Common use of Compliance with Laws and Codes Clause in Contracts

Compliance with Laws and Codes. To Seller’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. Each of the 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 Material Adverse Effect. To Seller’s knowledge, no notice, citation, summons or order has been issued, nor has Seller or 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 Project Owners of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a 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.)

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Compliance with Laws and Codes. To SellerContributor’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. Each The fee simple owner of the Project Owners Land 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 SellerContributor’s knowledge, no notice, citation, summons or order has been issued, nor has Seller Contributor or any 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 either of the Project Owners 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 Seller’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. Each of the The Project Owners 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 Material Adverse Effect. To Seller’s knowledge, no notice, citation, summons or order has been issued, nor has Seller or any 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 either of the Project Owners Owner of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.)

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Compliance with Laws and Codes. To Seller’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. Each of the The Project Owners 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 Material Adverse Effect. To Seller’s knowledge, no notice, citation, summons or order has been issued, nor has Seller or 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 Project Owners Owner of any such laws, statutes, rules, regulations or orders, except where the failure to comply with the same would not have a Material Adverse Effect.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Pacific Office Properties Trust, Inc.)

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