Compliance with Permits, Laws and Orders. (i) Each of the Buyer Entities has in effect all Permits and has made all filings, applications, and registrations with Governmental Authorities that are required for it to own, lease, or operate its assets and to carry on its business as now conducted (except for such failures which are not reasonably likely to have a Buyer Material Adverse Effect), and there has occurred no material Default under any such Permit applicable to their respective businesses or employees conducting their respective businesses. None of the Buyer Entities has received any notification or communication from any Governmental Authority (A) asserting that Buyer or any of its Subsidiaries is in Default under any of the Permits, Laws, or Orders which such Governmental Authority enforces, (B) threatening to revoke any Permits, or (C) requiring Buyer or any of its Subsidiaries (x) to enter into or consent to the issuance of a cease and desist order, formal agreement, directive, commitment, or memorandum of understanding, or (y) to adopt any resolution of its board of directors or similar undertaking.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Georgia-Carolina Bancshares, Inc), Agreement and Plan of Merger (State Bank Financial Corp), Agreement and Plan of Merger (State Bank Financial Corp)
Compliance with Permits, Laws and Orders. (i) Each of the Buyer Seller Entities has in effect all Permits and has made all filings, applications, and registrations with Governmental Authorities that are required for it to own, lease, or operate its assets and to carry on its business as now conducted (except for such failures which are not reasonably likely to have a Buyer Seller Material Adverse Effect), and there has occurred no material Default under any such Permit applicable to their respective businesses or employees conducting their respective businesses. None of the Buyer Seller Entities has received any notification or communication from any Governmental Authority (A) asserting that Buyer or any of its Subsidiaries Seller Entity is in Default under any of the Permits, Laws, or Orders which such Governmental Authority enforces, (B) threatening to revoke any Permits, or (C) requiring Buyer or any of its Subsidiaries Seller Entity (x) to enter into or consent to the issuance of a cease and desist order, formal agreement, directive, commitment, or memorandum of understanding, or (y) to adopt any resolution of its board of directors or similar undertaking.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (State Bank Financial Corp), Agreement and Plan of Merger (Georgia-Carolina Bancshares, Inc), Agreement and Plan of Merger (State Bank Financial Corp)
