Common use of Maintenance of Licenses, Permits, etc Clause in Contracts

Maintenance of Licenses, Permits, etc. The Co-Borrowers (i) shall maintain in full force and effect, and shall cause each of their Subsidiaries and Affiliates, to maintain in full force and effect, all licenses, permits, governmental approvals, franchises, authorizations or other rights necessary for the operation of the Co-Borrowers', their Subsidiaries' and/or Affiliates' businesses, except where the failure to obtain any of the foregoing would not have or is not reasonably likely to have a Material Adverse Effect and (ii) shall notify the Agent in writing, promptly after learning thereof, of the suspension, cancellation, revocation or discontinuance of or of any pending or threatened action or proceeding seeking to suspend, cancel, revoke or discontinue any such license, permit, governmental approval, franchise authorization or right, where the result thereof could reasonably be expected to have a Material Adverse Effect.

Maintenance of Licenses, Permits, etc. The Co-Borrowers Borrower (i) shall maintain in full force and effect, and shall cause each of their its Subsidiaries and Affiliates, to maintain in full force and effect, all licenses, permits, governmental approvals, franchises, authorizations or other rights necessary for the operation of the Co-Borrowers'Borrower's, their its Subsidiaries' and/or its Affiliates' businesses, except where the failure to obtain any of the foregoing would not have or is not reasonably likely to have a Material Adverse Effect and (ii) shall notify the Agent Lender in writing, promptly after learning thereof, of the suspension, cancellation, revocation or discontinuance of or of any pending or threatened action or proceeding seeking to suspend, cancel, revoke or discontinue any such license, permit, governmental approval, franchise authorization or right, where the result thereof could reasonably be expected to have a Material Adverse Effect.