Common use of No Required Collateral Property Consents, Permits, Etc Clause in Contracts

No Required Collateral Property Consents, Permits, Etc. With respect to existing Buildings, neither the Borrower nor the Guarantors has received any notice of, and has no knowledge of, any approvals, consents, licenses, permits, utility installations and connections (including, without limitation, drainage facilities), curb cuts and street openings, required by applicable laws, rules, ordinances or regulations or any agreement affecting such Collateral Property for the maintenance, operation, servicing and use of the existing Buildings for their intended use which have not been granted, effected, or performed and completed (as the case may be), or any fees or charges therefor which have not been fully paid, or which are no longer in full force and effect. No such approvals, consents, permits or licenses (including, without limitation, any railway siding agreements) will terminate, or become void or voidable or terminable on any foreclosure sale of such Collateral. To the best knowledge of the Borrower and the Guarantors, there are no outstanding notices, suits, orders, decrees or judgments relating to zoning, building use and occupancy, fire, health, sanitation or other violations affecting, against, or with respect to, such Collateral Property or any part thereof. All Governmental Approvals required for the construction of any new Buildings in accordance with their respective plans and specifications have been obtained or will be obtained prior to the commencement of construction of such work, except for those approved by Agent, and all Laws relating to the construction and operation of any new Building have or will be complied with and all permits and licenses required for the operation of the new Building which cannot be obtained until the construction of the new Building is completed can be obtained if the new Building is completed in accordance with its respective plans and specifications.