Use of Real Property. Except as set forth on Schedule 5.10, the owned and leased real properties reflected on the Pro Forma Balance Sheet or used in connection with the respective businesses of each Company and Subsidiary, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the Companies; neither any Company nor any Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of any Company or any Subsidiary; and there is no such violation. Except as set forth on Schedule 5.10, all plants and other buildings that are owned or covered by leases reflected on the Pro Forma Balance Sheet or used in connection with the business of any Company or Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leases for real properties reflected on the Pro Forma Balance Sheet or used in connection with the business of any Company or Subsidiary are in full force and effect and each Company and Subsidiary enjoys peaceful and undisturbed possession thereunder. There is no default on the part of any Company or any Subsidiary or event or condition which with notice or lapse of terms, or both, would constitute a default on the part of any Company or any Subsidiary under any of such leases.
Appears in 1 contract
Sources: Stock Purchase Agreement (Spectrasite Holdings Inc)
Use of Real Property. Except as set forth on Schedule SCHEDULE 5.10, the owned and leased real properties reflected on the Pro Forma Balance Sheet or used in connection with the respective businesses of each the Company and Subsidiaryits Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, except to the extent that the failure so to conform wouldcomply would not, in the aggregate, materially adversely affect the Condition of the Companies; neither any Company nor any Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement Company. Each lease relating to the operations of any Company or any Subsidiary; and there is no such violation. Except as set forth on Schedule 5.10, all plants and other buildings that are owned or covered by leases leased real property reflected on the Pro Forma Balance Sheet or used in connection with the business of any the Company or Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leases for real properties reflected on the Pro Forma Balance Sheet or used in connection with the business of any Company or Subsidiary are its Subsidiaries is in full force and effect and each the Company and Subsidiary enjoys peaceful and undisturbed possession thereunder. There is no default on the part of any the Company or any Subsidiary of its Subsidiaries or event or condition which with notice or lapse of termstime, or both, would constitute a default on the part of any the Company or any Subsidiary of its Subsidiaries under any such lease. There are no actions, suits or proceedings pending or, to the knowledge of such leasesthe Company, threatened against the real property or the leased property on the Pro Forma Balance Sheet or used in connection with the business of the Company and its Subsidiaries, at law or in equity, before any federal, state, municipal or governmental department, commission, board, bureau, agency or instrumentality which either singly or in the aggregate, if determined adversely, would have a material adverse effect on the Condition of the Company.
Appears in 1 contract
Sources: Securities Purchase Agreement (Integrated Defense Technologies Inc)
Use of Real Property. The Company does not own any real -------------------- property. Except as set forth on Schedule 5.10, the owned and leased real properties ------------- reflected on the Pro Forma Balance Sheet or used in connection with the respective businesses business of each the Company and Subsidiaryits Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the CompaniesCompany; neither any the Company nor any Subsidiary of its Subsidiaries has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of any either the Company or any Subsidiaryof its Subsidiaries; and there is no such violation. Except as set forth on Schedule -------- 5.10, all plants and other buildings that are owned or covered by leases reflected on the ---- Pro Forma Balance Sheet or used in connection with the business of any the Company or Subsidiaryand its Subsidiaries, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leases for leased real properties reflected on the Pro Forma Balance Sheet or used in connection with the business of any the Company or Subsidiary and its Subsidiaries are in full force and effect and each the Company and Subsidiary enjoys peaceful and undisturbed possession thereunder. There is no material default on the part of any the Company or any Subsidiary of its Subsidiaries or event or condition which with notice or lapse of terms, or both, would constitute a material default on the part of any the Company or any Subsidiary of its Subsidiaries under any of such leases.
Appears in 1 contract
Sources: Securities Purchase Agreement (Bankvest Capital Corp)
Use of Real Property. Except as set forth on Schedule 5.10, the owned and leased real properties reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the respective businesses business of each the Company and Subsidiaryits Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, individually or in the aggregate, materially adversely affect the Condition of the CompaniesCompany; neither any the Company nor any Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of any the Company or any Subsidiary; and there is no such violation. Except as set forth on Schedule 5.10, all plants and other buildings that are owned or covered by leases reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of any the Company or any Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each Except as set forth on Schedule 5.10, each of the leases for real properties reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of any the Company or any Subsidiary are is in full force and effect and each the Company and Subsidiary enjoys its Subsidiaries enjoy peaceful and undisturbed possession thereunder. There is no default on the part of any the Company or any Subsidiary or event or condition which with notice or lapse of termstime, or both, would constitute a default on the part of any the Company or any Subsidiary under any of such leases.
Appears in 1 contract
Sources: Stock Purchase Agreement (Regent Communications Inc)
Use of Real Property. Except as set forth on Schedule 5.10, the owned and leased real properties reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the respective businesses business of each the Company and Subsidiaryits Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the CompaniesCompany; neither any the Company nor any Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of any the Company or any Subsidiary; and there is no such violation. Except as set forth on Schedule 5.10, all plants and other buildings that are owned or covered by leases reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of any the Company or any Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leases for real properties reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of any the Company or any Subsidiary are is in full force and effect and each the Company and Subsidiary enjoys its Subsidiaries enjoy peaceful and undisturbed possession thereunder. There is no default on the part of any the Company or any Subsidiary or event or condition which with notice or lapse of terms, or both, would constitute a default on the part of any the Company or any Subsidiary under any of such leases.
Appears in 1 contract
Sources: Stock Purchase Agreement (Spectrasite Holdings Inc)