Common use of Operating Permits Clause in Contracts

Operating Permits. The Group Members have obtained all licenses, permits, registrations, certificates and other approvals, governmental and otherwise (including, without limitation, zoning, building code, land use and environmental), reasonably necessary for the use, occupancy and operation of the Mortgaged Property and the conduct of its business thereat, all of which are in full force and effect as of the date hereof, except to the extent that the failure to obtain the same could not reasonably be expected to materially impair the use or value of the Mortgaged Property to which it relates. To each Borrower’s knowledge, no event or condition currently exists which could result in the revocation, suspension, or forfeiture thereof.

Operating Permits. The Group Members have obtained all licenses, permits, registrations, certificates and other approvals, governmental and otherwise (including, without limitation, zoning, building code, land use and environmental), reasonably necessary for the use, occupancy and operation of the Mortgaged Property and the conduct of its business thereat, all of which are in full force and effect as of the date hereof, except to the extent that the failure to obtain the same could not reasonably be expected to materially impair the use or value of the Mortgaged Property to which it relates. To each Borrower’s 's knowledge, no event or condition currently exists which could result in the revocation, suspension, or forfeiture thereof.