Common use of Material Service Contracts Clause in Contracts

Material Service Contracts. True, correct and complete copies of all material service contracts, management agreements, brokerage agreements and third-party contracts, including all modifications thereof and supplements thereto to which one of the TPG Parties is a party or by which the Project is bound (collectively, “Contracts”) have heretofore been provided or made available to the BOP Parties, except for Contracts that are terminable on 60 days or less notice, with or without cause, and without penalty, have a term of one year of less, or require payments totaling less than $50,000. Each of the Contracts is valid and in full force and effect, subject to their terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, fraudulent transfer, reorganization, moratorium or other similar laws relating to the enforcement of creditors’ right generally and by general principles of equity. To the Knowledge of the TPG Parties, no party is in material default under any of the Contracts.