Common use of Defaults and Conflicts Clause in Contracts

Defaults and Conflicts. There are no defaults on the part of any of the Shareholders or Acquirees under any contract, lease, mortgage, pledge, credit agreement, title retention agreement, security agreement, lien, encumbrance or any other commitment, contract, agreement or undertaken to which the Shareholders or Acquirees are a party. The execution of this Agreement will not violate or breach any material agreement, contract, or commitment to which any of the Shareholders or Acquirees is a party.

Defaults and Conflicts. There are no defaults on the part of any of the Shareholders or Acquirees Acquiror under any contract, lease, mortgage, pledge, credit agreement, title retention agreement, security agreement, lien, encumbrance or any other commitment, contract, agreement or undertaken undertaking to which Acquiror is a party and the Shareholders or Acquirees are a party. The execution of this Agreement will not violate or breach any material agreement, agreement contract, or commitment to which any of the Shareholders or Acquirees Acquiror is a party.