Litigation; Agreements Clause Samples
The 'Litigation; Agreements' clause defines the parties' obligations and procedures regarding legal disputes and the handling of related agreements. Typically, this clause outlines how parties must notify each other of any litigation, cooperate in legal proceedings, and may restrict entering into settlements or agreements without mutual consent. Its core function is to ensure transparency and coordination between parties when facing legal actions, thereby minimizing risks and preventing unilateral decisions that could adversely affect the other party.
Litigation; Agreements. There are no judicial, administrative, mediation or arbitration actions, suits or proceedings pending or threatened against or affecting Borrower (or, if Borrower is a partnership or a limited liability company, any of its general partners or members) or the Property which, if adversely determined, would materially impair either the Property or Borrower’s ability to perform the covenants or obligations required to be performed under the Loan Documents. Borrower is not a party to any agreement or instrument or subject to any restriction which might adversely affect Borrower or the Property, or Borrower’s business, properties, operations or condition, financial or otherwise. Borrower is not in default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any Permitted Encumbrance or any other agreement or instrument to which it is a party or by which it or the Property is bound.
Litigation; Agreements. There are no judicial, administrative, mediation or arbitration actions, suits or proceedings pending or, to the best of Borrower’s knowledge, information and belief, threatened against or affecting Borrower (or, if Borrower is a partnership or a limited liability company, any of its general partners or members) or the Property which, if adversely determined, would materially impair either the Property or Borrower’s ability to perform the covenants or obligations required to be performed under the Loan Documents. Borrower is not a party to any agreement or instrument or subject to any restriction which might materially and adversely affect Borrower or the Property, or Borrower’s business, properties, operations or condition, financial or otherwise. To the best of Borrower’s knowledge, information and belief, Borrower is not in default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any Permitted Encumbrance.
Litigation; Agreements. There are no judicial, administrative, mediation or arbitration actions, suits or proceedings pending or, to the best of Borrower’s knowledge, information and belief, threatened against or affecting Borrower (or, as the case may be, any of the entities comprising Borrower) or, if Borrower (or, as the case may be, any of the entities comprising Borrower) is a partnership or a limited liability company, any of its general partners or members) or the Property which, if adversely determined, would materially impair either the Property or Borrower’s (or, as the case may be, any of such entities’) ability to perform the covenants or obligations required to be performed under the Loan Documents. Borrower is not a party to any agreement or instrument or subject to any restriction which might materially and adversely affect Borrower or the Property, or Borrower’s business, properties, operations or condition, financial or otherwise. Borrower is not in default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any Permitted Encumbrance or any other agreement or instrument to which it is a party or by which it or the Property is bound.
Litigation; Agreements. There are no judicial, administrative, mediation or arbitration actions, suits or proceedings pending or threatened against or affecting any CNL Affiliate or Intrawest Entity (or, if any CNL Affiliate or Intrawest Entity is a partnership or a limited liability company, any of its general partners or members) or any Individual Properties which, if adversely determined, would materially impair any Individual Properties’ or any CNL Affiliate’s or Intrawest Entity’s ability to perform the covenants or obligations required to be performed under the Loan Documents, the Head Lease or the Master Leases, as applicable. None of CNL Affiliate or Intrawest Entity is a party to any agreement or instrument or subject to any restriction which might adversely affect any Individual Property, or any Borrowers’, Head Lessee’s, Intrawest Tenant’s, Intrawest’s or Indemnitor’s business, properties, operations or condition, financial or otherwise. No Borrower is in default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any Permitted Encumbrance or any other agreement or instrument to which it is a party or by which it or any Individual Property is bound.