As of the date of this Agreement, there are no legal actions, suits, arbitrations or other legal, administrative or other governmental proceedings pending or to the knowledge of the Company threatened against or affecting the Company, or its properties, assets or business, which, if determined adversely to the Company, could have, individually or in the aggregate, a Company Material Adverse Effect or which in any manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated by this Agreement. The Company is not in default with respect to any order, writ, judgment, injunction, decree, determination or award of any court or any governmental agency or instrumentality or arbitration authority.