Common use of No Material Default Clause in Contracts

No Material Default. Neither the Seller nor its affiliates is in material default under any agreement, contract, instrument, or indenture of any nature whatsoever to which the Seller or its affiliates is bound, and which default would have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement.

No Material Default. Neither the Seller Purchaser nor its affiliates is in material default under any agreement, contract, instrument, or indenture of any nature whatsoever to which the Seller Purchaser or its affiliates is bound, and which default would have a material adverse effect on the ability of the Seller Purchaser to perform its obligations under this Agreement.