Common use of Conflicting Agreements; Litigation Clause in Contracts

Conflicting Agreements; Litigation. No provisions of any mortgage, indenture, contract, agreement, statute, rule, regulation, judgment, decree or order binding on such Subordinated Creditor or affecting the property of such Subordinated Creditor conflicts with, or requires any consent which has not already been obtained under, or would in any way prevent the execution, delivery or performance of the terms of this Agreement. The execution, delivery and carrying out of the terms of this Agreement will not constitute a default under, or result in the creation or imposition of, or obligation to create, any Lien upon the property of such Subordinated Creditor pursuant to the terms of any such mortgage, indenture, contract or agreement. No pending or, to the best of such 8 CHI02_60483238_1_208239_00102 Subordinated Creditor's knowledge, threatened, litigation, arbitration or other proceedings if adversely determined would in any way prevent the performance of the terms of this Agreement.

Appears in 8 contracts

Samples: Subordination Agreement (Galaxy Energy Corp), Subordination Agreement (Galaxy Energy Corp), Subordination Agreement (Galaxy Energy Corp)

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