Status of Scheduled Contracts. Except as set forth on Section 3.15(b) of the Company Disclosure Schedule, each of the Scheduled Contracts is in full force and effect, and: (i) all of the Scheduled Contracts are binding on the Company or its Subsidiary, as the case may be, and the Company or its Subsidiary, and, to the Knowledge of the Company, the other parties thereto are in compliance in all material respects with the terms and conditions of such Scheduled Contracts; (ii) neither the Company nor its Subsidiary has received any written notice of deficient performance relating to any Scheduled Contract; (iii) neither the Company nor its Subsidiary has received any written notices of default or breach under any of the Scheduled Contracts; (iv) there are no Scheduled Contracts which require the Company or its Subsidiary to be an account party to a letter of credit or bank guarantee which allows the beneficiary to draw funds without the specific consent of the account party; and (v) originals or true, correct and complete copies of all Scheduled Contracts have been provided or made available to Purchaser.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Global Defense Technology & Systems, Inc.), Stock Purchase Agreement (Global Defense Technology & Systems, Inc.)