Common use of Conditions to Closing of All Parties Clause in Contracts

Conditions to Closing of All Parties. (a) No Governmental Authority shall have enacted, issued, promulgated, enforced, or entered any Governmental Order or Law (except, with respect to U.S. federal Law, to the extent that U.S. federal Law regarding cannabis and commerce related to cannabis conflicts with applicable U.S. state and local Laws) which is in effect and has the effect of making the transactions contemplated by this Agreement illegal, otherwise restraining, enjoining or prohibiting consummation of the transactions contemplated by this Agreement or causing any of the transactions contemplated hereunder to be rescinded following completion thereof. (b) The parties have received the Local Authority Approval and MED Approval, which Local Authority Approval and MED Approval is in effect as of the Closing.