Common use of No Consents or Conflicts Clause in Contracts

No Consents or Conflicts. The execution, delivery and performance by such Brooklyn Party of this Agreement and the consummation by such Brooklyn Party of the transactions contemplated hereby: (a) require no consent, waiver, agreement or approval of any Person, except for approval by the NBA and NBA Properties (“NBAP”), which approval is being obtained contemporaneously with the execution of this Agreement, and (b) do not and will not (1) conflict with or violate any provision of the certificate of formation or operating agreement of such Brooklyn Party, (2) contravene or conflict with or constitute a violation of any provision of any Law binding upon or applicable to such Brooklyn Party, or (3) result in a violation or breach of, or constitute (with or without notice or lapse of time or both) a default under any of the terms, conditions or provisions of any material note, bond, mortgage, indenture, lease, license, contract, agreement or other instrument or obligation to which such Brooklyn Party is a party or any of its respective properties or assets may be bound, which conflict would prevent such Brooklyn Party’s ability to perform its obligations hereunder; provided, that the Parties acknowledge that the Arena as a venue for NJ Basketball “home” NBA games, the relocation of NJ Basketball to the Arena, and the Arena Lease are subject to NBA approval.