Common use of Industry Canada Approval Clause in Contracts

Industry Canada Approval. (A) The prior approval of the Minister of Industry of Canada (the “Industry Canada Approval”) approving the transfer of control of Terrestar National Services Inc., Terrestar Networks Holdings (Canada) Inc. and Terrestar Networks (Canada) Inc. to the Plan Sponsor or, at the option of the Plan Sponsor, the transfer or assignment of the licenses and authorizations held by the TSN Debtors to a party designated by the Plan Sponsor that is eligible to hold such licenses and authorizations, to the extent required by applicable law, including the licenses and authorizations, to consummate the transactions contemplated by the Plan, shall have been obtained and shall be final and in full force and effect without any condition or requirement that would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the current or future business or operations of the Plan Sponsor; and (B) the courts shall have denied all applications for judicial review or other court challenges to the Industry Canada Approval or appeals of any court order upholding the Industry Canada Approval, or the periods for filing such appeals shall have passed and no appeal shall have been filed.

Industry Canada Approval. To the extent necessary, (A) The the prior approval of the Minister of Industry of Canada (the “Industry Canada Approval”) approving the transfer of control of Terrestar National Services Inc., Terrestar Networks Holdings (Canada) Inc. and Terrestar Networks (Canada) Inc. to the Plan Sponsor Sponsors or, at the option of the Plan SponsorSponsors, the transfer or assignment of the licenses and authorizations held by the TSN Debtors to a party designated by the Plan Sponsor Sponsors that is eligible to hold such licenses and authorizations, to the extent required by applicable law, including the licenses and authorizations, to consummate the transactions contemplated by the Plan, shall have been obtained and shall be final and in full force and effect without any condition or requirement that would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the current or future business or operations of the Plan SponsorSponsors; and (B) the courts shall have denied all applications for judicial review or other court challenges to the Industry Canada Approval or appeals of any court order upholding the Industry Canada Approval, or the periods for filing such appeals shall have passed and no appeal shall have been filed.