Common use of Compliance with Law and Agreements; Maintenance of Licenses Clause in Contracts

Compliance with Law and Agreements; Maintenance of Licenses. Each Borrower shall, and shall cause each of its Subsidiaries to, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws). Each Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Date, except in each case where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Levi Strauss & Co), Credit Agreement (Levi Strauss & Co)

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Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shallshall comply, and shall cause each of its Subsidiaries toSubsidiary to comply, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and Act, all Environmental LawsLaws and the Patriot Act). Each The Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Closing Date, except in each case where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No The Borrower shall not modify, amend or alter its certificate or articles of incorporation, as applicable, incorporation other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 1 contract

Samples: Credit Agreement (Leapfrog Enterprises Inc)

Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shallshall comply, and shall cause each of its Subsidiaries toSubsidiary to comply, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws)Act) except where such non-compliance could not reasonably be expected to result in a Material Adverse Effect. Each The Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Date, Closing Date (except in each case where the failure to do so obtain or maintain such could not reasonably be expected to have result in a Material Adverse Effect). No The Borrower shall not modify, amend or alter its certificate or articles article of incorporation, as applicable, incorporation other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Merisel Inc /De/)

Compliance with Law and Agreements; Maintenance of Licenses. Each Borrower shall, and shall cause each of its Subsidiaries to, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws). Each Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Closing Date, except in each case where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 1 contract

Samples: Credit Agreement (Levi Strauss & Co)

Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shall, and shall cause each of its Restricted Subsidiaries to, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws). Each The Borrower shall, and shall cause each of its Restricted Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Closing Date, except in each case where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Levi Strauss & Co)

Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shallshall comply, and shall cause each of its Subsidiaries to, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental LawsLaws except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect). Each The Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Date, Closing Date except in each case where to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. No The Borrower shall not modify, amend or alter its certificate or articles of incorporation, as applicable, organization other than in a manner which does not adversely affect the rights of the Lenders or the AgentAgent with respect to the Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Timco Aviation Services Inc)

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Compliance with Law and Agreements; Maintenance of Licenses. Each The Borrower shallshall comply, and shall cause each of its Subsidiaries toSubsidiary to comply, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental LawsAct). Each The Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Date, except in each case where Closing Date for which the failure so to do so obtain or maintain could not reasonably be expected to have a Material Adverse Effect. No The Borrower shall not modify, amend or alter its certificate or articles article of incorporation, as applicable, incorporation other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

Compliance with Law and Agreements; Maintenance of Licenses. Each Borrower shallshall comply, and shall cause each of its Subsidiaries to, comply in all material respects respects, with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws), except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. Each Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Closing Date, except in each case where the failure to do so could not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the AgentAgent in any material respect.

Appears in 1 contract

Samples: Loan and Security Agreement (W R Grace & Co)

Compliance with Law and Agreements; Maintenance of Licenses. Each Borrower shallshall comply, and shall cause each of its Subsidiaries toSubsidiary to comply, comply in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all Environmental Laws). Each Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on the Amendment Closing Date, except in each case where the such failure to do so obtain or maintain could not reasonably be expected to have a Material Adverse Effect. No Borrower shall modify, amend or alter its certificate or articles of incorporation, or its limited liability company operating agreement or limited partnership agreement, as applicable, other than in a manner which does not adversely affect the rights of the Lenders or the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Miller Industries Inc /Tn/)

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