Governmental Approvals and Required Consents Clause Samples
The "Governmental Approvals and Required Consents" clause establishes the obligation for parties to obtain all necessary permits, licenses, and approvals from relevant government authorities, as well as any consents required from third parties, before proceeding with the activities outlined in the agreement. In practice, this means that before a project can begin or a transaction can close, each party must ensure compliance with applicable laws and secure any official permissions or third-party consents that may be needed, such as zoning permits, environmental clearances, or landlord approvals. This clause serves to allocate responsibility for legal compliance and helps prevent delays or legal issues that could arise from missing or inadequate authorizations.
Governmental Approvals and Required Consents. Any Major Project Participant shall fail to obtain, renew, maintain or comply with any Governmental Approval or other Required Consent relating to the Project or the DOE Credit Facility, or any such Governmental Approval or Required Consent shall be rescinded, terminated, suspended, modified, withdrawn or withheld or shall be determined to be invalid or shall cease to be in full force and effect; or any proceedings shall be commenced by or before any Governmental Authority for the purpose of rescinding, terminating, suspending, modifying, withdrawing or withholding any such Governmental Approval, if such failure, termination, suspension, modification, withdrawal, withholding, revocation, proceeding or other event (i) has had or would reasonably be expected to have a Material Adverse Effect and (ii) is not cured to the satisfaction of the Loan Servicer within 30 days (or, if such event is not reasonably curable within such 30 day period, such longer period, not to exceed 90 days, during which time the Borrower shall be taking diligent action to effect such cure).
Governmental Approvals and Required Consents. Any Major Project Participant shall fail to obtain, renew, maintain or comply with any Governmental Approval or other Required Consent, or any such Governmental Approval or Required Consent shall be rescinded, terminated, suspended, modified, withdrawn or withheld or shall be determined to be invalid or shall cease to be in full force and effect; or any proceedings shall be commenced by or before any Governmental Authority for the purpose of rescinding, terminating, suspending, modifying, withdrawing or withholding any Governmental Approval, if such failure, termination, suspension, modification, withdrawal, withholding, revocation, proceeding or other event has had or could reasonably be expected to have a Material Adverse Effect.
Governmental Approvals and Required Consents. (i) The Borrower or the Operator shall fail to obtain, renew, maintain or comply with any Governmental Approval or other Required Consent, or (ii) such Governmental Approval or Required Consent shall be rescinded, terminated, suspended, modified, withdrawn or withheld or shall be determined to be invalid or shall cease to be in full force and effect (following the exhaustion of all regulatory and judicial rights of appeal by the Operator and the Borrower).
Governmental Approvals and Required Consents. Seller shall use all reasonable efforts to obtain all of the Governmental Approvals and Required Consents prior to the Closing.