Common use of Compliance with Laws and Maintenance of Permits Clause in Contracts

Compliance with Laws and Maintenance of Permits. Each Borrower and each Guarantor shall maintain all governmental consents, franchises, certificates, licenses, authorizations, approvals and permits, the lack of which would have a Material Adverse Effect, and each Borrower and each Guarantor shall remain in compliance with all applicable federal, state, local and foreign statutes, orders, regulations, rules and ordinances (including, without limitation, Environmental Laws and statutes, orders, regulations, rules and ordinances relating to taxes, employer and employee contributions and similar items, securities, ERISA or employee health and safety) the failure with which to comply would have a Material Adverse Effect. Following any determination by Agent that there is non-compliance, or any condition which requires any action by or on behalf of any Borrower or any Guarantor in order to avoid non-compliance, with any Environmental Law, such Borrower or Guarantor, at Borrowers' expense, will cause an independent environmental engineer acceptable to Agent to conduct such tests of the relevant site(s) as are appropriate and prepare and deliver a report setting forth the results of such tests, a proposed plan for remediation and an estimate of the costs thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Medical Technology Systems Inc /De/)

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Compliance with Laws and Maintenance of Permits. Each Borrower (and each Guarantor Guarantor) shall maintain all governmental consents, franchises, certificates, licenses, authorizations, approvals and permits, the lack of which would be reasonably expected to have a Material Adverse Effect, Effect and Borrower (and each Borrower and each Guarantor Guarantor) shall remain in compliance with all applicable federal, state, local and foreign statutes, orders, regulations, rules and ordinances (including, without limitation, Environmental Laws and statutes, orders, regulations, rules and ordinances relating to taxes, employer and employee contributions and similar items, securities, ERISA or employee health and safety) ), the failure with which to comply would reasonably be expected to have a Material Adverse Effect. Following any determination by Agent Lender that there is non-compliance, or any condition which requires any action by or on behalf of any Borrower (or any Guarantor Guarantor) in order to avoid non-compliance, with any Environmental Law, such Borrower or GuarantorLender may, at Borrowers' Borrower's expense, will cause an independent environmental engineer acceptable to Agent Lender to conduct such tests of the relevant site(s) as are appropriate and prepare and deliver a report setting forth the results of such tests, a proposed plan for remediation and an estimate of the costs thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Dynasil Corp of America)

Compliance with Laws and Maintenance of Permits. Each Borrower and each Guarantor Subsidiary shall maintain all governmental consents, franchises, certificates, licenses, authorizations, approvals and permits, the lack of which would have a Material Adverse Effect, Effect on Borrower or such Subsidiary and each Borrower and each Guarantor Subsidiary shall remain in compliance with all applicable federal, state, local and foreign statutes, orders, regulations, rules and ordinances (including, without limitation, Environmental Laws and statutes, orders, regulations, rules and ordinances relating to taxes, employer and employee contributions and similar items, securities, ERISA or employee health and safety) the failure with which to comply would have a Material Adverse EffectEffect on Borrower or such Subsidiary. Following any determination by Agent Lender that there is non-compliance, or any condition which requires any action by or on behalf of any Borrower or any Guarantor Subsidiary in order to avoid non-compliance, with any Environmental Law, such Borrower or Guarantor, at Borrowers' expense, will Borrower's expense cause an independent environmental engineer acceptable to Agent Lender to conduct such tests of the relevant site(s) as are appropriate and prepare and deliver a report setting forth the results of such tests, a proposed plan for remediation and an estimate of the costs thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Delphax Technologies Inc)

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Compliance with Laws and Maintenance of Permits. Each Borrower shall maintain, and shall cause each Guarantor shall maintain Subsidiary to maintain, all governmental consents, franchises, certificates, licenses, authorizations, approvals and permits, the lack of which would have a Material Adverse Effect, Effect and each Borrower and each Guarantor shall remain in compliance with with, and shall cause each Subsidiary to remain in compliance with, all applicable federal, state, local and foreign statutes, orders, regulations, rules and ordinances (including, without limitation, Environmental Laws and statutes, orders, regulations, rules and ordinances relating to taxes, employer and employee contributions and similar items, securities, ERISA or employee health and safety) the failure with which to comply would have a Material Adverse Effect. Following any determination by Agent Lender that there is non-compliance, or any condition which requires any action by or on behalf of any a Borrower or any Guarantor Subsidiary in order to avoid non-compliance, with any Environmental Law, such Borrower or Guarantor, at Borrowers' expense, will expense cause an independent environmental engineer acceptable to Agent Lender to conduct such tests of the relevant site(s) as are appropriate and prepare and deliver a report setting forth the results of such tests, a proposed plan for remediation and an estimate of the costs thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Numatics Inc)

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