Common use of Transactions Not Prohibited Clause in Contracts

Transactions Not Prohibited. The consummation of the transactions contemplated by this Agreement will not result in the breach of, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) or allow the acceleration of the obligations of Seller under any lease, license, promissory note, indenture, mortgage, deed of trust, insurance policy or other instrument, arrangement, or agreement to which Seller is a party or to which Seller or any of the Assets is subject, nor will such consummation conflict with any license, certificate, permit or franchise of any public authority held by Seller. The use by Buyer of the Marks, label and packaging designs and artwork, the Recipes and the Technology does not and will not violate, conflict with or infringe any intellectual property or other rights of any third party.

Transactions Not Prohibited. The consummation of the transactions contemplated by this Agreement will not result in the breach of, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) or allow the acceleration of the obligations of Seller under Sellers under, any lease, license, promissory note, indenture, mortgage, deed of trust, insurance policy or other instrument, arrangement, or agreement to which Seller is a party Sellers are parties or to which Seller Sellers or any of the Assets is subject, nor will such consummation conflict with any license, certificate, permit or franchise of any public authority held by SellerSellers. The use of the Assets by Buyer of the Marks, label and packaging designs and artwork, the Recipes and the Technology does not and will not violate, conflict with or infringe any intellectual property or other rights of any third party.