Common use of COMPLIANCE WITH OTHER INSTRUMENTS, NONE BURDENSOME, ETC Clause in Contracts

COMPLIANCE WITH OTHER INSTRUMENTS, NONE BURDENSOME, ETC. The Company is not in violation of any term of its Articles or By-Laws, or, in any material respect, of any term or provision of any mortgage, indebtedness, indenture, contract, security agreement, agreement, instrument, judgment or decree, and, to the best of its knowledge, is not in violation of any order, statute, rule or regulation applicable to the Company where such violation would materially and adversely affect the Company. The execution, delivery and performance of and compliance with this Agreement, and the issuance of the Series B Preferred and the Conversion Stock has not resulted and will not result in any violation of, or conflict with, or constitute a default (or an event that might, with the passage of time or the giving of notice or either of them, constitute a default) under any of the terms of, result in the termination of, result in the loss of any right under, or give to any other person the right to cause such a termination of or loss under, and will be in compliance with, the Company's Articles, By-Laws and all of its agreements, permits and licenses or any provision of federal, state, local or foreign statute rule ordinance or regulation applicable to the Company or result in the creation of, any mortgage, pledge, lien, encumbrance or charge upon any of the capital stock, properties or assets of the Company or the creation, maturation or acceleration of any liability or obligation of the Company (or give to any other person the right to cause such a creation, maturation or acceleration); and there is no such violation or default which adversely affects the business of the Company or any of its properties or assets.

COMPLIANCE WITH OTHER INSTRUMENTS, NONE BURDENSOME, ETC. The Company is not in violation of any term of its Articles or By-Laws, or, in any material respect, of any term or provision of any mortgage, indebtedness, indenture, contract, security agreement, agreement, instrument, judgment or decree, and, to the best of its knowledge, is not in violation of any order, statute, rule or regulation applicable to the Company where such violation would materially and adversely affect the Company. The execution, delivery and performance of and compliance with this Agreement and the Option Agreement, and the issuance of the Series B Preferred Common Stock, the Option and the Conversion Stock has Option Shares have not resulted and will not result in any violation of, or conflict with, or constitute a default (or an event that might, with the passage of time or the giving of notice or either of them, constitute a default) under any of the terms of, result in the termination of, result in the loss of any right under, or give to any other person the right to cause such a termination of or loss under, under and will be in compliance with, the Company's Articles, By-Laws and all of its agreements, permits and licenses or any provision of federal, state, local or foreign statute rule ordinance or regulation applicable to the Company or result in the creation of, any mortgage, pledge, lien, encumbrance or charge upon any of the capital stock, properties or assets of the Company in the creation, maturation or acceleration of any liability or obligation of the Company or the creation, maturation or acceleration of any liability or obligation of the Company (or give to any other person the right to cause such a creation, maturation or acceleration); ) and there is no such violation or default which adversely affects the business of the Company or any of its properties or assets.