Common use of Contracts and Undertakings Clause in Contracts

Contracts and Undertakings. Exhibit 3.08 attached hereto contains a list of all contracts, agreements, leases, licen­ses, arrangements, commitments and other undertakings to which the Company is a party or by which it or its property is bound. Each of said con­tracts, agreements, leases, licenses, arrangements, com­mitments and undertakings is valid, binding and in full force and effect. The Company is not in material default, or alleged to be in material de­fault, under any contract, agreement, lease, li­cense, commitment, instrument or obligation and, to the knowledge of the Company, no other party to any contract, agree­ment, lease, license, commit­ment, in­strument or obligation to which the Company is a party is in default thereunder nor, to the knowledge of the Com­pany, does there exist any condition or event which, after notice or lapse of time or both, would con­stitute a default by any party to any such con­tract, agree­ment, lease, license, com­mitment, instru­ment or obli­gation.