Common use of Transferred Contracts Clause in Contracts

Transferred Contracts. 3.1 Each of the Transferred Contracts is valid and enforceable in accordance with its terms. Neither the Seller, nor any other party thereto is in default with respect to any provisions thereof. No event has occurred which, with or without the giving of notice or lapse of time, or both, would constitute a default thereunder. 3.2 None of the Transferred Contracts is of an unusual, abnormal or onerous nature taking into account the business and the nature of the operations of the Business. 3.3 To the best of the Seller's knowledge, there is no threat whereby any of the Transferred Contracts may be terminated or rescinded or whereby the terms may be worsened as against the Seller or, following the consummation of the Transaction, the Purchaser. 3.4 The Seller has not waived any rights or privileges under any of the Transferred Contracts. 3.5 There are no acts or facts that, separately or taken as a whole, could lead to another qualification as the one that parties gave to a Transferred Contract. 3.6 There has not been any adverse change in the business relationship of the Seller with any customer or supplier. 3.7 There are no special circumstances which might lead to the Business being restricted or hindered.