The consummation of the transactions hereby contemplated and the performance of the obligations of the Sellers and the Company under and by virtue of this Stock Purchase Agreement or the Ancillary Documents will not result in any breach of, or constitute a default under, any material mortgage, security deed or agreement, deed of trust, lease, bank loan or credit agreement, corporate charter or bylaws, agreement or certificate of limited partnership, license, franchise, or any other instrument or agreement to which the Sellers or the Company are a party or by which the Sellers or the Company or their respective properties may be bound or affected or to which the Sellers or the Company have not obtained an effective waiver which could reasonably be expected to have a material adverse effect on the Company or its future operations taken as a whole.