Common use of No Existing Defaults Clause in Contracts

No Existing Defaults. Except as set forth in Exhibit 4.6 hereto, the Company is not in default: (a) under any of the terms of any material note, debt instrument, security agreement or mortgage or under any other commitment, contract, agreement, license, lease or other instrument, whether written or oral, to which it is a party or by which it or any of its properties or assets is bound; (b) under any law, judgment, decree, order, rule regulation or other legal requirement or any governmental authority, court or arbitration tribunal whether federal, state, provincial, municipal or local (within the U.S. or otherwise), at law or in equity, and applicable to it or to any of this properties or assets, which default would have a material adverse effect on the Company; or (c) in the payment of any of its material monetary obligations or debts. There exists no condition or event which, after notice or lapse of time or both, would constitute a material default in connection with any of the foregoing.

No Existing Defaults. Except as set forth in Exhibit 4.6 6.29 hereto, the Company Buyer is not in default: (a) under any of the terms of any material note, debt instrument, security agreement or mortgage or under any other commitment, contract, agreement, license, lease or other instrument, whether written or oral, to which it is a party or by which it or any of its properties or assets is bound; (b) under any law, judgment, decree, order, rule regulation or other legal requirement or any governmental authority, court or arbitration tribunal whether federal, state, provincial, municipal or local (within the U.S. or otherwise), at law or in equity, and applicable to it or to any of this properties or assets, which default would have a material adverse effect on the CompanyBuyer; or (c) in the payment of any of its material monetary obligations or debts. There exists no condition or event which, after notice or lapse of time or both, would constitute a material default in connection with any of the foregoing.