No Defaults under Contract Sample Clauses

The "No Defaults under Contract" clause establishes that, as of a certain date or throughout the contract term, neither party is in breach or default of any of their obligations under the agreement. In practice, this means that each party affirms they have fulfilled all required duties, such as making payments or delivering goods, and that no unresolved violations exist. This clause is crucial for ensuring that both parties are starting from a position of compliance, thereby reducing the risk of disputes and providing assurance that the contract is being performed as intended.
No Defaults under Contract. CONTRACTOR is not in default, nor is there any event in existence which, with notice or the passage of time or both, would constitute a default by CONTRACTOR, under any indenture, mortgage, deed of trust, lease, loan agreement, license, security agreement, contract, governmental license or permit, or other agreement or instrument to which it is a party or by which any of its properties are bound and which default would materially and adversely affect CONTRACTOR’s ability to perform its obligations under this Contract.
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Related to No Defaults under Contract

  • No Defaults; Violations No material default exists in the due performance and observance of any term, covenant or condition of any material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other agreement or instrument evidencing an obligation for borrowed money, or any other material agreement or instrument to which the Company is a party or by which the Company may be bound or to which any of the properties or assets of the Company is subject. The Company is not in violation of any term or provision of its Charter or by-laws, or in violation of any franchise, license, permit, applicable law, rule, regulation, judgment or decree of any Governmental Entity.