Common use of Broadband Approvals Clause in Contracts

Broadband Approvals. Each Loan Party possesses all Permits and approvals from each Governmental Authority necessary to own and operate any Interactive Broadband Network or any other local or long distance telecommunications systems presently operated by such Loan Party or otherwise for the operations of their businesses and are not in violation thereof, except where the failure to so possess could not reasonably be expected to have a Material Adverse Effect. All material approvals from each Governmental Authority are in full force and effect and no event has occurred that permits, or after notice or lapse of time could permit, the revocation, termination or material and adverse modification of any such approval.

Broadband Approvals. Each Loan Party possesses all Permits and possess approvals from each Governmental Authority necessary to own and operate any Interactive Broadband Network or any other local or long distance telecommunications systems presently operated by such Loan Party or otherwise for the operations of their businesses and are not in violation thereof, except where the failure to so possess could not reasonably be expected to have a Material Adverse Effect. All material approvals from each Governmental Authority are in full force and effect and no event has occurred that permits, or after notice or lapse of time could permit, the revocation, termination or material and adverse modification of any such approval.