Criminal Proceeding Clause Samples

The Criminal Proceeding clause defines how situations involving criminal investigations or charges against a party to the agreement are handled. Typically, this clause outlines the obligations of the parties to notify each other if they become subject to a criminal proceeding, and may specify the rights of the other party to suspend or terminate the agreement in such cases. Its core practical function is to protect parties from the risks associated with being involved in a business relationship with someone facing criminal prosecution, thereby allowing for early intervention or termination to mitigate reputational or legal exposure.
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Criminal Proceeding. There is instituted against any Credit Party any criminal proceeding for which forfeiture of any asset is a potential penalty, or any Credit Party is enjoined, restrained or in any way prevented by order of any Governmental Authority from conducting any material part of its business affairs and such order is not completely stayed, to the satisfaction of Bank, or dissolved within five (5) Business Days from the effective date of such order.
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Criminal Proceeding. The institution by any Governmental Authority of criminal proceedings against Borrower;
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Criminal Proceeding. The institution by any Governmental Authority of criminal proceedings against Borrower involving fraud, moral turpitude, or a felony or other criminal proceeding that could reasonably be expected to result in a Material Adverse Change;
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Criminal Proceeding. A criminal proceeding shall be commenced or a criminal indictment shall be filed against any member of the Borrower Group, which proceeding or indictment, if adversely determined, could reasonably be expected to have a Material Adverse Effect; or
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Criminal Proceeding. The institution in any court of a criminal proceeding against any Credit Party or officer or director of any Credit Party which would have a Material Adverse Effect, or the indictment of any Credit Party for any misdemeanors resulting from fraudulent conduct or any felony, and in any such case the proceeding is not stayed or dismissed, or the indictment is not withdrawn, within thirty (30) days of such institution or indictment;
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Criminal Proceeding. The institution by any Governmental Authority of criminal proceedings against Borrower involving fraud, moral turpitude, or a felony or any other criminal proceeding that could reasonably be expected to have a material adverse effect on Borrower’s business;
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Criminal Proceeding. The institution in any court of a material criminal proceeding against Borrower or any of its Subsidiaries or Guarantors, or any officer or director of any Borrower or any of its Subsidiaries or Guarantors related to the business of Borrower, or the indictment of any Borrower or any of its Subsidiaries or Guarantors, or any officer or director of any Borrower or any of its Subsidiaries or Guarantors related to the business of Borrower, for any crime other than misdemeanors not punishable by jail terms.
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Related to Criminal Proceeding

  • Litigation; Proceedings Except as specifically disclosed in the Disclosure Materials, there is no action, suit, notice of violation, proceeding or investigation pending or, to the best knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries or any of their respective properties before or by any court, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) which (i) adversely affects or challenges the legality, validity or enforceability of any Transaction Document or the Securities or (ii) could, individually or in the aggregate, have or result in a Material Adverse Effect.

  • Litigation; Governmental Proceedings There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental proceeding pending or, to the Company’s knowledge, threatened against, or involving the Company or, to the Company’s knowledge, any executive officer or director which has not been disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus or in connection with the Company’s listing application for the listing of the Public Securities on the Exchange.