Common use of Compliance with Laws and Agreements; No Default Clause in Contracts

Compliance with Laws and Agreements; No Default. (a) Each of the Borrowers and Significant Subsidiaries is in compliance with the requirements of all laws, rules and regulations and orders, writs and decrees of any Governmental Authority applicable to it or its properties, except to the extent that (i) failure to comply therewith could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect and (ii) such requirement is being contested in good faith by appropriate proceedings diligently conducted. Each Borrower is in compliance with all material Contractual Obligations to which such Borrower is a party or affecting such Borrower or the properties of such Borrower or any of its Subsidiaries, except to the extent that failure to comply therewith could not reasonably be expected to result in a Material Adverse Effect. (b) No Default has occurred and is continuing or would result from the consummation of the Transactions.

Compliance with Laws and Agreements; No Default. (a) Each of the Borrowers Loan Parties and their Significant Subsidiaries is in compliance with the requirements of all laws, rules and regulations and orders, writs and decrees of any Governmental Authority applicable to it or its properties, except to the extent that (i) failure to comply therewith could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect and (ii) such requirement is being contested in good faith by appropriate proceedings diligently conducted. Each Borrower Loan Party is in compliance with all material Contractual Obligations to which such Borrower Loan Party is a party or affecting such Borrower Loan Party or the properties of such Borrower Loan Party or any of its their respective Subsidiaries, except to the extent that failure to comply therewith could not reasonably be expected to result in a Material Adverse Effect. (b) No Default has occurred and is continuing or would result from the consummation of the Transactions.