Common use of Authority of Micronetics Clause in Contracts

Authority of Micronetics. Micronetics has the full corporate authority to enter into the Agreement and to carry out the terms of the Agreement. Neither the execution nor delivery of the Agreement, by Micronetics, nor performance thereunder will result in a violation or breach of any term or provision nor constitute a default under any indenture, mortgage, deed of trust or other contract or agreement to which Micronetics is a party. Except as provided herein or in a schedule attached hereto, no consent of any party to any such agreement or instrument is required for the execution, delivery or performance of this Agreement, and the consummation of the transactions contemplated hereby will not result in a breach of, or give rise to a right of cancellation of, any such agreement or instrument.

Authority of Micronetics. Micronetics has the full corporate authority to enter into the Agreement and the Note and to carry out the terms of the AgreementAgreement and Note. Neither the execution nor delivery of the AgreementAgreement or the Note, by Micronetics, nor performance thereunder will result in a violation or breach of any term or provision nor constitute a default under any indenture, mortgage, deed of trust or other contract or agreement to which Micronetics is a party. Except as provided herein or in a schedule attached hereto, no consent of any party to any such agreement or instrument is required for the execution, delivery or performance of this Agreement, and the consummation of the transactions contemplated hereby will not result in a breach of, or give rise to a right of cancellation of, any such agreement or instrument.