No Defaults Hereunder Sample Clauses

The "No Defaults Hereunder" clause establishes that, as of the effective date of the agreement, neither party is in breach or default of any of its obligations under the contract. In practice, this means that both parties affirm they have complied with all terms and conditions up to that point, and there are no outstanding violations or failures to perform. This clause serves to ensure that the agreement begins with both parties in good standing, thereby reducing the risk of disputes arising from pre-existing issues and providing a clear baseline for ongoing contractual performance.
No Defaults Hereunder. Borrower shall not breach any promise or covenant contained in this Agreement and shall not be in default under any provision of this Agreement or the other Loan Documents (except with respect to the Waivers, as waived hereby).
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No Defaults Hereunder. No Default has occurred and is continuing.
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No Defaults Hereunder. During the Forbearance Period, Debtor shall not breach any promise or covenant contained in this Agreement or the Lease.
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Related to No Defaults Hereunder

  • No Defaults; Violations No material default exists in the due performance and observance of any term, covenant or condition of any material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other agreement or instrument evidencing an obligation for borrowed money, or any other material agreement or instrument to which the Company is a party or by which the Company may be bound or to which any of the properties or assets of the Company is subject. The Company is not in violation of any term or provision of its Charter or by-laws, or in violation of any franchise, license, permit, applicable law, rule, regulation, judgment or decree of any Governmental Entity.

  • No Defaults There is no default, breach, violation or event of acceleration existing under the Mortgage or the Mortgage Note and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration, and neither the Company nor its predecessors have waived any default, breach, violation or event of acceleration;

  • No Default No Default or Event of Default has occurred and is continuing.

  • Material Contract Defaults The Company is not in default in any material respect under the terms of any outstanding contract, agreement, lease, or other commitment which is material to the business, operations, properties, assets, or financial condition of either of them, and there is no event of default or other event which, with notice or lapse of time or both, would constitute a default in any material respect under any such contract, agreement, lease, or other commitment in respect of which the Company has not taken adequate steps to prevent such a default from occurring.

  • No Existing Default No Default or Event of Default shall have occurred and be continuing (i) on the borrowing, continuation or conversion date with respect to such Loan or after giving effect to the Loans to be made, continued or converted on such date or (ii) on the issuance or extension date with respect to such Letter of Credit or after giving effect to the issuance or extension of such Letter of Credit on such date.