The car will more than likely use more fuel then it should and you might see more black exhaust smoke because of it, but you should be okay.
(edit) Remember the rule of thumb with those codes when you start to repair the car. Fix the first thing that the codes give you as a problem because the first thing that is showing a failure code on can be making the other things look bad to the ECM. Replace the first part, clear the codes, and drive the car to see if you get the second code back. If you don't want to clear the codes you can drive the car a while and if the other parts are okay the ECM should clear the Check Engine light itself. (end edit)