Common use of Buyer Permits Clause in Contracts

Buyer Permits. Prior to and on the Closing Date, subject to the receipt of the PECO Required Regulatory Approvals, PECO will hold all permits, certificates, licenses and other authorizations of all Governmental Authorities that PECO requires in order to own, lease, maintain and operate the Peach Bottom Station, including the Purchased Assets (collectively, "PECO Permits"), except, in each case, for (a) PECO Nuclear Permits (which are governed by Section 5.5) and (b) such failures to hold or comply with such PECO Permits as would not result in a Material Adverse Effect or would not, individually or in the aggregate, materially impair PECO's ability to consummate the transactions contemplated hereby.