Operating Licenses Clause Samples
The Operating Licenses clause requires that a party, typically the service provider or operator, obtains and maintains all necessary licenses, permits, and approvals needed to legally conduct its business operations. In practice, this means the party must ensure compliance with all relevant local, state, and federal regulations, such as business licenses, health and safety permits, or industry-specific authorizations. This clause serves to ensure that the operations are lawful and to protect the other party from liability or disruptions that could arise if proper licenses are not in place.
Operating Licenses. (i) Upon the request of the Administrative Agent, to the extent permitted by applicable law at the time of such request, the Parent and the Borrower shall grant, or cause the applicable Subsidiary Loan Party to grant, to the Administrative Agent a direct security interest in the Operating Licenses within 60 days after receipt of such request; provided that, to the extent FCC or RCA consent shall be required in connection with granting such security interest (but excluding foreclosure and the exercise of other remedies for enforcement hereunder), such consent shall be requested within 30 days after receipt of such request and upon receipt of such FCC or RCA consent, such security interest shall be granted within 10 Business Days thereof, such security interest to the extent permitted by applicable law to be deemed effective as of the later of (A) the time such security interest is otherwise required to be granted or (B) the date on which the granting Loan Party was assigned or obtained control over such Operating License, provided further that, to the extent FCC and/or RCA approval shall be required under applicable law for (I) the operation and effectiveness of any grant, right or remedy hereunder or under any other Loan Document or (II) taking any action that may be taken by the Administrative Agent, the LC Issuer or any Lender hereunder or under any other Loan Document, such grant, right, remedy or actions will be subject to such prior FCC and/or RCA approval having been obtained by or in favor of the Administrative Agent, the LC Issuer or Lender, as applicable. Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, neither the Administrative Agent, the LC Issuer nor any Lender shall, without first obtaining the approval of the FCC and/or RCA, as applicable, take any action pursuant to this Agreement or any other Loan Document which would constitute or result in an assignment of any Operating License held by the Parent, the Borrower or any Subsidiary or any change of control of the Parent, the Borrower or any Subsidiary if such assignment or change in control would require, under then applicable law, the prior approval of the FCC and/or the RCA, and voting rights in any Collateral representing control of any license, permit or other authorization of the FCC and/or RCA shall remain in the holder thereof authorized by the FCC and/or RCA until all such necessary consents shall have been obtained. Each of the Parent ...
Operating Licenses. Licenses, permits and registrations issued by the appropriate state and federal agencies, which are necessary to the operation of the Company's business. Such Operating Licenses are more fully described in Schedule 3.11 hereto.
Operating Licenses. Any operating license(s) for the benefit of the Borrower or the Guarantor shall be impaired, revoked, suspended, modified in a materially adverse manner, or terminated by any Person or any Governmental Authority commences to the knowledge of the Borrower any proceedings for the revocation, suspension, modification or termination of any operating license(s) of the Borrower or the Guarantor and the effect of any of the foregoing would reasonably be likely to have a Material Adverse Effect; or
Operating Licenses. The Corporation, as required by law, has obtained and paid for all licenses listed in Schedule iii. No material license or operating authority listed in Schedule iv shall be subject to revocation as a result of the consummation of this transaction, except as may be provided in such Schedule.
Operating Licenses. A copy of the Operating Licenses and other material required Permits owned or held by or issued to Seller or Manager relating to the Facilities or the Property (or any portion thereof).
Operating Licenses. All licenses required to be held in accordance with Applicable Law by employees of the Wastewater System shall be held by full-time, on-site employees of the Company.
Operating Licenses. The Company shall have used its best efforts to cause all government licenses, permissions, consents, approvals or authorizations necessary for the conduct of the Company's business as being conducted by it as of the Closing Date to be registered in the name of an officer or employee of the Company other than, or in addition to, Will▇▇▇ ▇. ▇▇▇▇▇▇▇.
Operating Licenses. The Corporation shall obtain, as and when required, and maintain in good standing all material permits and approvals necessary for the ownership of its property and for the conduct of its business in each relevant jurisdiction.
Operating Licenses. Subject to the terms and conditions set forth herein, Generator grants and conveys unto Producer the Licenses set forth in this Section 5.1 for the limited purposes set forth below (collectively, the “Operating Licenses”), such Operating Licenses to terminate upon the expiration or termination of this Agreement or upon such time as Producer does not own sole title to the Facility or an exclusive lease to use and operate the Facility on the Site. Producer acknowledges and agrees that the licenses and the associated rights of Producer set forth in this Section 5.1 are being made or granted by Generator, and the Site, the Power Plant, the Licensed Lands, and the Facility Land are being accepted and will be used by Producer, in “AS IS, WHERE IS” condition with all faults, and Generator makes no warranties or guarantees that the Site, the Power Plant, the Licensed Lands, or the Facility Land is suitable for any purposes described in this Agreement or intended by Producer.
Operating Licenses. Set forth on Exhibit 2.14 hereto is a description of each material operating license or permit required for the conduct of the business of Company, together with the name of the government agency or entity issuing such license or permit. Such licenses and permits are valid and in full force and effect, and to the Knowledge of the Company, will not be terminated or otherwise adversely affected by the consummation of the transactions contemplated hereby except where such termination or effect would not have a Material Adverse Effect.