Common use of No Default Under Leases Clause in Contracts

No Default Under Leases. Each lease referred to in Schedule 3.1(a) is in full force and effect and no default exists on the part of JMS in the performance of its obligations under such leases, and JMS has not received any notice from the lessor under any such lease of the existence of any default on the part of JMS which has not been heretofore performed or cured by JMS. JMS has not made any prior assignment, whether for security purposes or otherwise, of the interest of JMS in, to or under any such lease. Payments under each of such leases has been paid to at least the Closing Date except to the extent, if any, reflected in Schedule 3.1(a). To the best of the knowledge of JMS there are no unperformed obligations on the part of the lessor under any lease with respect to the premises leased pursuant to such lease.