Permit Transfer Applications and Replacement Bonds Sample Clauses

Permit Transfer Applications and Replacement Bonds. Promptly after the Closing Date, the Company shall or shall cause TMI to: (i) submit to the appropriate governmental authorities all applications and documents to transfer all transferable Permits to the Company or TMI, as the case may be, as the sole permittee and to obtain replacement permits for all non-transferable Permits; and (ii) obtain (or transfer) bonds issued by a nationally recognized surety company to replace the Bonds (the "Replacement Bonds"). The Company shall use commercially reasonable efforts to ensure that all such Permits have been validly issued to the Company or TMI, as the case may be, as the sole permittee as promptly as practical after the Closing and that all Replacement Bonds have been accepted by the appropriate governmental authority as promptly as practical after the Closing. In the event that the Company or TMI is unable to ensure the transfer of or obtain, as the case may be, such Permits by Closing, or any governmental authority has not accepted the Replacement Bonds as of the Closing, the Company shall indemnify and hold AEI harmless from any loss, damage, cost, expense or liability that AEI suffers in connection with (A) holding any Permit as agent for, or for the benefit of, the Company or TMI, and (B) maintaining any Bond in full force and effect after the Closing, including, without limitation, liability arising from the Company's or TMI's operations relating to any such Bond.
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Related to Permit Transfer Applications and Replacement Bonds

  • Replacements and Replacement Reserve (a) Borrower shall cause Mortgage Borrower to comply with all of the terms and conditions set forth in Section 7.3 of the Mortgage Loan Agreement.

  • Assignment and Replacement The Servicer acknowledges and agrees that in the event that the Master Servicer resigns as Master Servicer under this Agreement, any successor master servicer has the right to assume the Master Servicer's rights and obligations and to enforce the Servicer's obligations under this Agreement.

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  • Registration of Equipment Notes in Name of Subordination Agent The Trustee agrees that all Equipment Notes to be purchased by the Trust shall be issued in the name of the Subordination Agent or its nominee and held by the Subordination Agent in trust for the benefit of the Certificateholders, or, if not so held, the Subordination Agent or its nominee shall be reflected as the owner of such Equipment Notes in the register of the issuer of such Equipment Notes.

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