Common use of Compliance with the Laws and Agreements; No Defaults or Borrowing Base Deficiency Clause in Contracts

Compliance with the Laws and Agreements; No Defaults or Borrowing Base Deficiency. (a) Each of the Borrower and each Subsidiary is in compliance with all Governmental Requirements applicable to it or its Property and all agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. (b) Neither the Borrower nor any Subsidiary is in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default or would require the Borrower or a Subsidiary to Redeem or make any offer to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Indebtedness is outstanding or by which the Borrower or any Subsidiary or any of their Properties is bound. (c) No Default or Borrowing Base Deficiency has occurred and is continuing.

Compliance with the Laws and Agreements; No Defaults or Borrowing Base Deficiency. (a) Each of the Borrower and each Restricted Subsidiary is in compliance with all Governmental Requirements applicable to it or its Property and all agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. (b) Neither the Borrower nor any Restricted Subsidiary is in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default or would require the Borrower or a Restricted Subsidiary to Redeem or make any offer to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Indebtedness Debt is outstanding or by which the Borrower or any Restricted Subsidiary or any of their Properties is bound. (c) No Default or Borrowing Base Deficiency has occurred and is continuing.

Compliance with the Laws and Agreements; No Defaults or Borrowing Base Deficiency. (a) Each of the Borrower Parent and each Subsidiary the Restricted Subsidiaries is in compliance with all Governmental Requirements applicable to it or its Property and all agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. (b) Neither the Borrower Parent nor any Restricted Subsidiary is in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default or would require the Borrower Parent or a Restricted Subsidiary to Redeem or make any offer to Redeem under any indenture, note, credit agreement or similar instrument or agreement pursuant to which any Material Indebtedness is outstanding or by which the Borrower Parent or any Restricted Subsidiary or any of their Properties is bound. (c) No Default or Borrowing Base Deficiency has occurred and is continuing.