Absence of Defaults, etc. The Borrower is not (i) in material default under any indenture or contract or agreement to which it is a party or by which it is bound, (ii) in violation of its articles of incorporation or code of regulations, as applicable, or any other governing document, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. MBIA is not in violation of any provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to MBIA or of the charter or by-laws of MBIA, or in default under any material indenture, agreement, lease or instrument to which it is a party or by which it or any of its properties may be subject or bound where such violation or default may result in a material adverse effect on the business, assets, operations or financial condition of MBIA or on its ability to perform its obligations under this Agreement or any other Loan Document.
Absence of Defaults, etc. The Company is not in default or alleged to be in default under any material contract, agreement, lease or document to which it or any of its properties or assets is bound. The Company and its properties and assets are in compliance in all material respects with all applicable statutes, laws, ordinances, rules and regulations of all Governmental Bodies, and all filing requirements relating thereto.
Absence of Defaults, etc. Company is not (i) in material default under any indenture or contract or agreement to which it is a party or by which it is bound; (ii) in violation of its Certificate of Incorporation or By-Laws, each as amended to date; (iii) in default with respect to any order, writ, injunction or decree of any court; or (iv) in default under any order or license of any federal or state governmental department, which default or violation in any of the aforesaid cases materially and adversely affects its business or property. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. The Borrower is not (i) in default under any indenture or material contract or material agreement to which it is a party or by which it is bound, (ii) in violation of its Certificate of Incorporation or Bylaws, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department, which default or violation in any of the aforesaid cases materially and adversely affects its business or property. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. The Borrower is not (i) in material default under any indenture or contract or agreement to which it is a party or by which it is bound, (ii) in violation of its articles of incorporation or bylaws, or any other governing document, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. The Company is not (i) in material ------------------------ default under any indenture or contract or agreement to which it is a party or by which it is bound, (ii) in violation of its Organizational Documents, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department, which default or violation in any of the aforesaid cases materially and adversely affects its business or property. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. Borrower is not (i) in material default under any indenture or contract or agreement to which it is a party or by which it is bound, (ii) in violation of its articles of incorporation or by-laws, each as amended, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department, which default or violation in any of the aforesaid cases materially and adversely affects its respective business or property. There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. The Borrower is not (i) in material default under any indenture or contract or agreement to which it is a party or by which it is bound, (ii) in violation of its articles of incorporation or by -laws, as applicable, or any other governing document, (iii) in default with respect to any order, writ, injunction or decree of any court, or (iv) in default under any order or license of any federal or state governmental department, which in the case of any such default described in clauses (i) through and including (iv) has had or could be reasonably expected to have Material Adverse Effect . There exists no condition, event or act which constitutes, or after notice or lapse of time or both would constitute, an Event of Default.
Absence of Defaults, etc. Neither MVR nor Unijoh is in default, and neither has received any notice of any alleged material default, under any contract, agreement, indenture, lease or other commitment to which it is a party or by which it or any of its assets is bound and, to the best knowledge of the Transferors, no other party to any such contract, agreement, indenture, lease or other commitment is in material default thereunder. To the best knowledge of the Transferors, neither MVR nor Unijoh has violated, in any material respect, or received notice of any alleged material violation of, any applicable law, regulation or ordinance relating to its operations or assets. All material licenses and permits required in connection with the operation of MVR's business and Unijoh's business have been issued and are in full force and effect.
