Common use of Permits and Compliance with Laws Clause in Contracts

Permits and Compliance with Laws. Upon completion of construction of the Improvements, all approvals, consents, permits, licenses or certificates of occupancy (whether governmental or otherwise) required for the use, operation and occupancy of the Property shall have been granted to the Transferor Company and shall be in full force and effect, and any fees and charges shall have been fully paid. Upon completion of construction of the Improvements, the Property shall be in compliance in all material respects with all zoning, building, health, traffic, fire safety, flood control, handicap and other laws, regulations and ordinances of all governmental authorities having jurisdiction over the Property (collectively "Codes"). To the Transferor Members' knowledge, no governmental authority has a current plan, including without limitation, a condemnation, a widening change of grade or limitation on use of streets, a special assessment or a change in zoning classification, that would adversely affect the continued use and operation of the Property as currently used and operated except as would not have a Material Adverse Effect. The parties agree that all matters relating to compliance with Environmental Laws shall be covered by Section 5.20 and not by this Section 5.21.