Common use of Engager Not In Default Clause in Contracts

Engager Not In Default. ‌ The Engager represents that it is not in default under any Agreement with Equity at the time of engagement of any Equity member, and that no contract or agreement has been entered into between the Engager and Equity, or any Equity member, the breach of which remains unsettled or unliquidated. For the purpose of this paragraph, the subject matter of a dispute currently in arbitration or for which a notice of arbitration has been given, shall not be deemed an "unsettled" or "unliquidated" breach.

Engager Not In Default. ‌ The Engager represents that it is not in default under any Agreement with Equity at the time of engagement of any Equity member, and that no contract or agreement has been entered into between the Engager and Equity, or any Equity member, the breach of which remains unsettled or unliquidated. For the purpose of this paragraph, the subject matter of a dispute currently in arbitration or for which a notice of arbitration has been given, shall not be deemed an "unsettled" or "unliquidated" breach.