Definition of Legal Restriction
Examples of Legal Restriction in a sentence
The Borrower shall repay the Default Amount, with accumulated interest pursuant to Section 1.2.2, within 30 days after any Legal Restriction is removed.
Each of the Company and its Subsidiaries have complied with all Applicable Laws and have not received any written notice that any Legal Action or Legal Restriction has been filed or commenced against any of them nor have they received notice alleging any noncompliance.
The Company (a) is not subject to any outstanding Legal Restriction and (b) is not a party to, and, to Sellers’ Knowledge, is not threatened to be made a party to, any Legal Action by or before any Governmental Authority.
The Borrower shall repay the Default Amount, with accumulated interest pursuant to Section 1.2, within 30 days after any Legal Restriction is removed.
There must not have been commenced against any Party any Legal Action or Legal Restriction that reasonably could (x) result in material damages or other relief in connection with the Transactions or adversely affect Parent’s ownership of the shares of Company Stock or operation of the business of the Company and its Subsidiaries or (ii) prevent, delay, make illegal or otherwise interfere with the Transactions.