Agreement or Contract Restrictions; No Default Clause Samples

The 'Agreement or Contract Restrictions; No Default' clause defines the requirement that a party is not currently in breach of any significant agreements and that entering into the present contract will not violate any existing contractual obligations. In practice, this means the party must confirm they are not subject to restrictions from other contracts that would prevent them from fulfilling their obligations under the new agreement, and that they are not in default under any material agreements. This clause helps ensure that all parties are legally able to enter into and perform the contract, thereby reducing the risk of future disputes or unenforceability due to conflicting obligations or existing defaults.
Agreement or Contract Restrictions; No Default. Neither the Borrower nor any of the Subsidiaries is a party to, or is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially and adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of the Borrower and the Restricted Subsidiaries, taken as a whole. The ability of the Borrower or any of its Restricted Subsidiaries to declare, make, or pay dividends in respect of any shares of its common stock is not expressly limited by the provisions of any agreement or instrument other than the Comerica Loan Agreement. Each of the Borrower and the Restricted Subsidiaries is in full compliance with and is not in default in the performance, observance, or fulfillment of any obligations, covenants, or conditions contained in any agreement or instrument to which it is a party, other than any defaults which individually or in the aggregate are not reasonably likely to materially adversely affect the business, earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole.
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Agreement or Contract Restrictions; No Default. Neither the Borrower nor any of the Subsidiaries is a party to, or is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially and adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of the Borrower and the Restricted Subsidiaries, taken as a whole. The ability of the Borrower or any of its Restricted Subsidiaries to declare, make, or pay dividends in respect of any shares of its common stock is not expressly limited by the provisions of any agreement or instrument other than the Comerica Loan Agreement and the Bank of America Loan Agreement. Each of the Borrower and the Restricted Subsidiaries is in full compliance with and is not in default in the performance, observance, or fulfillment of any obligations, covenants, or conditions contained in any agreement or instrument to which it is a party, other than any defaults which individually or in the aggregate are not reasonably likely to materially adversely affect the business, earnings, prospects, properties, or condition (financial or otherwise) of the Borrower and the Restricted Subsidiaries, taken as a whole.
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Agreement or Contract Restrictions; No Default. Borrower is not a party to, nor is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of Borrower except as disclosed in the financial statements and notes thereto described in Subsection 4.4 hereof. Borrower is in full compliance with and is not in default in the performance, observance, or fulfillment of any material obligation, covenant, or condition contained in any material agreement or instrument to which it is a party.
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Agreement or Contract Restrictions; No Default. Neither Borrower is a party to, nor is bound by, any agreement, contract, or instrument or subject to any charter or other corporate
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Agreement or Contract Restrictions; No Default. Neither the Borrower nor any of the Subsidiaries is a party to, or is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially and adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of the Borrower and the Restricted Subsidiaries, taken as a whole. The ability of the Borrower or any of its Restricted Subsidiaries to declare, make, or pay dividends in respect of any shares of its common stock is not expressly limited
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Agreement or Contract Restrictions; No Default. None of the Borrowers is a party to, nor is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which has resulted, or if the reasonable effect thereof were in fact realized as of the date hereof would result, in a Material Adverse Change in the business, properties, assets, operations, or condition, financial or otherwise, of any of the Borrowers as of the Closing Date. Each of the Borrowers is in full compliance in all material respects with and is not in default in the performance, observance, or fulfillment in any material respect of any obligations, covenants, or conditions contained in any material agreement or instrument to which it is a party.
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Agreement or Contract Restrictions; No Default. Neither Borrower nor Pledgor is a party to, nor is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially or adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of Borrower or Pledgor except as disclosed in the financial statements and notes thereto described in Subsection 6.1
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Agreement or Contract Restrictions; No Default. Borrower is not a party to, or is bound by, any agreement, contract, or instrument or subject to any charter or other corporate restriction which materially or adversely affects the business, properties, assets, operations, or condition, financial or otherwise, of Borrower. Borrower is in compliance with and is not in default in the performance, observance, or fulfillment of any obligations, covenants, or conditions contained in any agreement or instrument to which it is a party.
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Related to Agreement or Contract Restrictions; No Default

  • No Event of Default; Compliance with Instruments No event has occurred and is continuing and no condition exists or will exist after giving effect to the borrowings or other extensions of credit to be made on the Closing Date under or pursuant to the Loan Documents which constitutes an Event of Default or Potential Default. None of the Loan Parties or any Subsidiaries of any Loan Party is in violation of (i) any term of its certificate of incorporation, bylaws, certificate of limited partnership, partnership agreement, certificate of formation, limited liability company agreement or other organizational documents or (ii) any material agreement 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 would constitute a Material Adverse Change.

  • Obligations of Business Associate Upon Termination Upon termination of this Agreement for any reason, business associate shall return to covered entity or, if agreed to by covered entity, destroy all protected health information received from covered entity, or created, maintained, or received by business associate on behalf of covered entity, that the business associate still maintains in any form. Business associate shall retain no copies of the protected health information.

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • No Conflict; No Default Neither the execution, delivery and performance of this agreement nor the consummation by the party of the transactions contemplated in this agreement will conflict with, violate or result in a breach of (a) any law, regulation, order, writ, injunction, decree, determination or award of any governmental authority or any arbitrator, applicable to such party, (b) any term, condition or provision of the articles of incorporation, certificate of limited partnership, certificate of organization, bylaws, partnership agreement or limited liability company agreement (or other governing documents) of such party or of any material agreement or instrument to which such party is or may be bound or to which any of its material properties or assets is subject.

  • No Default; No Waiver Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or both, would constitute a default, breach, violation or event permitting acceleration under the terms of the Receivable had arisen as of the Cut-Off Date and the Seller has not waived any of the foregoing.