Common use of Outsourcing Agreement Clause in Contracts

Outsourcing Agreement. The Transferee has fulfilled all material obligations under the Outsourcing Agreement to have been performed by the Transferee on its part prior to the date hereof and the Transferee is not in material breach of or material default under the Outsourcing Agreement, and no event has occurred which with the passage of time or giving of notice or both would constitute such a default, result in a loss of rights or result in the creation of any lien, charge or encumbrance, thereunder or pursuant thereto.

Outsourcing Agreement. The Transferee Transferor has fulfilled all material obligations under the Outsourcing Agreement to have been performed by the Transferee Transferor on its part prior to the date hereof and the Transferee Transferor is not in material breach of or material default under the Outsourcing Agreement, and no event has occurred which with the passage of time or giving of notice or both would constitute such a default, result in a loss of rights or result in the creation of any lien, charge or encumbrance, thereunder or pursuant thereto.