Common use of Contracts and Other Commitments Clause in Contracts

Contracts and Other Commitments. Procera’s Disclosure Schedule consists of a true and complete list of all material contracts, agreements, commitments and other instruments (whether oral or written) to which Procera is a party. All such contracts are valid and binding upon Procera and are in full force and effect and are enforceable in accordance with their respective terms. No such contracts are in breach, and no event has occurred which, with the lapse of time or action by a third party, could result in a material default under the terms thereof. To Procera’s knowledge, no stockholder of Procera has received any payment from any contracting party in connection with or as an inducement for causing Procera to enter into any such contract.