Common use of Indebtedness Default Clause in Contracts

Indebtedness Default. 10.1 No outstanding indebtedness of any Group Company has become repayable before its stated maturity, nor has any security in respect of such indebtedness become enforceable by reason of default by any Group Company. 10.2 No person to whom any indebtedness of any Group Company is owed which is repayable on demand, has demanded or, to the best knowledge of the Warrantors after due and proper enquiry, threatened to demand repayment of, or to take steps to enforce any security for, the same. 10.3 No circumstance has arisen such that any person is now entitled to require payment of any indebtedness or under any guarantee of any liability of any Group Company by reason of default by any such member or any other person or any guarantee given by any Group Company. 10.4 To the best knowledge of the Warrantors, no event has occurred and is subsisting or to the best knowledge of the Warrantors having made all reasonable enquiries is about to occur which constitutes or would (whether with the expiry of any applicable grace period or the fulfilment of any condition or the giving of any notice or the compliance with any other formality or otherwise) constitute a breach or default under, or result in the acceleration by reason of breach or default of, any obligations under any Law, agreement, undertaking, instrument or arrangement to which any Group Company is a party or by which any of them or their respective revenues or assets are bound or constitute a breach or violation of the business licence, articles of association (or equivalent constituent documents) of any Group Company, except for such breach or default or acceleration that will not have a Material Adverse Effect on the Group. 10.5 None of the Group Companies has any outstanding borrowing facilities as of the date of this Agreement and the Company does not expect to have any outstanding borrowing facilities up to the Listing Date

Indebtedness Default. 10.1 No outstanding indebtedness of any Group Company has become repayable before its stated maturity, nor has any security in respect of such indebtedness become enforceable by reason of default by any Group Company. 10.2 No person to whom any indebtedness of any Group Company is owed which is repayable on demand, has demanded or, to the best knowledge of the Warrantors after due and proper enquiry, threatened to demand repayment of, or to take steps to enforce any security for, the same. 10.3 No circumstance has arisen such that any person is now entitled to require payment of any indebtedness or under any guarantee of any liability of any Group Company by reason of default by any such member or any other person or any guarantee given by any Group Company. 10.4 To the best knowledge of the Warrantors, no event has occurred and is subsisting or to the best knowledge of the Warrantors having made all reasonable enquiries is about to occur which constitutes or would (whether with the expiry of any applicable grace period or the fulfilment of any condition or the giving of any notice or the compliance with any other formality or otherwise) constitute a breach or default under, or result in the acceleration by reason of breach or default of, any obligations under any Law, agreement, undertaking, instrument or arrangement to which any Group Company is a party or by which any of them or their respective revenues or assets are bound or constitute a breach or violation of the business licence, articles of association (or equivalent constituent documents) of any Group Company, except for such breach or default or acceleration that will not have a Material Adverse Effect on the Group. 10.5 None of the Group Companies has any outstanding borrowing facilities as of the date of this Agreement and the Company does not expect to have any outstanding borrowing facilities up to the Listing Date.