Common use of Absence of Actions Clause in Contracts

Absence of Actions. To its Knowledge, it is not a party to or object of any litigation, suit, legal claim, action, proceeding, judgment, settlement, or investigation (an “Action”) pending or threatened against it, or any of its Affiliates, or any of its properties or assets, before any governmental authority or Regulatory Authority that might reasonably be expected to have a material adverse effect on its ability to diligently and completely fulfill its obligations hereunder. A material breach of or inaccuracy in this Section 10.1(e) with respect to a Party shall constitute a material breach of this Agreement by such Party pursuant to Section 9.2.3.

Appears in 2 contracts

Samples: Collaboration Agreement (Pain Therapeutics Inc), Collaboration Agreement (Pain Therapeutics Inc)

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Absence of Actions. To its Knowledge, it It is not a party to or object of any litigation, suit, legal claim, action, proceeding, judgment, settlement, or investigation (an “Action”) pending or or, to the knowledge of it, threatened against it, or any of its Affiliates, or any of its properties or assets, before any governmental or regulatory authority or Regulatory Authority that might reasonably be expected to have a material adverse effect on its ability to diligently and completely fulfill its obligations hereunder. A material breach of or inaccuracy in this Section 10.1(e) 12.5 with respect to a Party shall constitute a material breach of this Agreement by such Party pursuant to Section 9.2.311.2.3.

Appears in 1 contract

Samples: Collaborative Development and Marketing Agreement (Palatin Technologies Inc)

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Absence of Actions. To its Knowledge, it It is not a party to or object of any litigation, suit, legal claim, action, proceeding, judgment, settlement, or investigation (an "Action") pending or or, to the knowledge of it, threatened against it, or any of its Affiliates, or any of its properties or assets, before any governmental or regulatory authority or Regulatory Authority that might reasonably be expected to have a material adverse effect on its ability to diligently and completely fulfill its obligations hereunder. A material breach of or inaccuracy in this Section 10.1(e) 12.5 with respect to a Party shall constitute a material breach of this Agreement by such Party pursuant to Section 9.2.311.2.3.

Appears in 1 contract

Samples: Collaborative Development and Marketing Agreement (King Pharmaceuticals Inc)

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