Compliance with Laws; No Defaults. (a) DTLL is not in violation of any provisions of any law or regulation or in violation of any judgment, injunction, order or decree binding upon or applicable to DTLL, except for violations that have not had and would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on DTLL. (b) Neither DTLL nor any officer, director or employee of DTLL has made any payment of funds of DTLL, or purchased any property with funds of DTLL, in a manner prohibited by law and no funds of DTLL or property purchased with the funds of DTLL have been set aside to be used for any payment prohibited by law. DTLL has not made, offered or agreed to offer anything of value to any government official, political party or candidate for political office (or any person that DTLL knows or has reason to know will offer anything of value to any such person) in violation of the Foreign Corrupt Practices Act of 1977, as amended. (c) DTLL is not in default, nor has it been notified by any other party that it is in default, under any material contract, and, to the best knowledge of DTLL, no other party to any such contract is in default thereunder. DTLL has not received notice that any party to any material contract intends to cancel or terminate any such agreement.
Appears in 4 contracts
Samples: Stock Purchase Agreement (DTLL Inc), Stock Purchase Agreement (DTLL Inc), Stock Purchase Agreement (Island Residences Club, Inc.)