Common use of Non-Contravention and Defaults; No Liens Clause in Contracts

Non-Contravention and Defaults; No Liens. Neither the execution or delivery of the Transaction Documents, nor the fulfillment of, or compliance with, the terms and provisions thereof, will (i) result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in a violation of, termination of or acceleration of the performance provided by the terms of, any material agreement to which CFC or CFB is a party or by which they may be bound, (ii) violate any provision of any law, rule or regulation, (iii) result in the creation or imposition of any Lien on any asset of CFC or CFB, or (iv) violate any provisions of CFC's or CFB's Articles of Incorporation or Bylaws. To the best of CFC's and CFB's knowledge, no other party to any material agreement to which CFC or CFB is a party is in default thereunder or in breach of any provision thereof. To the best of CFC's and CFB's knowledge, there exists no condition or event which, after notice or lapse of time or both, would constitute a default by any party to any such agreement.

Non-Contravention and Defaults; No Liens. Neither the execution or delivery of the Transaction Documentsthis Reorganization Agreement, nor the fulfillment of, or compliance with, the terms and provisions thereofhereof, will (i) result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in a violation of, termination of or acceleration of the performance provided by the terms of, any material agreement to which CFC or CFB is a party or by which they may be bound, (ii) violate any provision of any law, rule or regulation, (iii) result in the creation or imposition of any Lien on any asset of CFC or CFB, or (iv) violate any provisions of CFC's or CFB's Articles of Incorporation or Bylaws. To the best of CFC's and CFB's knowledge, no other party to any material agreement to which CFC or CFB is a party is in default thereunder or in breach of any provision thereof. To the best of CFC's and CFB's knowledge, there exists no condition or event which, after notice or lapse of time or both, would constitute a default by any party to any such agreement.

Non-Contravention and Defaults; No Liens. Neither the execution or delivery of the Transaction Documentsthis Reorganization Agreement, nor the fulfillment of, or compliance with, the terms and provisions thereofhereof, will (i) result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in a violation of, termination of or acceleration of the performance provided by the terms of, any material agreement to which CFC or CFB Imagitel is a party or by which they it may be bound, (ii) violate any provision of any law, rule or regulation, (iii) result in the creation or imposition of any Lien lien, charge, restriction, security interest or encumbrance of any nature whatsoever on any asset of CFC or CFBImagitel, or (iv) violate any provisions of CFCImagitel's or CFB's Articles Certificate of Incorporation or Bylaws. To the best of CFC's and CFBImagitel's knowledge, no other party to any material agreement to which CFC or CFB Imagitel is a party is in default thereunder or in breach of any provision thereof. To the best of CFC's and CFBImagitel's knowledge, there exists no condition or event which, after notice or lapse of time or both, would constitute a default by any party to any such agreement.