Common use of Necessary Licenses Clause in Contracts

Necessary Licenses. Each of the Servicer and the Borrower shall obtain and maintain all necessary licenses, permits and charters required to be obtained by the Servicer and the Borrower, respectively, which failure to obtain would render any portion of the Loan Documents unenforceable and would have a Material Adverse Effect on any of the Secured Parties.

Necessary Licenses. Each of the Servicer and the Borrower shall obtain and maintain all necessary licenses, permits and charters required to be obtained by the Servicer and the Borrower, respectively, which failure to obtain would render any portion of the Loan Related Documents unenforceable and would have a Material Adverse Effect material adverse effect on any of the Secured Parties.