Common use of Franchises, Licenses, Agreements, etc Clause in Contracts

Franchises, Licenses, Agreements, etc. At the Effective Time the Company and its Subsidiaries will each be in possession of and operating in substantial compliance with all franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders required to own or lease its respective properties and to permit the conduct of its business, except for those franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders (collectively, "Permitted Exceptions") (i) which are routine in nature and are expected to be obtained or given in the ordinary course of business after the Effective Time, (ii) which are administrative in nature and which are expected to be obtained or given in the ordinary course of business after the Effective Time, or (iii) the failure of which to be obtained or given would not individually or in the aggregate materially and adversely affect the business, property or assets, condition (financial or other), operations or prospects of the Company and its Subsidiaries taken as a whole, or impair the ability of the Company to perform its obligations under this Agreement, the Conversion Agreement, the Assumption Agreement, the Senior Note Agreements or the Notes, or in the ability of the parties to the Subsidiary Assumption Agreements or the Southern Timber Assumption Agreement to perform their respective obligations thereunder.

Franchises, Licenses, Agreements, etc. At the Effective Time the Company and its Subsidiaries will each be in possession of and operating in substantial compliance with all franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders required to own or lease its respective properties and to permit the conduct of its business, except for those franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders (collectively, "Permitted Exceptions") (i) which are routine in nature and are expected to be obtained or given in the ordinary course of business after the Effective Time, (ii) which are administrative in nature and which are expected to be obtained or given in the ordinary course of business after the Effective Time, or (iii) the failure of which to be obtained or given would not individually or in the aggregate materially and adversely affect the business, property or assets, condition (financial or other), operations or prospects of the Company and its Subsidiaries taken as a whole, or impair the ability of the Company to perform its obligations under this Agreement, the Conversion Agreement, the Assumption Agreement, the Senior Note Agreements Agreement or the Notes, or in the ability of the parties to the Subsidiary Assumption Agreements or the Southern Timber Assumption Agreement to perform their respective obligations thereunder.

Franchises, Licenses, Agreements, etc. At the Effective Time the Company and its Subsidiaries will each be in possession of and operating in substantial compliance with all franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders required to own or lease its respective properties and to permit the conduct of its business, except for those franchises, grants, authorizations, approvals, licenses, permits, easements, consents, certificates and orders (collectively, "Permitted Exceptions") (i) which are routine in nature and are expected to be obtained or given in the ordinary course of business after the Effective Timedate of closing, (ii) which are administrative in nature and which are expected to be obtained or given in the ordinary course of business after the Effective Timedate of closing, or (iii) the failure of which to be obtained or given would not individually or in the aggregate materially and adversely affect the business, property or assets, condition (financial or other), operations or prospects of the Company and its Subsidiaries taken as a whole, or impair the ability of the Company Partnership to perform its obligations under this Agreement, the Conversion Agreement, the Assumption Agreement, the Senior Note Agreements Agreement or the Notes, or in the ability ablity of the parties to the Subsidiary Assumption Agreements or the Southern Timber Assumption Agreement to perform their respective obligations thereunder.