Mutual Condition. The obligations of each of the Parties to consummate the purchase and sale of the Interest and the other transactions contemplated by this Agreement shall be subject to the following conditions: (i) no temporary restraining order, preliminary or permanent injunction or other order or decree which prevents the consummation of the purchase and sale of the Interest and the other transactions contemplated by this Agreement shall have been issued and remain in effect, and (ii) no statute, rule or regulation shall have been enacted by any state or federal government or governmental agency which would prevent the consummation of the purchase and sale of the Interest and the other transactions contemplated by this Agreement.
Appears in 3 contracts
Sources: Purchase and Sale Agreement (CNL Hotels & Resorts, Inc.), Purchase and Sale Agreement (CNL Hotels & Resorts, Inc.), Purchase and Sale Agreement (Hersha Hospitality Trust)