Common use of Obstacles to Regulatory Approval Clause in Contracts

Obstacles to Regulatory Approval. To the best of the knowledge and belief of the executive officers of Uwharrie, no fact or condition relating to Uwharrie (including Uwharrie's record of compliance with the Community Reinvestment Act) exists that may reasonably be expected to prevent or materially impede or delay Uwharrie or Anson from obtaining the regulatory approvals required in order to consummate the transactions described herein, and, if any such fact or condition becomes known to the executive officers of Uwharrie, it promptly (and in any event within three days after obtaining such knowledge) shall communicate such fact or condition to the President of Anson.