Common use of Specified Contracts Clause in Contracts

Specified Contracts. Except in each case as would not reasonably be expected to have a Material Adverse Effect, as to (A) each Investment Agreement and (B) each Material Contract to which any Grantor is a party (the foregoing, collectively, “Specified Contracts”), (i) such Grantor is not in default under such Specified Contract, and to the knowledge of such Grantor, none of the other parties to such Specified Contract is in default thereunder (except as shall have been disclosed in writing to the Administrative Agent), (ii) such Specified Contract is, or at the time of execution will be, the legal, valid and binding obligation of the Grantor party thereto, enforceable against such Grantor in accordance with the respective terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar Applicable Law affecting creditors’ rights generally, and no defense, offset, deduction or counterclaim will exist thereunder in favor of such Grantor, and (iii) to the knowledge of such Grantor, the performance by such Grantor of its obligations under such Specified Contract in accordance with its terms will not contravene any requirement of Applicable Law, the Loan Documents or any other contractual restriction binding on or affecting such Grantor or any of its properties, and will not result in or require the creation of any Lien upon or with respect to any of its properties (except for Permitted Encumbrances). Each Grantor, promptly upon the request of the Administrative Agent, will furnish the Administrative Agent with a correct and complete copy of each Specified Contract to which it is a party as then in effect.

Specified Contracts. Except in each case as would not reasonably be expected to have a Material Adverse Effect, as to (A) each Investment Agreement and (B) each Material Contract to which any Grantor is a party (the foregoing, collectively, “Specified Contracts”), (i) such Grantor is not in default under such Specified Contract, and to the knowledge of such Grantor, none of the other parties to such Specified Contract is in default thereunder (except as shall have been disclosed in writing to the Administrative AgentCoBank), (ii) such Specified Contract is, or at the time of execution will be, the legal, valid and binding obligation of the Grantor Grantors party thereto, enforceable against such Grantor in accordance with the respective terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar Applicable Law Laws affecting creditors’ rights generally, and no defense, offset, deduction or counterclaim will exist thereunder in favor of any such Grantorparty, and (iii) to the knowledge of such Grantor, the performance by such Grantor of its obligations under such Specified Contract in accordance with its terms will not contravene any requirement of Applicable Law, the Loan Documents Law or any other contractual restriction binding on or affecting such Grantor or any of its properties, and will not result in or require the creation of any Lien upon or with respect to any of its properties (except for Permitted EncumbrancesLiens permitted by the Loan Agreement). Each Grantor, promptly upon the request of the Administrative AgentCoBank, will furnish the Administrative Agent CoBank with a correct and complete copy of each Specified Contract to which it is a party as then in effect.. Amended and Restated Pledge and Security Agreement/New Ulm Telecom, Inc. Loan No. RX0583

Specified Contracts. Except in each case as would not reasonably be expected to have result in a Material Adverse Effect, as to (A) each Investment Agreement and (B) each Material Contract to which any Grantor is a party (the foregoing, collectively, “Specified Contracts”), (i) such Grantor is not in default under such Specified Contract, and to the knowledge of such Grantor, none of the other parties to such Specified Contract is in default thereunder (except as shall have been disclosed in writing pursuant to Section 6.1(e)(v) of the Administrative AgentCredit Agreement), (ii) such Specified Contract is, or at the time of execution will be, the legal, valid and binding obligation of the Grantor Grantors party thereto, enforceable against such Grantor in accordance with the respective terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar Applicable Law affecting creditors’ rights generallyDebtor Relief Laws, and no defense, offset, deduction or counterclaim will exist thereunder in favor of any such Grantorparty, and (iii) to the knowledge of such Grantor, the performance by such Grantor of its obligations under such Specified Contract in accordance with its terms will not contravene any requirement of Applicable Law, the Loan Documents or any other contractual restriction binding on or affecting such Grantor or any of its properties, and will not result in or require the creation of any Lien upon or with respect to any of its properties (except for Permitted EncumbrancesLiens). Each Grantor, promptly upon the request of the Administrative Agent, will furnish the Administrative Agent with a correct and complete copy of each Specified Contract to which it is a party as then in effect.

Specified Contracts. Except in each case as would not reasonably be expected to have result in a Material Adverse EffectChange, as to (A) each Investment Agreement and (B) each Material Contract Agreement to which any Grantor is a party (the foregoing, collectively, “Specified Contracts”), (i) such Grantor is not in default under such Specified Contract, and to the knowledge of such Grantor, none of the other parties to such Specified Contract is in default thereunder (except as shall have been disclosed in writing to the Administrative Agent), (ii) such Specified Contract is, or at the time of execution will be, the legal, valid and binding obligation of the Grantor party thereto, enforceable against such Grantor in accordance with the respective terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar Applicable Law affecting creditors’ rights generallyDebtor Relief Laws and general equitable principles, and no defense, offset, deduction or counterclaim will exist thereunder in favor of any such Grantor, party and (iii) to the knowledge of such Grantor, the performance by such Grantor of its obligations under such Specified Contract in accordance with its terms will not contravene any requirement of Applicable applicable Law, the Loan Documents or any other contractual restriction binding on or affecting such Grantor or any of its properties, and will not result in or require the creation of any Lien upon or with respect to any of its properties (except for Permitted EncumbrancesLiens). Each Grantor, promptly upon the request of the Administrative Agent, will furnish the Administrative Agent with a correct and complete copy of each Specified Contract to which it is a party as then in effect.

Specified Contracts. Except in each case as would not reasonably be expected to have a Material Adverse Effect, as to (A) each Investment Agreement and (B) each Material Contract to which any Grantor is a party (the foregoing, collectively, “Specified Contracts”), (i) such Grantor is not in default under such Specified Contract, and to the knowledge of such Grantor, none of the other parties to such Specified Contract is in default thereunder (except as shall have been disclosed in writing to the Administrative AgentCoBank), (ii) such Specified Contract is, or at the time of execution will be, the legal, valid and binding obligation of the Grantor Grantors party thereto, enforceable against such Grantor in accordance with the respective terms thereof, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar Applicable Law Laws affecting creditors’ rights generally, and no defense, offset, deduction or counterclaim will exist thereunder in favor of any such Grantorparty, and (iii) to the knowledge of such Grantor, the performance by such Grantor of its obligations under such Specified Contract in accordance with its terms will not contravene any requirement of Applicable Law, the Loan Documents Law or any other contractual restriction binding on or affecting such Grantor or any of its properties, and will not result in or require the creation of any Lien upon or with respect to any of its properties (except for Permitted EncumbrancesLiens permitted by the Loan Agreement). Each Grantor, promptly upon the request of the Administrative AgentCoBank, will furnish the Administrative Agent CoBank with a correct and complete copy of each Specified Contract to which it is a party as then in effect.