No Violations of Laws. It (i) is not in material violation of any law, ordinance, rule, regulation, judgment, decree or order of any federal, state or local governmental body or court; and (ii) has obtained all required permits, certificates, licenses, approvals and other authorizations from governmental agencies and entities (whether federal, state or local) necessary to carry on its operation.
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Samples: Loan and Security Agreement (Travis Boats & Motors Inc), Loan and Security Agreement (Medicus Systems Corp /De/)
No Violations of Laws. It (i) is not in material violation of any law, ordinance, rule, regulation, judgment, decree or order of any federal, state or local governmental body or court; and (ii) has obtained all required permits, certificates, licenses, approvals and other authorizations from governmental agencies and entities (whether federal, state or local) necessary to carry on its operation, except where the failure to do so could not reasonably be expected to have a material adverse effect on the Borrower.
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No Violations of Laws. It (i) is not in material violation of any law, ordinance, rule, regulation, judgment, decree or order of any federal, state or local governmental body or court; and (ii) has obtained all required permits, certificates, licenses, approvals and other authorizations from governmental agencies and entities (whether federal, state or local) necessary to carry on its operation, except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrowers on a consolidated basis.
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