Common use of No Default; No Violation Clause in Contracts

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.