Common use of Obstacles to Regulatory Approval Clause in Contracts

Obstacles to Regulatory Approval. To the Best Knowledge of CNB, there exists no fact or condition (including without limitation Community's record of compliance with the Community Reinvestment Act) that may reasonably be expected to prevent or materially impede or delay MFC or CNB from obtaining the regulatory approvals required in order to consummate the transactions described in this Agreement; and if any such fact or condition becomes known to CNB, CNB shall promptly (and in any event within three days after obtaining such Knowledge) give notice of such fact or condition to MFC in the manner provided herein.