Regulatory Licenses Clause Samples

Regulatory Licenses. Prosensa shall hold the licenses issued in respect of Regulatory Approval submissions made pursuant to this Agreement. Each Party shall have an irrevocable right of access and reference, during the term of this Agreement, to such Regulatory Approval licenses for uses set forth in or consistent with this Agreement.

Regulatory Licenses. If any Material Regulatory License with respect to Arizona, Maryland, Minnesota and New York ceases to be valid, subsisting and in good standing, if any Borrower operating in any of the foregoing States is not permitted to use a Material Regulatory License in such State or if any Material Regulatory License is withdrawn, cancelled, suspended or adversely amended in a manner that would reasonably be expected to result in a Material Adverse Effect.

Regulatory Licenses. No Loan Party shall, or shall permit any of its Subsidiaries to, operate its businesses other than in accordance with applicable Legal Requirements with respect to, and the terms and conditions of, the Regulatory Licenses, unless such failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. No Loan Party shall fail, or shall permit any of its Subsidiaries to fail, to file any report or application or pay any regulatory or filing fee pertaining to its businesses which is required to be filed with or paid to any Governmental Authority pursuant to applicable Legal Requirements, unless such failure to file a report or pay any regulatory or filing fee would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. No Loan Party shall, or shall permit any of its Subsidiaries to, take any action that could reasonably be expected to result in a Governmental Authority instituting any proceedings for the cancellation, revocation, non-renewal, short-term renewal or adverse modification of any Regulatory License, unless such proceedings would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or take or permit to be taken any other action within its control that could reasonably be expected to result in non-compliance in any respect with applicable Legal Requirements with respect to any Regulatory License, except where the failure to be in compliance would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. Each Loan Party shall ensure that no Company other than a License Subsidiary that is a Loan Party shall own any interest in any Regulatory License.

Regulatory Licenses. Any Material Regulatory License shall cease to be valid, subsisting and in good standing for a period of 30 days beyond any grace period provided for by the applicable Governmental Authority unless such status is being diligently contested in good faith by appropriate proceedings and the applicable Credit Party and the applicable Business are able to continue operations in accordance with Applicable Law while such status is being contested; or if any other Permit material to the business of the Credit Parties is withdrawn, cancelled, suspended or amended and such 107 21029590V.1 withdrawal, cancellation, suspension or amendment of such other Permit would reasonably be expected to result in a Material Adverse Effect if such other Permit was not ultimately reinstated, replaced, or beneficially amended, and such other Permit is not so reinstated, replaced, or beneficially amended within 30 days from the later of the date of such withdrawal, cancellation, suspension or amendment and the last day of any grace period provided for by the applicable Governmental Authority for such reinstatement, replacement, or beneficial amendment, unless such status is being diligently contested in good faith by appropriate proceedings and the applicable Credit Party and the applicable Business are able to continue operations in accordance with Applicable Law while such status is being contested.

Regulatory Licenses. The Company shall use its best efforts to obtain all the requisite regulatory licenses and permits for purposes of carrying out the Business legitimately.

Regulatory Licenses. Between the date of this Agreement and the earlier of the consummation of the Merger or the termination of this Agreement in accordance with Article VIII, the Company shall use its reasonable efforts to maintain in full force and effect each of the FCC License, CAPUC License, NYPSC License and NJBPU License.

Regulatory Licenses. Borrower shall deliver to Lender copies of any and all required Governmental Approvals, including but not limited to all Regulatory Licenses, required to operate a Cannabis Business as part of the Harmony Assets, prior to the commencement of any such operation.

Regulatory Licenses. Lender shall have received confirmation of the Regulatory Licenses;

Regulatory Licenses. 16.1. Each member of the Company Group possesses all licenses, certificates, approvals, authorizations and permits issued by the appropriate local and foreign regulatory authorities necessary to conduct its businesses as it is currently engaged in and in the manner in which such business is now carried on (the “Licenses”), either by itself or through a business partner, contractor or service provider of such member (each an “Intermediary”, and which will then carry out the activities being regulated in the relevant jurisdiction, either as a part or the whole of the business that such member is currently engaged in, under a separate agreement). 16.2. All such Licenses are valid and subsisting, and the Company is not aware of any reason why any of such Licenses should be suspended, cancelled, or revoked, or should not be renewed or reissued upon or prior to their expiry. 16.3. Each agreement with an Intermediary is lawful, valid and enforceable at all material times under the applicable law, and the performance of each such agreement by the parties thereto does not and will not violate any applicable law.