Common use of Use of Real Property Clause in Contracts

Use of Real Property. The Company does not own any real -------------------- property. Except as set forth on Schedule 5.10, the leased real properties ------------- reflected on the Pro Forma Balance Sheet or used in connection with the business of the Company and its Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the Company; neither the Company nor any of its Subsidiaries has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of either the Company or any of its Subsidiaries; and there is no such violation. Except as set forth on Schedule -------- 5.10, all plants and other buildings that are covered by leases reflected on the ---- Pro Forma Balance Sheet or used in connection with the business of the Company and its Subsidiaries, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leased real properties used in connection with the business of the Company and its Subsidiaries are in full force and effect and the Company enjoys peaceful and undisturbed possession thereunder. There is no material default on the part of the Company or any of its Subsidiaries or event or condition which with notice or lapse of terms, or both, would constitute a material default on the part of the Company or any of its Subsidiaries under any of such leases.

Appears in 1 contract

Sources: Securities Purchase Agreement (Bankvest Capital Corp)

Use of Real Property. The Company does not own any real -------------------- property. Except as set forth on Schedule 5.10, the owned and leased real properties ------------- reflected on the Pro Forma Balance Sheet or used in connection with the business respective businesses of the each Company and its SubsidiariesSubsidiary, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the CompanyCompanies; neither the any Company nor any of its Subsidiaries Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of either the any Company or any of its SubsidiariesSubsidiary; and there is no such violation. Except as set forth on Schedule -------- 5.10, all plants and other buildings that are owned or covered by leases reflected on the ---- Pro Forma Balance Sheet or used in connection with the business of the any Company and its Subsidiariesor Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leased leases for real properties reflected on the Pro Forma Balance Sheet or used in connection with the business of the any Company and its Subsidiaries or Subsidiary are in full force and effect and the each Company and Subsidiary enjoys peaceful and undisturbed possession thereunder. There is no material default on the part of the any Company or any of its Subsidiaries Subsidiary or event or condition which with notice or lapse of terms, or both, would constitute a material default on the part of the any Company or any of its Subsidiaries Subsidiary under any of such leases.

Appears in 1 contract

Sources: Stock Purchase Agreement (Spectrasite Holdings Inc)

Use of Real Property. The Company does not own any real -------------------- property. Except as set forth on Schedule 5.10, the owned and leased real properties ------------- reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of the Company and its Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, in the aggregate, materially adversely affect the Condition of the Company; neither the Company nor any of its Subsidiaries Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of either the Company or any of its SubsidiariesSubsidiary; and there is no such violation. Except as set forth on Schedule -------- 5.10, all plants and other buildings that are owned or covered by leases reflected on the ---- Pro Forma Balance Sheet Financial Statements or used in connection with the business of the Company and its Subsidiariesor any Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each of the leased leases for real properties reflected on the Financial Statements or used in connection with the business of the Company and its Subsidiaries are or any Subsidiary is in full force and effect and the Company enjoys and its Subsidiaries enjoy peaceful and undisturbed possession thereunder. There is no material default on the part of the Company or any of its Subsidiaries Subsidiary or event or condition which with notice or lapse of terms, or both, would constitute a material default on the part of the Company or any of its Subsidiaries Subsidiary under any of such leases.

Appears in 1 contract

Sources: Stock Purchase Agreement (Spectrasite Holdings Inc)

Use of Real Property. The Company does not own any real -------------------- property. Except as set forth on Schedule 5.10, the owned and leased real properties ------------- reflected on the Pro Forma Balance Sheet Financial Statements or used in connection with the business of the Company and its Subsidiaries, are used and operated in compliance and conformity with all applicable leases, contracts, commitments, licenses and permits, to the extent that the failure so to conform would, individually or in the aggregate, materially adversely affect the Condition of the Company; neither the Company nor any of its Subsidiaries Subsidiary has received notice of violation of any applicable zoning or building regulation, ordinance or other law, order, regulation or requirement relating to the operations of either the Company or any of its SubsidiariesSubsidiary; and there is no such violation. Except as set forth on Schedule -------- 5.10, all plants and other buildings that are owned or covered by leases reflected on the ---- Pro Forma Balance Sheet Financial Statements or used in connection with the business of the Company and its Subsidiariesor any Subsidiary, substantially conform with all applicable ordinances, codes, regulations and requirements, and no law or regulation presently in effect or condition precludes or materially restricts continuation of the present use of such properties. Each Except as set forth on Schedule 5.10, each of the leased leases for real properties reflected on the Financial Statements or used in connection with the business of the Company and its Subsidiaries are or any Subsidiary is in full force and effect and the Company enjoys and its Subsidiaries enjoy peaceful and undisturbed possession thereunder. There is no material default on the part of the Company or any of its Subsidiaries Subsidiary or event or condition which with notice or lapse of termstime, or both, would constitute a material default on the part of the Company or any of its Subsidiaries Subsidiary under any of such leases.

Appears in 1 contract

Sources: Stock Purchase Agreement (Regent Communications Inc)