Be happy the clock is still ticking. Relax...........
4/29/08 - Day 325
Considerations in “Stopping the Clock”
The Commission may “stop the clock,” that is, suspend its informal calendar, when the Commission’s ability to process and review the merits of an application is impeded by justifiable delay, the parties’ actions, or external events. Stopping the clock in such circumstances is intended to provide a more accurate picture of the time the Commission finds necessary to process a particular transaction. Stopping the clock does not itself delay a decision in a proceeding; it merely reflects that a decision could be delayed as a result of some external factor. When this occurs, we endeavor to send the parties a letter explaining our reason for stopping the clock and posting that letter on the web page. In our experience, the following are common, but non-exhaustive, examples of reasons for stopping the clock:
The Commission extends the time for filing pleadings.
The Applicants do not respond to a request for information within a stated time period.
The Commission finds it appropriate to await resolution of issues pending before the relevant U.S. law enforcement or national security agencies.
The Commission receives significant new information about an application, or the parties file a substantial amendment to the application.
If the Commission stops the clock, it generally will restart it as soon as the event justifying its stoppage has been resolved such that the Commission’s review process is no longer impeded. On rare occasions the clock may be reset to a prior date.