Common use of Necessary Permits Clause in Contracts

Necessary Permits. Grantor owns, or otherwise has the right to use or is in possession of, all licenses, permits and government approvals or authorizations that are required by applicable law to occupy and conduct its operations on or in the Land and Improvements as currently conducted, except to the extent the lack of any such license, permit, approval or authorization would not reasonably be expected to materially adversely affect the occupancy of the Land or Improvements or any portion thereof, the operation or value of the Improvements or any portion thereof or the ability of Beneficiary or the Trustee as applicable to exercise their rights or remedies hereunder; and