Common use of Material Contract Defaults Clause in Contracts

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of them, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company to its knowledge is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default -------------------------- in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company Holdings is not in default in any material respect under the terms of any outstanding contract, agreement, lease, lease or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of themHoldings, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, lease or other commitment in respect of which the Company Holdings has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Except as set forth in Schedule 3.1.17, the Company is not in default in any material respect under the terms of any outstanding material contract, agreement, commitment, arrangement, lease, insurance policy or other commitment instrument to which it is material to the business, operations, properties, a party or by which its assets, business or financial condition of either of themoperations may be bound or affected or under which it or its assets, business or operations receive benefits, and there is no event of default or other has not occurred any event which, with notice or the lapse of time or the giving of notice, or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurringdefault.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, lease or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, lease or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default -------------------------- in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Except as set forth in Schedule 3.1.17, the Company is not in default in any material respect under the terms of any outstanding material contract, agreement, commitment, arrangement, lease, insurance policy or other commitment instrument to which it is material to the business, operations, properties, a party or by which its assets, business or financial condition of either of themoperations may be bound or affected or under which it or its assets, business or operations receive benefits, and there is no event of default or other has not occurred any event which, with notice or the lapse of time or the giving of notice or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurringdefault.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of themthe Company, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company Company, to the best of its knowledge, is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of themthe Company, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any -------------------------- material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of themthe Company taken as a whole, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has Shareholders have not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company CORP is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, CORP or LLC and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company CORP has not taken adequate steps to prevent such a default from occurringoccurring except as disclosed in its filings.

Material Contract Defaults. The Company is Companies are not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of them, the Companies and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has Companies have not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding material contract, agreement, employment related obligation, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding material contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of themthe Company, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of them, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The To the best of the Company’s knowledge, the Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of them, the Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of them, Company and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of themthe Company, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company Buyer has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The Company Corporation is not in default in any material respect under the terms of any outstanding contract, agreement, lease, lease or other commitment which is material to the business, operations, properties, assets, assets or financial condition of either of themCorporation, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, lease or other commitment in respect of which the Company Corporation has not taken adequate steps to prevent such a default from occurring.

Material Contract Defaults. The To the Knowledge of the Sellers, the Company is not in default in any material respect under the terms of any outstanding contract, agreement, promissory notes, license, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of themthe Company, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.