No Default; No Violation Sample Clauses
The "No Default; No Violation" clause establishes that a party is not considered in default or in breach of the agreement unless a specific event or condition, as defined in the contract, has occurred. In practice, this means that minor issues or technicalities that do not materially affect the parties' obligations will not automatically trigger a default or violation. This clause helps prevent unnecessary disputes and ensures that only significant breaches or failures to perform are treated as defaults, thereby providing clarity and stability in the contractual relationship.
No Default; No Violation. Seller is not (A) in default under or in breach of any indenture or loan or credit agreement or any other agreement, lease or instrument to which it is a party or by which it or its properties may be bound or affected, or (B) in violation of any law, rule, regulation, order, writ, judgment, injunction, decree, determination, or award presently in effect having applicability to it and of which it has notice.
No Default; No Violation. Neither the Debtor nor any Subsidiary is in default under any indenture, mortgage, deed of trust, agreement or other instrument to which it is a party or by which it may be bound, except for any such breach which would not have a Material Adverse Effect. Neither the execution and delivery of this Agreement, the Notes or any of the instruments and documents to be delivered pursuant to this Agreement, nor the consummation of the transactions herein and therein contemplated, nor compliance with the provisions hereof or thereof will violate any law or regulation, or any order or decree of any court or governmental or administrative body or agency, or will conflict with, or result in the breach of, or constitute a default under, any indenture, mortgage, deed of trust, agreement or other instrument to which the Debtor or any Subsidiary is a party or by which any of them may be bound, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property of the Debtor or any Subsidiary thereunder (except for the Permitted Liens), or violate any provision of the certificate of formation, operating agreement or other formation document or operating agreement or similar document or agreement of the Debtor or any Subsidiary.