Common use of Contract Defaults Clause in Contracts

Contract Defaults. Seller is not in default in any material respect under any of the Contracts, the Contracts are legal, valid and binding obligations of the Seller in accordance with their terms and have not been amended, no defenses, offsets or counterclaims thereto have been asserted by any party thereto other than Seller, and Seller has waived no substantial rights thereunder.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Fullnet Communications Inc), Asset Purchase Agreement (Fullnet Communications Inc)

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Contract Defaults. Except as disclosed on SCHEDULE 3.7 or in other written communications between Seller and Xxxxx or Buyer, Seller is not in default in any material respect under any of the Contracts, the Contracts are legal, valid and binding obligations of the Seller respective parties thereto in accordance with their terms and have not been amended, no defenses, offsets or counterclaims thereto have been asserted or may be made by any party thereto other than Seller, and Seller has waived no substantial rights thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cd Warehouse Inc)

Contract Defaults. Seller is not in default in any material respect under any of the ContractsContract, the and such Contracts are legal, valid and binding obligations of the Seller respective parties thereto in accordance with their terms and and, except to the extent reflected in Schedule 3.7, have not been amended, ; and no defenses, offsets or counterclaims thereto have been asserted or to the best knowledge of Seller, may be made, by any party thereto other than Seller, and Seller nor has Seller waived no any substantial rights thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ct Holdings Inc)

Contract Defaults. Seller is not in default in any material respect under any of the Contracts----------------- Material Contract, the and such Material Contracts are legal, valid and binding obligations of the Seller respective parties thereto in accordance with their terms and and, except to the extent reflected in Schedule 3.8, have not been amended, ; and ------------ no defenses, offsets or counterclaims thereto have been asserted or, to the best knowledge of Seller and Shareholder, may be made by any party thereto other than Seller, and nor has Seller has waived no any substantial rights thereunder.

Appears in 1 contract

Samples: Assumption Agreement (Halter Marine Group Inc)

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Contract Defaults. Except as disclosed on SCHEDULE 3.7 or in other written communications between Seller or Xxxx and Buyer, Seller is not in default in any material respect under any of the Contracts, the Contracts are legal, valid and binding obligations of the Seller respective parties thereto in accordance with their terms and have not been amended, no defenses, offsets or counterclaims thereto have been asserted or may be made by any party thereto other than Seller, and Seller has waived no substantial rights thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cd Warehouse Inc)

Contract Defaults. Seller is not in default in any material respect under any of the Contracts, the Contracts are Contract. The Contract is a legal, valid and binding obligations obligation of the Seller respective parties thereto in accordance with their its terms and have not been amended, no defenses, offsets or counterclaims thereto have been asserted or may be made by any party thereto other than Seller, and Seller has waived no substantial rights thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cd Warehouse Inc)

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