Common use of Business and Property Clause in Contracts

Business and Property. Borrower (i) holds all FCC Licenses necessary to the operation of the System and all other Licenses necessary to the operation of the System, except where the failure to hold such other Licenses could not reasonably be expected to have a Material Adverse Effect and (ii) has not engaged in and does not propose to engage in any business activity other than the operation of the System and the Paging Business relating thereto.