Common use of Compliance with Law and Agreements; Maintenance of Licenses Clause in Contracts

Compliance with Law and Agreements; Maintenance of Licenses. Each Borrower shall comply, and the Company shall cause each Other Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws), except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Each Borrower shall, and the Company shall cause each Other Subsidiary to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Closing Date, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Agent in any material respect.

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

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Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shall comply, and the Company shall cause the Parent and each Other Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws), except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Each The Borrower shall, and the Company shall cause the Parent and each Other Subsidiary of its Subsidiaries (other than Immaterial Subsidiaries) to, obtain and maintain all material licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Closing Date, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. No The Borrower shall not, nor shall it permit the Parent or any Subsidiary to, modify, amend or alter its certificate or articles of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, other than in a manner which does not materially adversely affect the rights of the Lenders or the Agent in any material respectAgent.

Appears in 1 contract

Samples: Credit Agreement (Acg Holdings Inc)

Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shall comply, and the Company shall cause each Other Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental LawsAct), except where the failure to do so would is not reasonably be expected likely to have result in a Material Adverse Effectmaterial adverse effect on the Borrower's or such Subsidiary's property, business, operations or condition (financial or otherwise). Each The Borrower shall, and the Company shall cause each Other Subsidiary of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Closing Date, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. No The Borrower shall not, and shall not permit any Subsidiary to, modify, amend or alter its certificate or articles article of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, incorporation other than in a manner which does not adversely affect the rights of the Lenders or the Agent in any material respectAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

Compliance with Law and Agreements; Maintenance of Licenses. Each Such Borrower shall comply, and the Company shall cause each Other Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental LawsAct), except where the failure to do so would is not reasonably be expected likely to have result in a Material Adverse Effectmaterial adverse effect on such Borrower's or such Subsidiary's property, business, operations or condition (financial or otherwise). Each Such Borrower shall, and the Company shall cause each Other Subsidiary of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Closing Date, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. No Such Borrower shall not, and shall not permit any Subsidiary to, modify, amend or alter its certificate or articles article of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, incorporation other than in a manner which does not adversely affect the rights of the Lenders or the Agent in any material respectAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

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Compliance with Law and Agreements; Maintenance of Licenses. Each Such Borrower shall comply, and the Company shall cause each Other Subsidiary of its Subsidiaries to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws), except where to the extent that failure to do so would comply therewith could not reasonably be expected to have cause, individually or in the aggregate, a Material Adverse Effect. Each Such Borrower shall, and the Company shall cause each Other Subsidiary of its Subsidiaries to, obtain and maintain all material licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Closing Date, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. No Such Borrower shall not modify, amend or alter its certificate or articles of incorporation, or its limited liability company operating agreement or limited partnership agreementagreement or other organizational documents, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Agent in any material respectAdministrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Manufacturers Services LTD)

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