RELEVANT PROPERTY, WHICH INDIVIDUALLY OR IN THE AGGREGATE,
COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
(II)
EACH CREDIT PARTY:
(A) HAS OPERATED ITS
BUSINESS IN COMPLIANCE WITH ALL APPLICABLE ENVIRONMENTAL LAWS; (B) HAS OBTAINED
ALL ENVIRONMENTAL PERMITS REQUIRED BY APPLICABLE ENVIRONMENTAL LAWS FOR THE
OWNERSHIP AND OPERATION OF ITS PROPERTIES, AND ALL SUCH ENVIRONMENTAL PERMITS
ARE IN FULL FORCE AND EFFECT OR SUCH PERSON HAS MADE ALL APPROPRIATE FILINGS FOR
ISSUANCE OR RENEWAL OF SUCH ENVIRONMENTAL PERMITS; (C) IS NOT AWARE OF ANY ACTS,
OMISSIONS, EVENTS OR CIRCUMSTANCES THAT MAY INTERFERE WITH OR PREVENT CONTINUED
COMPLIANCE WITH THE ENVIRONMENTAL LAWS AND ENVIRONMENTAL PERMITS REFERRED TO IN
THE PRECEDING CLAUSES (A) AND (B); (D) HAS NOT RECEIVED WRITTEN NOTICE OF ANY
ASSERTED OR THREATENED CLAIM, ACTION, SUIT, PROCEEDING, HEARING, INVESTIGATION
OR WRITTEN REQUEST FOR INFORMATION RELATING TO ANY ENVIRONMENTAL MATTER; AND
(E) HAS NOT RECEIVED NOTICE FROM ANY GOVERNMENTAL BODY THAT ANY CREDIT PARTY IS
A POTENTIALLY RESPONSIBLE PARTY UNDER ANY ENVIRONMENTAL LAW AT ANY DISPOSAL SITE
CONTAINING HAZARDOUS MATERIALS, NOR DOES THERE EXIST ANY LIEN UNDER ANY
ENVIRONMENTAL LAW AGAINST ANY PROPERTY OF ANY CREDIT PARTY, EXCEPT IN EACH CASE
OF (A) THROUGH (E) ABOVE, FOR SUCH MATTERS THAT, INDIVIDUALLY OR IN THE
AGGREGATE, COULD NOT REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
(R)
INSURANCE.
THE POLICIES, BINDERS OR
SELF-INSURANCE PROGRAMS FOR FIRE, LIABILITY, PRODUCT LIABILITY, WORKMEN'S
COMPENSATION, VEHICULAR AND OTHER INSURANCE CURRENTLY HELD BY OR ON BEHALF OF
EACH CREDIT PARTY INSURE THEIR RESPECTIVE MATERIAL PROPERTIES AND BUSINESS
ACTIVITIES AGAINST SUCH LOSSES AND RISKS AS ARE ADEQUATE TO PROTECT ITS
PROPERTIES IN ACCORDANCE WITH CUSTOMARY INDUSTRY PRACTICE WHEN ENTERED INTO OR
RENEWED.
AS OF THE DATE HEREOF, ALL SUCH POLICIES, BINDERS AND SELF-INSURANCE
PROGRAMS ARE IN FULL FORCE AND EFFECT.
AS OF THE DATE HEREOF, NO CREDIT PARTY
HAS RECEIVED NOTICE FROM ANY INSURER OR AGENT OF SUCH INSURER THAT SUBSTANTIAL
CAPITAL IMPROVEMENTS OR OTHER EXPENDITURES ARE REQUIRED.
AS OF THE DATE HEREOF,
NO CREDIT PARTY HAS RECEIVED NOTICE OF CANCELLATION OF ANY MATERIAL INSURANCE
POLICY OR BINDER.
(S)
INTELLECTUAL PROPERTY.
EACH CREDIT PARTY
OWNS OR LICENSES OR OTHERWISE HAS THE RIGHT TO USE ALL INTELLECTUAL PROPERTY
NECESSARY FOR THE OPERATION OF ITS BUSINESS AS PRESENTLY CONDUCTED.
AS OF THE
DATE HEREOF, THE CREDIT PARTIES DO NOT HAVE ANY INTELLECTUAL PROPERTY
REGISTERED, OR SUBJECT TO PENDING APPLICATIONS, IN THE UNITED STATES PATENT AND
TRADEMARK OFFICE OR ANY SIMILAR OFFICE OR AGENCY IN THE UNITED STATES, ANY STATE
THEREOF, ANY POLITICAL SUBDIVISION THEREOF OR IN ANY OTHER COUNTRY, OTHER THAN
THOSE DESCRIBED IN SCHEDULE 4.1(S) AND HAVE NOT GRANTED ANY LICENSES WITH
RESPECT THERETO OTHER THAN AS SET FORTH IN SCHEDULE 4.1(S).
TO THE KNOWLEDGE OF
THE CREDIT PARTIES, NO EVENT HAS OCCURRED WHICH PERMITS OR WOULD PERMIT AFTER
NOTICE OR PASSAGE OF TIME OR BOTH, THE REVOCATION, SUSPENSION OR TERMINATION OF
SUCH RIGHTS.
EXCEPT AS SET FORTH ON SCHEDULE 4.1(S), TO THE KNOWLEDGE OF ANY
CREDIT PARTY, NO SLOGAN OR OTHER
47
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