Common use of Operating Rights Clause in Contracts

Operating Rights. The Corporation has all operating authority, licenses, franchises, permits, certificates, consents, rights and privileges (collectively "Licenses") as are necessary or appropriate to the operation of its business as now conducted and which the failure to possess would have a material adverse effect on the assets, operations or financial condition of the Corporation. Except where any failure would not have a material adverse effect on the Corporation, such Licenses are in full force and effect, no violations have been or are expected to have been recorded in respect of any such licenses, and no proceeding is pending or, to the knowledge of the Corporation, threatened that could result in the revocation or limitation of any such licenses. The Corporation has conducted its business so as to comply in all material respects with all such Licenses.

Operating Rights. The Corporation Company has all operating authority, ---------------- licenses, franchises, permits, certificates, consents, rights and privileges (collectively "Licenses") as are necessary or appropriate to the operation of its business as now conducted and which as proposed to be conducted, except where the failure to possess would have a material adverse effect on the assets, operations or financial condition of the Corporation. Except where any failure such License would not have a material adverse effect on the Corporation, such its business as now conducted and as proposed to be conducted. Such Licenses are in full force and effect, no violations have been or are expected to have been recorded in respect of any such licensesLicenses, and no proceeding is pending or, to the knowledge of the CorporationCompany, threatened that could result in the revocation or limitation of any of such licensesLicenses. The Corporation Company has conducted its business so as to comply in all material respects with all such Licenses.