Common use of Violations and Defaults Clause in Contracts

Violations and Defaults. The Company is not in violation of, or in default under, any term or provision of (i) its Certificate of Incorporation and By-Laws, (ii) any indenture, mortgage, contract, commitment or other agreement or instrument to which it is a party or by which it or any of its properties or business is or may be bound or subject, except for such defaults, if any, that would not have a material adverse effect on the condition (financial or otherwise), earnings, business affairs or business prospects of the Company, or (iii) any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency or court, having jurisdiction over the Company or of any of its respective properties or businesses. The Company owns, possesses or has obtained all governmental and other licenses, permits, certifications, registrations, approvals or consents and other authorizations necessary to own or lease, as the case may be, and to operate its properties and to conduct its business as currently conducted and described in the Information Package, and all such licenses, permits, certifications, registrations, approvals, consents and other authorizations are outstanding and in good standing. There are no proceedings pending or, to the best of the Company's knowledge, threatened, nor is there any basis therefor, seeking to cancel, terminate or limit such licenses, permits, certifications, registrations, approvals or consents or authorizations.

Violations and Defaults. The Company is not in violation of, or ----------------------- in default under, any term or provision of (i) its Amended and Restated Certificate of Incorporation and By-Laws, (ii) any indenture, mortgage, contract, commitment or other agreement or instrument to which it is a party or by which it or any of its properties or business is or may be bound or subject, except for such defaults, if any, that would not have a material adverse effect on the condition (financial or otherwise), earnings, business affairs or business prospects of the Company, or (iii) any existing applicable law, rule, regulation, judgment, order or decree of any governmental agency or court, having jurisdiction over the Company or of any of its respective properties or businesses. The Company owns, possesses or has obtained all governmental and other licenses, permits, certifications, registrations, approvals or consents and other authorizations necessary to own or lease, as the case may be, and to operate its properties and to conduct its business as currently conducted and described in the Information PackageMemorandum, and all such licenses, permits, certifications, registrations, approvals, consents and other authorizations are outstanding and in good standing. There are no proceedings pending or, to the best of the Company's knowledge, threatened, nor is there any basis therefor, seeking to cancel, terminate or limit such licenses, permits, certifications, registrations, approvals or consents or authorizations.