Common use of RBI Approval Clause in Contracts

RBI Approval. If, prior to Closing, the Reserve Bank of India approves the Pre- Closing Escrow RBI Application then the Purchaser and the Sellers shall take all necessary steps to implement, or cause the Escrow Agent to implement, the Pre-Closing Escrow Arrangement in accordance with the provisions of the Cash and Securities Escrow Agreement and Clause 2.2.2 (iii) of this Agreement.

RBI Approval. If, prior to Closing, the Reserve Bank of India approves the Pre- Closing Indemnity Escrow RBI Application then the Purchaser and the Sellers shall take all necessary steps to implement, or cause establish the Indemnity Escrow Agent to implement, the Pre-Account with effect from Closing Escrow Arrangement in accordance with the provisions of the Cash and Securities Indemnity Escrow Agreement and Clause 2.2.2 (iii) 2.2.4 of this Agreement.