No Permits Sample Clauses

The "No Permits" clause establishes that one or both parties are not responsible for obtaining, maintaining, or ensuring the validity of permits, licenses, or governmental approvals required for the activities under the agreement. In practice, this means that if a project or transaction requires official permissions—such as building permits, environmental clearances, or business licenses—the obligation to secure these does not fall on the party protected by this clause. This provision clarifies responsibility and helps prevent disputes by making it clear that the risk and administrative burden of compliance with regulatory requirements rest elsewhere.
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No Permits. No permits, consents, licenses, certificates and authorizations of, or filings with, any governmental or regulatory authorities of the Cayman Islands are required for any of the Transocean Cayman Entities to own or lease its properties and to conduct its business in the manner described in the Time of Sale Prospectus and the Prospectus, other than such permits, consents, licenses, certificates and authorizations currently held or previously obtained. 1. The Company is a limited liability company that has been duly formed and is validly existing in good standing under ▇▇▇▇▇▇▇▇ Islands Law, and has all requisite limited liability company power and authority to own or lease its properties, to enter into the Underwriting Agreement and the Operative Agreements, and to consummate the transactions contemplated thereby, and to conduct its business, in each case in all material respects as described in the Time of Sale Prospectus and the Prospectus. 2. The Selling Unitholder owns of record the Transocean Member Interest (as defined in the LLC Agreement) of the Company. The Transocean Member Interest has been duly authorized and validly issued in accordance with the LLC Agreement, and is fully paid (to the extent required under the LLC Agreement) and nonassessable (except as such nonassessability may be affected by Sections 20, 31, 40 and 49 of the ▇▇▇▇▇▇▇▇ Islands Limited Liability Company Act of 1996 (the “LLCA”) and except as may otherwise be provided in the LLC Agreement). 3. The Selling Unitholder owns of record all of the Incentive Distribution Rights (as defined in the LLC Agreement) of the Company. The Incentive Distribution Rights have been duly authorized and validly issued in accordance with the LLC Agreement, and are fully paid (to the extent required under the LLC Agreement) and nonassessable (except as such nonassessability may be affected by Sections 20, 31, 40 and 49 of the LLCA and except as may otherwise be provided in the LLC Agreement). 4. The Selling Unitholder owns of record [ ] common units of the Company. Such common units and the limited liability company interest represented thereby have been validly issued in accordance with the LLC Agreement, and are fully paid (to the extent required under the LLC Agreement) and nonassessable (except as such nonassessability may be affected by Sections 20, 31, 40 and 49 of the LLCA and except as may otherwise be provided in the LLC Agreement). 5. To our knowledge, except as described in the Time of Sale ...
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No Permits. To such counsel’s knowledge, no permits, consents, licenses, certificates and authorizations of, or filings with, any governmental or regulatory authorities of the Republic of The ▇▇▇▇▇▇▇▇ Islands are required for any of the Teekay Parties or the Operating Subsidiaries set forth in Schedule II and formed in the Republic of The ▇▇▇▇▇▇▇▇ Islands to own or lease its properties and to conduct its business in the manner described in the Registration Statement, the Pricing Disclosure Package and the Prospectus, other than such permits, consents, licenses, certificates and authorizations or filings with any Republic of The ▇▇▇▇▇▇▇▇ Islands governmental authority currently held or previously obtained, applied, received or filed by any of the Teekay Parties or the Operating Subsidiaries set forth in Schedule II and formed in the Republic of The ▇▇▇▇▇▇▇▇ Islands.
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No Permits. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution, delivery and performance by the Company of the Agreements or the consummation by the Company of the transactions contemplated by the Agreements.
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Related to No Permits

  • Company Permits Section 2.10.............13

  • Governmental Permits The Company does, or will prior to the date the Project is Placed in Service, own, hold or possess all licenses, franchises, permits, privileges, immunities, approvals and other authorizations from a governmental body which are necessary to entitle it to own or lease, operate and use its assets located at the Project and to carry on and conduct its business at the Project, including, but not limited to, all required permits or licenses from any state or local governmental agencies and any required certifications from local or national boards or agencies indicating that the business of the Project is being conducted lawfully (herein collectively called “Governmental Permits”). The Company has performed its obligations under each Governmental Permit, or will when Governmental Permits are issued, and no event has occurred or condition or state of facts exists which (i) constitutes, or after notice or lapse of time or both, would constitute a breach or default under any such Governmental Permit, or (ii) permits, or after notice or lapse of time or both, would permit revocation or termination of any such Governmental Permit, or which might adversely affect in any material respect the rights of the Company under any such Governmental Permit. No notice of cancellation, of default or of any dispute concerning any Governmental Permit, or of any event, condition or state of facts described in the preceding sentence, has been received by, or is known to, the Company.

  • Compliance with Laws; Licenses and Permits The Contractor shall comply with all applicable federal, state and local laws, ordinances, regulations, and resolutions. The Contractor shall be responsible for obtaining all licenses and permits necessary to perform the scope of services, at the Contractor’s expense, unless specifically stated otherwise in this Agreement.

  • Governmental Permits and Approvals (a) All approvals, authorizations, consents, permits and licenses from governmental and regulatory bodies required for the transactions contemplated by this Agreement and to permit the business currently carried on by the Corporation to continue to be carried on substantially in the same manner immediately following the Closing Date shall have been obtained and shall be in full force and effect, and Owner shall have been furnished with appropriate evidence, reasonably satisfactory to him, of the granting of such approvals, authorizations, consents, permits and licenses; and (b) There shall not have been any action taken by any court, governmental or regulatory body then prohibiting or making illegal on the Closing Date the transactions contemplated by this Agreement.

  • Compliance with Laws, Contracts, Licenses, and Permits The Borrower and the Subsidiary Guarantors will comply in all respects with (i) all applicable laws and regulations now or hereafter in effect wherever its business is conducted, (ii) the provisions of its corporate charter, partnership agreement, limited liability company agreement or declaration of trust, as the case may be, and other charter documents and bylaws, (iii) all agreements and instruments to which it is a party or by which it or any of its properties may be bound, (iv) all applicable decrees, orders, and judgments, and (v) all licenses and permits required by applicable laws and regulations for the conduct of its business or the ownership, use or operation of its properties, except where a failure to so comply with any of clauses (i) through (v) could not reasonably be expected to have a Material Adverse Effect. If any authorization, consent, approval, permit or license from any officer, agency or instrumentality of any government shall become necessary or required in order that the Borrower or their respective Subsidiaries may fulfill any of its obligations hereunder, the Borrower or such Subsidiary will immediately take or cause to be taken all steps necessary to obtain such authorization, consent, approval, permit or license and furnish the Agent and the Lenders with evidence thereof, except where the failure to obtain the foregoing could not reasonably be expected to have a Material Adverse Effect. The Borrower and the Subsidiary Guarantors shall develop and implement such programs, policies and procedures as are necessary to comply with applicable Anti-Money Laundering Laws and shall promptly advise Agent in writing in the event that the Borrower and the Subsidiary Guarantors shall determine that any investors in Borrower are in violation of such act.