Common use of Government Approvals and Consents Clause in Contracts

Government Approvals and Consents. Notwithstanding anything to the contrary set forth herein or in any other Credit Document, each Agent agrees that to the extent prior Governmental Authority approval is required pursuant to Requirements of Law for (i) the operation and effectiveness of any grant, right or remedy hereunder or under the other Credit Documents or (ii) taking any action that may be taken by the Administrative Agent hereunder or under the other Credit Documents, such grant, right, remedy or actions will be subject to such prior Governmental Authority approval having been obtained by or in favor of the Administrative Agent. Voting rights in any Collateral representing control over any license, permit, franchise or other authorization issued by any such Governmental Authority shall remain in the authorized holder thereof notwithstanding the occurrence and continuance of any Event of Default until any necessary consents of a Governmental Authority shall have been obtained for any assignment of assets or change of control that requires such prior approval.