Common use of Contracts and Commitments, etc Clause in Contracts

Contracts and Commitments, etc. Except as set forth in Exhibit 3.15 hereto, the Company is not a party to any contracts or commitments (or group of related contracts or commitments) other than contracts entered into in the ordinary course of business and which do not involve more than $ or have a term (including renewals or extensions optional with another party) of more than one year from the date thereof. The Company is not in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which any of them is a party which may result in any material adverse change in the condition, financial or other, of the Company. Alternative to Section 3.15 Except as set forth in Exhibit 3.15, the Company is not a party to any written or oral contract or commitment not made in the ordinary course of business and, whether or not made in the ordinary course of business, the Company is not a party to any written or oral (i) contract or commitment with any labor union, (ii) contract or commitment for the future purchase of fixed assets, materials, supplies, or equipment involving an amount in excess of $25,000, (iii) contract of commitment for the employment of any officer, individual employee or other person on a full-time basis or any contract with any individual on a consulting basis, (iv) bonus, pension, profit-sharing, retirement, stock purchase, stock option, or extraordinary hospitalization, medical insurance or similar plan, contract or understanding in effect with respect to employees or any of them or the employees of others, (v) agreements, indentures or commitments relating to the borrowing of money or to the mortgaging, pledging or otherwise placing of a lien on any assets of the Company, (vi) guaranty of any obligation for borrowed money or otherwise, (vii) lease or agreement under which the Company is lessor of or permits any third party to hold or operate any property, real or personal, owned or controlled by the Company, (viii) agreement or other commitment for capital expenditures in excess of $25,000 in the aggregate, (ix) contract or agreement under which the Company is obligated to pay any broker's fees, finder's fees or any such similar fees to any third party, (x) contract, agreement or commitment under which the Company has issued, or may become obligated to issue, any shares of capital stock of the Company, or any warrants, options, convertible securities or other commitments pursuant to which the Company is or may become obligated to issue any shares of its Common Stock, or

Contracts and Commitments, etc. Except as set forth in Exhibit 3.15 hereto, the Company is not a party to any contracts or commitments (or group of related contracts or commitments) other than contracts entered into in the ordinary course of business and which do not involve more than $ or have a term (including renewals or extensions optional with another party) of more than one year from the date thereof. The Company is not in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which any of them is a party which may result in any material adverse change in the condition, financial or other, of the Company. Alternative to Section 3.15 Except as set forth in Exhibit 3.15, the Company is not a party to any written or oral contract or commitment not made in the ordinary course of business and, whether or not made in the ordinary course of business, the Company is not a party to any written or oral (i) contract or commitment with any labor union, (ii) contract or commitment for the future purchase of fixed assets, materials, supplies, or equipment involving an amount in excess of $25,000, (iii) contract of commitment for the employment of any officer, individual employee or other person on a full-full- time basis or any contract with any individual on a consulting basis, (iv) bonus, pension, profit-profit- sharing, retirement, stock purchase, stock option, or extraordinary hospitalization, medical insurance or similar plan, contract or understanding in effect with respect to employees or any of them or the employees of others, (v) agreements, indentures or commitments relating to the borrowing of money or to the mortgaging, pledging or otherwise placing of a lien on any assets of the Company, (vi) guaranty of any obligation for borrowed money or otherwise, (vii) lease or agreement under which the Company is lessor of or permits any third party to hold or operate any property, real or personal, owned or controlled by the Company, (viii) agreement or other commitment for capital expenditures in excess of $25,000 in the aggregate, (ix) contract or agreement under which the Company is obligated to pay any broker's ’s fees, finder's ’s fees or any such similar fees to any third party, (x) contract, agreement or commitment under which the Company has issued, or may become obligated to issue, any shares of capital stock of the Company, or any warrants, options, convertible securities or other commitments pursuant to which the Company is or may become obligated to issue any shares of its Common Stock, oror (xi) any other contract, agreement, arrangement or understanding which is material to the business of the Company or which is material to a prudent investor’s understanding of the business of the Company. The Company has furnished to counsel for the Investors true and correct copies of such agreements and other documents requested by the Investors or their authorized representatives.