Construction Permit. The Construction Permit has been validly issued and on the date hereof, Seller is the authorized legal holder thereof and on the Initial Closing Date, the Company will be the authorized legal holder thereof. The Construction Permit is in full force and effect and is not subject to any restriction or condition that would delay or adversely affect the construction of the Station. Seller and the Company are in compliance in all material respects with the Construction Permit and all laws, regulations, and rules, including the Communications Act. Each of Seller and the Company have filed all returns, reports and statements required to be filed in connection with the Construction Permit.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Paxson Communications Corp), Stock Purchase Agreement (Paxson Communications Corp)