No Breaches or Defaults. Except as disclosed in the Xxxxxxx Car Wash Disclosure Letter, Xxxxxxx Car Wash and is in full compliance with each, and is not in default under any, Material Contract to which it is a party, and no event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Xxxxxxx Car Wash has not waived any rights under or with respect to any of the Material Contracts to which it is a party. The Xxxxxxx Car Wash Members have no knowledge, and have not received any notice to the effect, that any party with whom Xxxxxxx Car Wash has contractual arrangements under the Material Contracts to which it is a party, is in default under any such contractual arrangements or that any event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Each of the Material Contracts to which it is a party constitutes a legal, valid and binding obligation of each the parties thereto and is enforceable against each of the parties thereto in accordance with its respective terms; except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws of general application relating to or affecting enforcement of creditors' rights and the exercise of judicial discretion in accordance with general principles of equity.
Appears in 3 contracts
Samples: Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc)
No Breaches or Defaults. Except as disclosed in the Xxxxxxx Car Wash WE JAC Disclosure Letter, Xxxxxxx Car Wash WE JAC and each of its Subsidiaries is in full compliance with each, and is not in default under any, Material Contract to which it is a party, and no event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Xxxxxxx Car Wash Neither WE JAC nor any of its Subsidiaries has not waived any rights under or with respect to any of the Material Contracts to which it is a party. The Xxxxxxx Car Wash Members have management of WE JAC has no knowledge, and have has not received any notice to the effect, that any party with whom Xxxxxxx Car Wash WE JAC or any of its Subsidiaries has contractual arrangements under the Material Contracts to which it is a partyContracts, is in default under any such contractual arrangements or that any event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Each of the Material Contracts to which it is a party constitutes a legal, valid and binding obligation of each of the parties thereto and is enforceable against each of the parties thereto in accordance with its respective terms; except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws of general application relating to or affecting enforcement of creditors' rights and the exercise of judicial discretion in accordance with general principles of equity.
Appears in 3 contracts
Samples: Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc)
No Breaches or Defaults. Except as disclosed in ITS PLC and each of the Xxxxxxx Car Wash Disclosure Letter, Xxxxxxx Car Wash and is ITS Subsidiaries are in full compliance with each, and is are not in default under any, Material Contract to which it is a party, and no event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Xxxxxxx Car Wash Neither ITS PLC nor any of the ITS Subsidiaries has not waived any rights under or with respect to any of the Material Contracts to which it is a party. The Xxxxxxx Car Wash Members have management of ITS PLC has no knowledge, and have has not received any notice to the effect, that any party with whom Xxxxxxx Car Wash ITS PLC or any of the ITS Subsidiaries has contractual arrangements under the Material Contracts to which it is a partyContracts, is in default under any such contractual arrangements or that any event has occurred that, with notice or lapse of time or both, would constitute such a default thereunder. Each of the Material Contracts to which it is a party constitutes a legal, valid and binding obligation of each of the parties thereto and is enforceable against each of the parties thereto in accordance with its respective terms; except as enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other laws of general application relating to or affecting enforcement of creditors' rights and the exercise of judicial discretion in accordance with general principles of equity.
Appears in 1 contract
Samples: Agreement and Plan of Share Exchanges (Offshore Tool & Energy Corp)