Examples of BIP Entities in a sentence
No labor dispute with the employees of any of the BIP Entities or the Guarantors exists or, to the knowledge of BIP or the Guarantors is imminent, and neither BIP nor the Guarantors is aware of any existing or imminent labor disturbance by the employees of any of the BIP Entities’ or the Guarantors’ principal suppliers, manufacturers, customers or contractors, which, in either case, would result in a Material Adverse Effect.
The BIP Entities are presently in material compliance with all applicable laws or statutes and all applicable judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority having jurisdiction over the BIP Entities, and all internal policies and contractual obligations relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation or modification.
Since April 24, 2019, the BIP Entities and their subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country, in each case, in violation of applicable Sanctions.
The charges, accruals and reserves on the books of each of the BIP Entities and the Guarantors in respect of any income and corporation tax liability for any years not finally determined are adequate to meet any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Effect.
Except as disclosed in documents incorporated by reference into the Disclosure Package and the Prospectus, there are no outstanding loans, advances (except normal advances for business expense in the ordinary course of business) or guarantees or indebtedness by any of the BIP Entities or the Guarantors, to or for the benefit of any of the officers or directors of any of the BIP Entities or the Guarantors or any of their respective family members.
Each of the BIP Entities and the Guarantors has no reason to believe that they will not be able to (A) renew existing insurance coverage as and when such policies expire; or (B) obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not have a Material Adverse Effect.
None of the BIP Entities or the Guarantors has been denied any insurance coverage, which it has sought or for which it has applied.
Each of the BIP Entities and the Guarantors carries or is entitled to the benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as management believes is appropriate for an entity engaged in the business of the BIP Entities and the Guarantors, and all such insurance is in full force and effect, except, in each case, where the failure to possess would not, singly or in the aggregate, result in a Material Adverse Effect.