Common use of Litigation; Adverse Effects Clause in Contracts

Litigation; Adverse Effects. (i) Except as set forth in the most recent Financial Statements, there is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, or before or by any Governmental Authority, pending or, to best of Borrower's knowledge, threatened against the REIT or any Property of the REIT, which will (A) result in a Material Adverse Effect on the REIT, (B) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (C) materially and adversely affect the ability of the REIT to perform its obligations as contemplated in the Loan Documents. (ii) The REIT is not (A) in violation of any applicable law, which violation has a Material Adverse Effect on the REIT, or (B) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REIT. There are no Proceedings pending or, to the best of Borrower's knowledge, threatened against the REIT, which, if adversely decided, would have a Material Adverse Effect on the REIT, Borrower or any Borrowing Base Property.

Litigation; Adverse Effects. (ia) Except as set forth in the most recent Financial Statements, there There is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, or before or by any Governmental Authority, pending or, to the best of Borrower's knowledge, threatened against the REIT Borrower or any Property of the REITBorrower (including any Unencumbered Pool Property), which will (Ai) result in a Material Adverse Effect on the REITBorrower, (Bii) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (Ciii) materially and adversely affect the ability of the REIT Borrower to perform its obligations as contemplated in the Loan Documents. (iib) The REIT Borrower is not (Ai) in violation of any applicable law, which violation has a Material Adverse Effect on the REITBorrower, or (Bii) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REITBorrower. There are no material Proceedings pending or, to the best of Borrower's knowledge, threatened against the REIT, which, if adversely decided, would have a Material Adverse Effect on the REIT, Borrower or any Borrowing Base Property.,

Litigation; Adverse Effects. (i) Except as set forth in the most recent Financial Statements, there There is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, or before or by any Governmental Authority, pending or, to the best of Borrower's knowledge, threatened against the REIT Borrower or any Property of the REITBorrower (including any Borrowing Base Property), which will if adversely determined would (A) result in a Material Adverse Effect on the REITBorrower or any Borrowing Base Property, (B) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (C) materially and adversely affect the ability of the REIT Borrower to perform its obligations as contemplated in the Loan Documents. (ii) The REIT Borrower is not (A) in violation of any applicable law, which violation has a Material Adverse Effect on the REITBorrower or any Borrowing Base Property, or (B) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REITBorrower or any Borrowing Base Property. There are no material Proceedings pending or, to the best of Borrower's knowledge, threatened against the REITBorrower or any Borrowing Base Property, which, if adversely decided, would have a Material Adverse Effect on the REIT, Borrower or any Borrowing Base Property.

Litigation; Adverse Effects. (ia) Except as set forth in the most recent Financial Statements, there There is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, or before or by any Governmental Authority, pending or, to the best of Borrower's knowledge, threatened against the REIT Borrower, any Affiliate of Borrower or any Portfolio Property of the REIT(including any Borrowing Base Property), which will (Ai) result in a Material Adverse Effect on the REITBorrower, (Bii) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (Ciii) materially and adversely affect the ability of the REIT Borrower to perform its obligations as contemplated in the Loan Documents. (iib) The REIT Neither Borrower nor any Guarantor is not (Ai) in violation of any applicable law, which violation has a Material Adverse Effect on the REITBorrower or on any Guarantor, or (Bii) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REITOrder. There are no material Proceedings pending or, to the best of Borrower's knowledge, threatened against the REITBorrower, any Guarantor or any Portfolio Property, which, if adversely decided, would have a Material Adverse Effect on the REIT, Borrower or any Borrowing Base PropertyBorrower.

Litigation; Adverse Effects. (ia) Except as set forth in the most recent Financial Statements, there There is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, or before or by any Governmental Authority, pending or, to the best of Borrower's knowledge, threatened against the REIT Borrower or any Property of the REITBorrower (including any Unencumbered Pool Property), which will (Ai) result in a Material Adverse Effect on the REITBorrower, (Bii) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (Ciii) materially and adversely affect the ability of the REIT Borrower to perform its obligations as contemplated in the Loan Documents. (iib) The REIT Borrower is not (Ai) in violation of any applicable law, which violation has a Material Adverse Effect on the REITBorrower, or (Bii) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REITBorrower. There are no material Proceedings pending or, to the best of Borrower's -66- 72 knowledge, threatened against the REITBorrower or any Unencumbered Pool Property, which, if adversely decided, would have a Material Adverse Effect on the REIT, Borrower or any Borrowing Base PropertyBorrower.

Litigation; Adverse Effects. (i) Except as set forth in the most recent Financial Statementsotherwise disclosed on Schedule 4.1(j), there is no action, suit, proceeding, governmental investigation or arbitration, at law or in equity, by or before or by any Governmental Authority, pending or, to best of Borrower's ’s knowledge, threatened against the REIT or any Property of the REIT, which will would (A) result in a Material Adverse Effect on the REIT, (B) materially and adversely affect the ability of any party to any of the Loan Documents to perform its obligations thereunder, or (C) materially and adversely affect the ability of the REIT to perform its obligations as contemplated in the Loan Documents. (ii) The REIT is not (A) in violation of any applicable law, which violation has a Material Adverse Effect on the REIT, or (B) subject to or in default with respect to any Court Order which has a Material Adverse Effect on the REIT. There are no Proceedings pending or, to the best of Borrower's ’s knowledge, threatened against the REIT, which, if adversely decided, which would have a Material Adverse Effect on the REIT, Borrower REIT or any Borrowing Base PropertyBorrower.