No event of default or potential event of default

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Representations and Warranties Anatomy™

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A “typical” No default or potential event of default clause:

No event of default or potential event of default: there has been no event of default or potential event of default under this agreement, and none would occur as a result of you executing or performing your obligations under this agreement.

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This is a classis loo paper rep: soft, durable, comfy, absorbent — super cute when a wee labrador pub grabs one end of the streamer and charges round the Italian sunken garden with it — but as a credit mitigant or contractual protection, only good for wiping your behind on.