Common use of Contracts in Good Standing Clause in Contracts

Contracts in Good Standing. The Vendor has performed all of its obligations required to be performed by it and is entitled to all of the benefits under any Contract relating to the Business to which the Vendor is a party or by which it is bound. The Contracts are all in full force and effect unamended and no default exists on the part of any of the parties thereto. The Vendor is not in default or in breach of any Contract to which it is a party and there exists no condition, event or act which, with the giving of notice or lapse of time or both would constitute such a default or breach and all such Contracts are in good standing and in full force and effect unamended and the Vendor is entitled to all benefits thereunder. The Vendor has no unrealized or anticipated loss from any Contracts which has or would have a Material Adverse Effect.