Common use of Litigation and Default Clause in Contracts

Litigation and Default. (i) There is no material legal proceeding pending against the Manager, any of the Manager's respective property, or, to the Manager's Knowledge, any executive officer or director of the Manager (in their capacity as such), except as set forth on Schedule 3.02(d); (ii) to the Knowledge of the Manager, no material legal proceeding has been threatened against the Manager, any of the Manager's respective property, or any executive officer or director of the Manager (in their capacity as such) nor, to the Knowledge of the Manager, is there any claim or grounds for any claim that might result in any such legal proceeding; (iii) the Manager is not in material breach of any provisions of any Legal Requirement; (iv) to the Knowledge of the Manager, no event has occurred that, with due notice or lapse of time or both, would constitute a material breach of any Legal Requirement on the part of the Manager; and (v) to the Knowledge of the Manager, there is no investigation of a Governmental Authority pending or threatened against the Manager, other than as have not had and would not reasonably be expected to have a Material Adverse Effect with respect to the Manager. There are no outstanding, pending or, to the Knowledge of the Manager, threatened orders, writs, judgments, decrees, injunctions or settlements against the Manager that: (x) prohibit or restrict the consummation of the Transactions; or (y) have, or would reasonably be expected to have, a Material Adverse Effect with respect to the Manager.

Litigation and Default. (i) There is no material legal proceeding pending against the ManagerManager or any of its Subsidiaries, any of the Manager's ’s or its Subsidiaries’ respective property, or, to the Manager's ’s Knowledge, any executive officer or director of the Manager (in their capacity as such), except as set forth on Schedule 3.02(d); (ii) to the Knowledge of the Manager, no material legal proceeding has been threatened against the ManagerManager or any of its Subsidiaries, any of the Manager's ’s or its Subsidiaries’ respective property, or any executive officer or director of the Manager (in their capacity as such) nor, to the Knowledge of the Manager, is there any claim or grounds for any claim that might result in any such legal proceeding; (iii) neither the Manager nor any of its Subsidiaries is not in material breach of any provisions of any Legal Requirement; (iv) to the Knowledge of the Manager, no event has occurred that, with due notice or lapse of time or both, would constitute a material breach of any Legal Requirement on the part of the ManagerManager or any of its Subsidiaries; and (v) to the Knowledge of the Manager, is there is no investigation of a Governmental Authority pending or threatened against the ManagerManager or any of its Subsidiaries, other than as have not had and would not reasonably be expected to have a Material Adverse Effect with respect to the Manager. There are no outstanding, pending or, to the Knowledge of the Manager, threatened orders, writs, judgments, decrees, injunctions or settlements against the Manager or any of its Subsidiaries that: (x) prohibit or restrict the consummation of the Transactions; or (y) have, or would reasonably be expected to have, a Material Adverse Effect with respect to the Manager.

Litigation and Default. (i) There is no material legal proceeding pending against the Manager, BRG Manager or any of the Manager's respective property, or, to the Manager's Knowledge, any executive officer or director of the Manager (in their capacity as such), its Subsidiaries except as set forth on Schedule 3.02(d3.01(e); (ii) to the Knowledge of the Manager, no material legal proceeding has been threatened against the Manager, any of the Manager's respective property, or any executive officer or director of the Manager (in their capacity as such) writing nor, to the Knowledge of the BRG Manager, is there orally against BRG Manager or any claim or grounds for any claim that might result in any such legal proceedingof its Subsidiaries; (iii) to the Knowledge of BRG Manager, neither BRG Manager nor any of its Subsidiaries is not in material breach of any provisions of any Legal Requirement; (iv) to the Knowledge of the BRG Manager, no event has occurred that, with due notice or lapse of time or both, would constitute a material breach of any Legal Requirement on the part of the ManagerBRG Manager or any of its Subsidiaries; and (v) to the Knowledge of the Manager, there is no investigation of a Governmental Authority pending or or, to the Knowledge of BRG Manager, threatened against the ManagerBRG Manager or any of its Subsidiaries, other than as have not had and would not reasonably be expected to have a Material Adverse Effect with respect to the ManagerEffect. There are no outstanding, pending or, to the Knowledge of the BRG Manager, threatened orders, writs, judgments, decrees, injunctions or settlements against the BRG Manager or any of its Subsidiaries that: (x) prohibit or restrict the consummation of the Transactions; or (y) have, or would reasonably be expected to have, a Material Adverse Effect with respect to the ManagerBRG Manager or Manager Sub.