Common use of No Required Consents or Defaults Clause in Contracts

No Required Consents or Defaults. The execution and delivery of this Agreement by the Company on behalf of its Shareholders does not and the consummation of the transactions contemplated hereby will not (i) require the consent of any person not a party to this Agreement, (ii) result in the breach of any term or provision of, or constitute a default under, or result in the acceleration of or entitle any party to accelerate (whether after the giving of notice or the lapse of time or both) any obligation under, or result in the creation or imposition of any lien, charge, pledge, security interest or other encumbrance upon any part of the property of the Company pursuant to any provision of, any order, judgment, arbitration award, injunction, decree, indenture, mortgage, lease, license, lien, or other agreement or instrument to which Shareholders or the Company is a party or by which any of them is bound, or violate or conflict with any provision of the by-laws or articles/certificate of incorporation of the Company as amended to the date of this Agreement.

No Required Consents or Defaults. The execution and delivery of --------------------------------- this Agreement by the Company on behalf of its Shareholders does not and the consummation of the transactions contemplated hereby will not (i) require the consent of any person not a party to this Agreement, (ii) result in the breach of any term or provision of, or constitute a default under, or result in the acceleration of or entitle any party to accelerate (whether after the giving of notice or the lapse of time or both) any obligation under, or result in the creation or imposition of any lien, charge, pledge, security interest or other encumbrance upon any part of the property of the Company pursuant to any provision of, any order, judgment, arbitration award, injunction, decree, indenture, mortgage, lease, license, lien, or other agreement or instrument to which Shareholders or the Company is a party or by which any of them is bound, or violate or conflict with any provision of the by-laws or articles/certificate of incorporation of the Company as amended to the date of this Agreement.