Common use of Permits and Other Operating Rights Clause in Contracts

Permits and Other Operating Rights. Except as set forth on Schedule 2.21, to the best knowledge of MSGI after conducting diligent inquiry, MSGI does not (a) require the consent of any third party to permit it to operate its business in the manner in which it presently is being conducted, except as heretofore obtained and presently in effect, (b) MSGI possesses all permits and other authorizations from third parties, including without limitation, federal, foreign, state and local governmental authorities, presently required by applicable provisions of law, including statutes, regulations and existing judicial decisions, and by the property and contract rights of third parties, necessary to permit them to operate their businesses in the manner in which they presently are being conducted, or in which it is contemplated that they will be conducted, except where the failure to obtain such permits or authorizations would not, in the aggregate, result in a Material Adverse Effect and (c) none of the permits and authorizations are dependent on retention of any person, organization, agent or employee or the maintenance of any relationship or arrangement, other than performance of contractual obligations under contracts disclosed elsewhere herein.