Common use of Lack of Restrictions Clause in Contracts

Lack of Restrictions. No real property owned, leased, licensed, or used by IPC lies in the area which is, or to the knowledge of IPC will be, subject to zoning, use, or building code restriction which would prohibit, and no state of facts relating to the actions of another person or entity or its ownership, leasing, licensing, or use of any real or personal property exists or will exist which would prevent, the continued effective ownership, leasing, licensing, or use of such real property in the business in which IPC is engaged or the business in which they contemplate engaging.