Licensing Approval Clause Samples
The Licensing Approval clause establishes the requirement that certain activities, products, or services must receive formal authorization or licenses from relevant authorities before proceeding. In practice, this clause may specify which party is responsible for obtaining the necessary licenses, outline the types of approvals needed, and set deadlines or conditions for securing them. Its core function is to ensure legal compliance and mitigate the risk of regulatory violations by making clear that operations cannot commence without the appropriate permissions.
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Licensing Approval. The Purchaser shall have obtained appropriate and unconditional licenses (or commitments to issue unconditional licenses) from all applicable licensing authorities, which licenses shall authorize the Purchaser to operate each Facility as an assisted living/independent living community in the same manner as such Facility is currently operated (and for at least the same number of beds/units as such Facility is currently licensed for), which licenses or commitments shall be satisfactory to the Purchaser in its reasonable discretion.
Licensing Approval. The applicable SNH Purchaser or TRS shall have obtained all Licenses and Permits from all applicable Governmental Authorities that are required to operate the Community on such Property as currently operated (the “Required Licenses”) or such assurances as may be satisfactory to SNH in its discretion that the Required Licenses will be issued by the applicable Governmental Authority on, or retroactively to, the Closing Date for such Property, which Required Licenses shall be satisfactory to SNH in its reasonable discretion.
Licensing Approval. Without limiting the Sellers’ obligations under Section 8.8, each Seller shall use best efforts to assist the Purchaser in obtaining appropriate licenses from the applicable licensing authorities which authorize the Purchaser to operate the Properties and the Facilities in the same manner and with the same number of units and beds as they are currently being operated. Without limiting the foregoing, each Seller shall provide the licensing authorities which such information as they may require in connection with the issuance of the new licenses to the Purchaser and such Seller shall sign any applications or other documents required by the applicable licensing authorities in connection with the issuance of such licenses. The Sellers’ obligations under this Section 8.9 shall survive the Closing.
Licensing Approval. The Company shall have received written approval of the Merger by the Cayman Islands Trade and Business Licensing Board.
Licensing Approval. Licensor warrants that it has complied with all applicable regulations and requirements necessary to the lawful pursuit of its enterprise.
Licensing Approval. To the FCH Parties’ knowledge, all liquor licenses currently in effect at the Hotels are in the name of IHG. Each Seller shall use best efforts to assist the Purchaser and/or IHG in obtaining appropriate licenses from the applicable licensing authorities which authorize the Purchaser to operate the Properties and the Hotels in the same manner and with the same number of keys as they are currently being operated. If a license to sell alcoholic beverages at the Hotel is in any Seller’s name and cannot be transferred to IHG by the Closing Date and IHG cannot obtain a new or temporary license by the Closing Date, then to the extent permitted by law Seller shall cooperate reasonably with IHG in maintaining the license on behalf of IHG and keeping open all bars, lounges and liquor facilities of the Hotels between the Closing Date and the time when such license is obtained by IHG by entering into a agreement for the continued operation of and under Seller’s liquor license mutually acceptable to Seller and IHG in their reasonable discretion. The Sellers’ obligations under this Section 8.9 shall survive the Closing.