Common use of No Default or Consents Clause in Contracts

No Default or Consents. Neither the execution and delivery of ---------------------- this Agreement or any document or instrument executed and delivered in connection therewith, nor the consummation of the transactions contemplated herein will: (a) conflict with or result in a breach, default or violation of or require consent under (i) the organizational documents of Purchaser, or (ii) any material contract, lease, instrument, mortgage or agreement to which Purchaser is a party or by which it is bound; or (b) result in the creation of any lien or security interest upon the Purchaser Notes or the Purchaser Securities, including but not limited to, a right to purchase the Purchaser Notes or Purchaser Securities. The failure of any person not a party hereto to authorize or approve this Agreement will not give any person the right to enjoin, rescind or otherwise prevent or impede the forgiveness of the Purchaser Notes or the exchange of Purchaser Securities in accordance with the terms of this Agreement or to obtain damages from, or any other judicial relief against, Purchaser as a result of the transactions carried out by Purchaser in accordance with the provisions of this Agreement.

No Default or Consents. Neither the execution and delivery of ---------------------- this Agreement or any document or instrument executed and delivered in connection therewith, nor the consummation of the transactions contemplated herein will: (a) conflict with or result in a breach, default or violation of or require consent under (i) the organizational documents of PurchaserHoldings, or (ii) any material contract, lease, instrument, instrument or mortgage or agreement to which Purchaser Holdings is a party or by which it Holdings is bound; or (b) result in the creation of any lien or security interest upon the Purchaser Notes Holdings Note or the Purchaser Holdings Securities, including but not limited to, a right to purchase the Purchaser Notes Holdings Note or Purchaser the Holdings Securities. The Except for the authorizations and approvals to be obtained as contemplated in this Agreement, the failure of any person not a party hereto to authorize or approve this Agreement will not give any person the right to enjoin, rescind or otherwise prevent or impede the forgiveness sale of the Holdings Securities to Purchaser Notes or the exchange of Purchaser Securities in accordance with the terms of this Agreement or to obtain damages from, or any other judicial relief against, Purchaser as a result of the transactions carried out by Purchaser Holdings in accordance with the provisions of this Agreement.