Common use of Validity of Contracts Clause in Contracts

Validity of Contracts. (i) No Group Company is in breach of, nor does any Warrantor have Knowledge of the invalidity of or grounds for rescission, avoidance or repudiation of any material agreement or other transaction to which a Group Company is a party, nor has it received notice of any intention to terminate any such material agreement or repudiate or disclaim any other transaction. (ii) To the Knowledge of the Warrantors, no party with whom a Group Company has entered into any agreement or arrangement is in default thereunder being a default which would constitute a Material Adverse Event with respect to the Group Company and there are no circumstances likely to give rise to any such default. (iii) No Group Company is a party to any contract which, by reason of the sale of the Subscribed Shares or any provision of this Agreement and/or the Transaction Agreements, gives any other contracting party the right to terminate the contract or create or increase any obligation on the Group Company (whether to make payment or otherwise) to any person.

Validity of Contracts. (i) No Group Company is in breach of, nor does any Warrantor have of or has Knowledge of the invalidity of or grounds for rescission, avoidance or repudiation of any material agreement or other transaction to which a the Group Company is a party, nor has it received notice of any intention to terminate any such material agreement or repudiate or disclaim any other transaction. (ii) To the Knowledge of the Warrantors, no party with whom a the Group Company has entered into any agreement or arrangement is in default thereunder being a default which would constitute have a Material Adverse Event with respect to material and adverse effect on the financial or trading position or prospects of the Group Company and there are no circumstances likely to give rise to any such default. (iii) No Group Company is a party to any contract which, by reason of the sale subscription of the Subscribed Subscription Shares or any provision of this Agreement and/or the Transaction Agreements, gives any other contracting party the right to terminate the contract or create or increase any obligation on the Group Company (whether to make payment or otherwise) to any person.