Common use of Conflict with Agreements; Approvals Clause in Contracts

Conflict with Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, (i) conflict with or result in a breach of any provision of the Articles of Incorporation or Bylaws or other governing documents of Sierra; (ii) require any consent, approval, authorization or permit of, or filing with or notification to, any Governmental Entity by or with respect to Sierra, except as may be required under the Exchange Act and the applicable provision of the Nevada Revised Statutes; (iii) require any consent, waiver or approval, or result in a default, or give rise to any right of termination, cancellation, modification or acceleration, under any of the terms, conditions or provisions of any note, license, agreement, contract, indenture or other instrument or obligation to which Sierra is a party or by which any of its assets may be bound; (iv) result in the creation or imposition of any mortgage, lien, pledge, charge, security interest or encumbrance of any kind on any asset of Sierra or (v) violate any order, writ, injunction, decree, statute, rule or regulation applicable to Sierra or by which any of its assets is bound, except, in the cases of clauses (ii), (iii), (iv) and (v), violations that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on Sierra or on the ability of the parties to consummate the Exchange or the other transactions contemplated hereby.

Conflict with Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, , (i) conflict with or result in a breach of any provision of the Articles of Incorporation or Bylaws or other governing documents of Sierra; S2C; (ii) require any consent, approval, authorization or permit of, or filing with with, or notification to, any Governmental Entity by or with respect to SierraS2C, except as may be required under the Exchange Act and the applicable provision of the Nevada Revised Statutes; Canada Business Corporations Act; (iii) require any consent, waiver or approval, or result in a default, or give rise to any right of termination, cancellation, modification or acceleration, under any of the terms, conditions or provisions of any note, license, agreement, contract, indenture or other instrument or obligation to which Sierra S2C is a party or by which any of its assets may be bound; ; (iv) result in the creation or imposition of any mortgage, lien, pledge, charge, security interest or encumbrance of any kind on any asset of Sierra or S2C or (v) violate any order, writ, injunction, decree, statute, rule or regulation applicable to Sierra S2C or by which any of its assets is bound, except, in the cases of clauses (ii), (iii), (iv) and (v), violations that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on Sierra S2C or on the ability of the parties Parties to consummate the Exchange or the other transactions contemplated hereby.

Conflict with Agreements; Approvals. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, (i) conflict with or result in a breach of any provision of the Articles of Incorporation or Bylaws or other governing documents of SierraEYI; (ii) require any consent, approval, authorization or permit of, or filing with or notification to, any Governmental Entity by or with respect to SierraEYI, except as may be required under the HSR Act, the Exchange Act and the applicable provision of the Nevada Revised StatutesNRS; (iii) require any consent, waiver or approval, or result in a default, or give rise to any right of termination, cancellation, modification or acceleration, under any of the terms, conditions or provisions of any note, license, agreement, contract, indenture or other instrument or obligation to which Sierra EYI is a party or by which any of its assets may be bound; (iv) result in the creation or imposition of any mortgage, lien, pledge, charge, security interest or encumbrance of any kind on any asset of Sierra EYI or (v) violate any order, writ, injunction, decree, statute, rule or regulation applicable to Sierra EYI or by which any of its assets is bound, except, in the cases of clauses (ii), (iii), (iv) and (v), violations that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on Sierra EYI or on the ability of the parties to consummate the Exchange or the other transactions contemplated hereby.