Franchises and Permits Sample Clauses
The 'Franchises and Permits' clause establishes the requirement for a party to obtain and maintain all necessary governmental authorizations, such as franchises, licenses, and permits, needed to legally operate under the agreement. In practice, this means the party must ensure it has secured all approvals from relevant authorities before commencing operations and must keep these approvals current throughout the contract term. This clause serves to ensure legal compliance and minimize the risk of operational disruptions due to regulatory issues.
Franchises and Permits. Each Obligor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. As of the Closing Date, each Borrower is Wholly-Owned by the Guarantor. Each Obligor has all requisite corporate power and authority (i) to carry on its business as now conducted, and (ii) to enter into the Loan Documents to which it is a party and to carry out the transactions contemplated hereby and thereby.
Franchises and Permits. The Borrower has all franchises, permits and licenses and other authority as are necessary to enable the Borrower to conduct its business as being conducted, and the Borrower is not in default under any such franchises, permits, licenses or authority.
Franchises and Permits. Preserve and keep in full force and effect all franchises, permits, licenses and other authority as are necessary to enable it to conduct its business as being conducted on the date hereof, and to comply in all material respects with all laws, regulations and requirements now in effect or hereafter promulgated by any property constituted governmental authority having jurisdiction over Borrower or its business.
Franchises and Permits. Borrower has all material permits, franchises, contracts and licenses and required trademarks and other intellectual property necessary to conduct its business as it is presently conducted.
Franchises and Permits. The Company and its Material Subsidiaries hold valid and subsisting franchises, licenses and permits in all incorporated communities served by them, authorizing them to conduct the respective utility businesses in which they are engaged in such communities, and valid and subsisting certificates of public good and other authorizations from other governmental or regulatory authorities. The franchises, licenses, permits, certificates and other authorizations held by the Company and its Material Subsidiaries are free from unduly burdensome restrictions and are sufficient in every material respect to enable the Company and its Material Subsidiaries to carry on their respective utility businesses as now being conducted by them. The Company and its Material Subsidiaries are in substantial compliance with all enforceable franchises, licenses, permits, certificates and authorizations held by them.
Franchises and Permits. The Company holds valid and subsisting certificates of convenience and necessity, grants, franchises, licenses, permits, consents, orders of governmental and regulatory authorities and easements, free from unduly burdensome restrictions, required for the maintenance and operation of its properties and business in the territories now served by it and they enable it to carry on the business now being conducted by it.
Franchises and Permits. 6.1. Each of the Franchises is in full force and valid. None of the provisions of the Franchises have been supplemented, removed or amended since they were granted to Citybus. There is no agreement to make any changes to the Merged Franchise and/or the CTB (F2) 2023 Franchise. So far as the Vendors are aware, the sale of the Sale Shares by the Vendors will not result in the Franchises being revoked.
6.2. Citybus has complied with the terms and conditions of the Franchise(s) in all material respects. Save as disclosed, none of the Group Companies has received any written notice from any administrative, governmental or regulatory commission, board, body, authority or agency or any stock exchange or other non-governmental regulatory authority or any court, tribunal or arbitrator, whether national, central, federal, provincial, state, regional municipal, local, domestic or foreign, including the Commissioner for Transport of the HK Government, and, so far as the Vendors are aware, there is no outstanding investigation or proceeding which will or is likely to result in the respective Franchise(s) being amended, revoked, suspended or cancelled prior to the expiry of their respective terms.
6.3. The passenger service licences (public bus service) held by Citybus and/or its subsidiaries under the Road Traffic Ordinance (Cap. 374 of the Laws of Hong Kong) for the operation of non-franchised bus services are valid and subsisting.
Franchises and Permits