Common use of Governmental and Other Approval Clause in Contracts

Governmental and Other Approval. BPZ has all material permits, licenses, orders and approvals of all federal, state, local or foreign governmental or regulatory bodies required for them to conduct their respective business as presently conducted. All such permits, licenses, orders and approvals are in full force and effect and no suspension or cancellation of any of them is threatened, except as would not reasonably be expected to have a material adverse effect on BPZ, and none of such permits, licenses, orders or approvals will be affected by the consummation of the transactions contemplated by this Agreement. No approval or authorization of or filing with any governmental authority or any other person or entity on the part of BPZ is required as a condition to the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby other than the filing of any documents contemplated by this Agreement.