Compliance with Laws and Codes. To Contributor’s knowledge, the Project, and the use and operation thereof, is (or the use and operation of any component, portion or area of the Project is) in material compliance with applicable municipal and other governmental laws, ordinances, regulations, codes. The fee simple owner of the Land possesses the material licenses, permits and authorizations for the use, occupancy and operation of the Project as it is presently being operated, except where such violation or failure would not have a POP Material Adverse Effect. To Contributor’s knowledge, no notice, citation, summons or order has been issued, nor has Contributor or the POP Affiliate received any written notice from any Governmental Authority that any investigation or review is pending or threatened by such Governmental Authority with respect to any alleged violation by the fee simple owner of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a POP Material Adverse Effect.
Appears in 2 contracts
Samples: Contribution Agreement, Contribution Agreement (Arizona Land Income Corp)
Compliance with Laws and Codes. To ContributorSeller’s knowledge, the Project, and the use and operation thereof, is (or the use and operation of any component, portion or area of the Project is) in material compliance with applicable municipal and other governmental laws, ordinances, regulations, codes. The fee simple owner Each of the Land Project Owners possesses the material licenses, permits and authorizations for the use, occupancy and operation of its respective portion of the Project as it is presently being operated, except where such violation or failure would not have a POP Material Adverse Effect. To ContributorSeller’s knowledge, no notice, citation, summons or order has been issued, nor has Contributor Seller or the any POP Affiliate received any written notice from any Governmental Authority that any investigation or review is pending or threatened by such Governmental Authority with respect to any alleged violation by either of the fee simple owner Project Owners of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a POP Material Adverse Effect.
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.), Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.)
Compliance with Laws and Codes. To ContributorSeller’s knowledge, the Project, and the use and operation thereof, is (or the use and operation of any component, portion or area of the Project is) in material compliance with applicable municipal and other governmental laws, ordinances, regulations, codes. The fee simple owner of the Land Project Owner possesses the material licenses, permits and authorizations for the use, occupancy and operation of the Project as it is presently being operated, except where such violation or failure would not have a POP Material Adverse Effect. To ContributorSeller’s knowledge, no notice, citation, summons or order has been issued, nor has Contributor Seller or the either POP Affiliate received any written notice from any Governmental Authority that any investigation or review is pending or threatened by such Governmental Authority with respect to any alleged violation by the fee simple owner Project Owner of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a POP Material Adverse Effect.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.)
Compliance with Laws and Codes. To ContributorSeller’s knowledge, the Project, and the use and operation thereof, is (or the use and operation of any component, portion or area of the Project is) in material compliance with applicable municipal and other governmental laws, ordinances, regulations, codes. The fee simple owner of the Land Project Owner possesses the material licenses, permits and authorizations for the use, occupancy and operation of its respective portion of the Project as it is presently being operated, except where such violation or failure would not have a POP Material Adverse Effect. To ContributorSeller’s knowledge, no notice, citation, summons or order has been issued, nor has Contributor Seller or the any POP Affiliate received any written notice from any Governmental Authority that any investigation or review is pending or threatened by such Governmental Authority with respect to any alleged violation by the fee simple owner Project Owner of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a POP Material Adverse Effect.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.)