule, regulation or order enacted, entered, enforced or deemed applicable to the Merger by any Regulatory Authority which, in connection with the grant of any Consent by any Regulatory Authority, imposes, in the judgment of Sun, any material adverse requirement upon Sun or any Sun subsidiarySubsidiary, including, without limitation, any requirement that Sun sell or dispose of any significant amount of the assets of AdvantageCommunity, Community Bank and their respective subsidiaries, or any other Sun subsidiarySubsidiary.

Appears in 1 contract

Sources: Merger Agreement (Sun Bancorp Inc /Nj/)