Consents Defaults Clause Samples
The "Consents; Defaults" clause establishes the requirements for obtaining necessary approvals or permissions (consents) and addresses the consequences of failing to meet contractual obligations (defaults). In practice, this clause typically outlines which actions require prior written consent from one or more parties, such as assigning rights or making significant changes, and specifies what constitutes a default, such as missed payments or breaches of representations. Its core function is to ensure that all parties are aware of when consent is needed and what events trigger a default, thereby promoting transparency and providing a clear framework for managing breaches or unauthorized actions.
Consents Defaults. (i) GOVERNMENTAL AND THIRD PARTY APPROVALS. All necessary approvals, authorizations and consents, if any be required, of any Person and of all Governmental Authorities and courts having jurisdiction with respect to the transactions contemplated by this Agreement and the other Loan Documents shall have been obtained.
Consents Defaults. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain, or prohibit, or to obtain substantial damages in respect of, or which is related to or arises out of this Agreement or the other Loan Documents or the consummation of the transactions contemplated hereby or thereby, or which, in the Administrative Agent’s reasonable determination, would make it inadvisable to consummate the transactions contemplated by this Agreement or the other Loan Documents or the consummation of the transactions contemplated hereby or thereby.
Consents Defaults. A certificate of a Responsible Officer of the Borrower confirming on behalf of the Borrower that:
Consents Defaults. (i) No Injunction, Etc. No action, proceeding, investigation, ------------------- regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain, or prohibit, or to obtain substantial damages in respect of this Agreement or the other Loan Documents or the consummation of the transactions contemplated hereby or thereby.
Consents Defaults. The Credit Parties shall have received all material governmental, shareholder and third party consents and approvals necessary (or any other material consents as determined in the reasonable discretion of the Administrative Agent) in connection with:
(A) this Agreement and the other Loan Documents; and
(B) the transactions contemplated by the Online Resources Acquisition Documents (including, without limitation, the consent of the board of directors of Online Resources); and, in each case, all applicable waiting periods shall have expired without any action being taken by any Person that could reasonably be expected to restrain, prevent or impose any material adverse conditions on any of the Credit Parties or such other transactions or that could seek or threaten any of the foregoing, and no law or regulation shall be applicable which in the reasonable judgment of the Administrative Agent could reasonably be expected to have such effect.
Consents Defaults. The Credit Parties (including the New Credit Parties) shall have received all material governmental, shareholder and third party consents and approvals necessary (or any other material consents as determined in the reasonable discretion of the Administrative Agent) in connection with the transactions contemplated by this Agreement and the other Loan Documents and all applicable waiting periods shall have expired without any action being taken by any Person that could reasonably be expected to restrain, prevent or impose any material adverse conditions on any of the Credit Parties (including, without limitation, the New Credit Parties) or such other transactions or that could seek or threaten any of the foregoing, and no law or regulation shall be applicable which in the reasonable judgment of the Administrative Agent could reasonably be expected to have such effect.
Consents Defaults