Material Defaults. Parent is not in material default, or alleged to be in default, under any material agreement, contract, lease, mortgage, commitment, instrument or obligation, and no other party to any agreement, contract, lease, mortgage, commitment, instrument or obligation to which Parent is a party is in default thereunder, which default would materially and adversely affect the properties, assets, business or prospects of Parent.
Appears in 4 contracts
Sources: Merger Agreement (EMAV Holdings, Inc.), Merger Agreement (Becoming Art Inc), Merger Agreement (Becoming Art Inc)