Common use of No Legal Obstacle to Agreement Clause in Contracts

No Legal Obstacle to Agreement. The execution, delivery and performance, or the acceptance, as the case may be, by the Company of the Agreements, the Credit Agreement, the Basic Agreements, the Nuclear Fuel Contracts and the Notes did not, do not and will not violate any provision of any law or regulation or of any writ or decree of any court or governmental instrumentality applicable to the Company, and no consent, license, approval, order or authorization of, or filing, registration or declaration with, any governmental authority, bureau or agency or any court or other Person is required in connection with the execution, delivery, performance, acceptance, validity or enforceability of any of the above mentioned documents and instruments (provided that no representation is given with respect to the Nuclear Fuel Contracts insofar as the respective Manufacturers, as defined in the Lease Agreement, are concerned), except for (i) a general license for the Company to own special nuclear material from the Nuclear Regulatory Commission (currently granted under 10 C.F.R. Sections 40.21 and 70.20), (ii) a license to possess and use special nuclear material granted by the Nuclear Regulatory Commission to the Lessee, and (iii) the Orders dated February 21, 1989, February 23, 1989, July 7, 1989, January 24, 1996 and August 22, 2000 of the Securities and Exchange Commission authorizing the issuance of $180 million aggregate principal amount of IT Notes at any one time outstanding, all of which licenses, orders, approvals and filings have been duly obtained or made and are final and are in full force and effect, and none of such licenses, orders, approvals and filings is the subject of any pending or, to the best of the Company's knowledge, any threatened attack by direct proceedings or otherwise; and except for a special license to possess special nuclear material from the Nuclear Regulatory Commission that the Company or the Collateral Agent may be required to obtain to take possession of the Nuclear Fuel in the event of default; provided that no representation is given herein with respect to federal, New York or Mississippi banking or trust laws or regulations or the securities or blue sky laws or regulations of any state.

No Legal Obstacle to Agreement. The execution, delivery and performance, or the acceptance, as the case may be, by the Company of the Agreements, the Credit Agreement, the Basic Agreements, the Nuclear Fuel Contracts and the Notes did not, do not and will not violate any provision of any law or regulation or of any writ or decree of any court or governmental instrumentality applicable to the Company, and no consent, license, approval, order or authorization of, or filing, registration or declaration with, any governmental authority, bureau or agency or any court or other Person is required in connection with the execution, delivery, performance, acceptance, validity or enforceability of any of the above mentioned documents and instruments (provided that no representation is given with respect to the Nuclear Fuel Contracts insofar as the respective Manufacturers, as defined in the Lease Agreement, are concerned), except for (i) a general license for the Company to own special nuclear material from the Nuclear Regulatory Commission (currently granted under 10 C.F.R. Sections 40.21 and 70.20), (ii) a license to possess and use special nuclear material granted by the Nuclear Regulatory Commission to the Lessee, and (iii) the Orders dated February 21, 1989, February 23, 1989, July 7, 1989, 1989 and January 24, 1996 and August 22, 2000 of the Securities and Exchange Commission authorizing the issuance of $180 million aggregate principal amount of IT Notes at any one time outstanding, all of which licenses, orders, approvals and filings have been duly obtained or made and are final and are in full force and effect, and none of such licenses, orders, approvals and filings is the subject of any pending or, to the best of the Company's knowledge, any threatened attack by direct proceedings or otherwise; and except for a special license to possess special nuclear material from the Nuclear Regulatory Commission that the Company or the Collateral Agent may be required to obtain to take possession of the Nuclear Fuel in the event of default; provided that no representation is given herein with respect to federalFederal, New York or Mississippi banking or trust laws or regulations or the securities or blue sky laws or regulations of any state.