No Default Under CPLV Lease Sample Clauses

The "No Default Under CPLV Lease" clause establishes that, for the purposes of the current agreement, the party in question is not considered to be in default under a specific lease known as the CPLV Lease. This means that, as of the effective date or at a specified time, the party affirms it has met all obligations and is not subject to any breach or default conditions under that lease. By including this clause, the agreement ensures that there are no outstanding issues or risks related to the CPLV Lease that could affect the parties' rights or obligations, thereby providing assurance and clarity to all involved.