Common use of Lawfully Operating Clause in Contracts

Lawfully Operating. Except as set forth in the Disclosure Memorandum, ▇▇▇▇▇▇ and each ▇▇▇▇▇▇ Subsidiary have been and currently are conducting their business, and the Property has been and now is being used and operated, in compliance with all statutes, regulations, laws, orders, covenants, restrictions or plans of federal, state, regional, county or municipal authorities, agencies or board applicable to the same.

Lawfully Operating. Except as set forth in the Disclosure Memorandum, Schu▇▇▇▇ ▇▇▇ and each Schu▇▇ ▇▇▇▇▇▇ Subsidiary bsidiary have been and currently are conducting their business, and the Property has been and now is being used and operated, in compliance with all statutes, regulations, laws, orders, covenants, restrictions or plans of federal, state, regional, county or municipal authorities, agencies or board applicable to the same.