Common use of Governmental Approvals and Third Party Consents Clause in Contracts

Governmental Approvals and Third Party Consents. (a) Except for the regulatory approvals referred to in the Plan of Reorganization in Exhibit B attached hereto (collectively, the “Offshore Reorganization Regulatory Approvals”), no notices, reports or other filings are required to be made by any of the Sellers or the Company or any of its Subsidiaries with, nor are any Governmental Authorizations required to be obtained by any of the Sellers or the Company or any of its Subsidiaries from, any Governmental Authority in connection with the execution, delivery and performance of, and the consummation of the transactions contemplated by, this Agreement. (b) The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby will not conflict with or result in any violation of or default (with or without notice or lapse of time) under or give rise to a right of termination or cancellation under any Company Material Contract (as defined below).