Common use of Joint Venture Agreements Clause in Contracts

Joint Venture Agreements. The Joint Venture Agreements, true and complete copies of which have been furnished to Secured Party, have been duly authorized, executed and delivered by Grantor and are in full force and effect and have not been amended or modified except as disclosed in writing to Secured Party. No default by Grantor exists under any Joint Venture Agreement and no event has occurred or exists that with notice or lapse of time or both, would constitute a default by Grantor thereunder. To the best knowledge of Grantor, except as disclosed to Secured Party, no default by any other partner exists under such Joint Venture Agreement and no event has occurred or exists that, with notice or lapse of time or both, would constitute a default by any other partner thereunder.

Joint Venture Agreements. The Joint Venture Agreements, true and complete copies of which have been furnished to Secured Party, have been duly authorized, executed and delivered by each Grantor party thereto and are in full force and effect and have not been amended or modified except as disclosed in writing to Secured Party. No default by any Grantor exists under any Joint Venture Agreement to which it is a party and no event has occurred or exists that with notice or lapse of time or both, would constitute a default by such Grantor thereunder. To the best knowledge of such Grantor, except as disclosed to Secured Party, no default by any other partner exists under such Joint Venture Agreement and no event has occurred or exists that, with notice or lapse of time or both, would constitute a default by any other partner thereunder.