Litigation and Insolvency. Except for matters affecting the radio broadcasting industry generally, no litigation, action, suit, judgment, proceeding, complaint or investigation shall be pending or outstanding before any forum, court or governmental body, department or agency of any kind which has the stated purpose or the probable effect of enjoining or preventing the consummation of this Agreement or the transaction contemplated hereby or to recover damages by reason thereof, or which questions the validity of any action taken or to be taken pursuant to or in connection with this Agreement. No insolvency proceedings of any character including, without limitation, reorganization, receivership, composition or arrangement with creditors, voluntary or involuntary, affecting Buyer or any of its assets or properties shall be pending, and Buyer shall not have taken any action in contemplation of, or which would constitute the basis for, the institution of any such insolvency proceedings.
Litigation and Insolvency. Except for matters affecting the radio broadcasting industry generally, no litigation, action, suit, judgment, proceeding, complaint or investigation shall be pending or outstanding before any forum, court, or governmental body, department or agency of any kind, relating to the operation of Station KEYH or which has the stated purpose or the probable effect of enjoining or preventing the consummation of this Agreement, or the transaction contemplated hereby or to recover damages by reason thereof, or which questions the validity of any action taken or to be taken pursuant to or in connection with this Agreement; provided that if there is pending any litigation relating to Station -------- KEYH that could not reasonably be expected to or would not reasonably be expected to adversely affect the operation of Station KEYH in accordance with Seller's past operations or that could not reasonably be expected to or would not reasonably be expected to prevent a consummation of the transactions contemplated hereby, then the existence of such litigation shall not be considered as the failure of a condition to Buyer's obligation to close if its lenders agree to fund the loans that enable the consummation of the transactions contemplated hereby despite the existence of such litigation (and LBI Holdings, Buyer and Seller shall cooperate to seek to convince such lenders (but shall not be obligated to mislead such lenders in any way) to fund such loans despite the existence of such litigation). No insolvency proceedings of any character including, without limitation, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting Seller, Artlite or any of their respective assets or properties (other than the stock of its subsidiaries (other than any subsidiary that is a Seller hereunder)), shall be pending, and neither Seller nor Artlite shall have taken any action in contemplation of, or which would constitute the basis for, the institution of any such insolvency proceedings.
Litigation and Insolvency. 11.1 Subject to Clause 15 herein, none of the Vsource Companies has been notified of any civil, criminal or arbitration proceedings pending or threatened against it .
Litigation and Insolvency. 11.1 Subject to Clause 15 herein, none of the Vsource Companies has been notified of any civil, criminal or arbitration proceedings pending or threatened against it. Sale and Purchase Agreement Vsource (Malaysia) Sdn Bhd Eastern Polar Sdn Bhd Execution Copy
Litigation and Insolvency. Except for matters affecting the radio broadcasting industry generally, no litigation, action, suit, judgment, proceeding, complaint or investigation shall be pending or outstanding before any forum, court, or governmental body, department or agency of any kind, relating to the operation of the Station or which has the stated purpose or the probable effect of enjoining or preventing the consummation of this Agreement, or the transaction contemplated hereby or to recover damages by reason thereof, or which questions the validity of any action taken or to be taken pursuant to or in connection with this Agreement. No insolvency proceedings of any character including, without limitation, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting Seller or any of its assets or properties, shall be pending, and Seller shall not have taken any action in contemplation of, or which would constitute the basis for, the institution of any such insolvency proceedings.
Litigation and Insolvency. Except for matters affecting the radio-broadcasting industry generally, no litigation, action, suit, judgment, proceeding, complaint or investigation shall be pending or outstanding before any forum, court, or governmental body, department or agency of any kind, relating to the Purchased Assets or the ownership or operation of the Stations or which has the stated purpose or the probable effect of enjoining or preventing the consummation of this Agreement, or the transaction contemplated hereby or to recover damages by reason thereof, or which questions the validity of any action taken or to be taken pursuant to or in connection with this Agreement. No insolvency proceedings of any character including receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting Seller or any of its assets or properties, shall be pending, and Seller shall not have taken any action in contemplation of, or which would constitute the basis for, the institution of any such insolvency proceedings.
Litigation and Insolvency. 11.1 Save as disclosed in the Disclosure Letter and to the best of the Seller’s knowledge, there is no legal action, suit, proceeding, claim, arbitration or investigation which have Material Adverse Effect (the “Action”) pending or currently threatened against any member of the Group, any activities, properties or assets of any member of the Group, or against any officer, director or employee of any member of the Group in connection with such officer’s, director’s or employee’s relationship with, or actions taken on behalf of any member of the Group. To the best of the Seller’s knowledge, information and reasonable belief, there is no circumstance or matter which may give rise to any such Action.
Litigation and Insolvency. (A) The Company is not engaged whether as plaintiff, defendant or otherwise in any material litigation or arbitration, administrative or criminal or other proceeding and no litigation or arbitration, administrative or criminal or other proceedings against the Company is pending, threatened or expected and so far as the Vendors are aware, there is no fact or circumstance likely to give rise to any such litigation or arbitration, administrative or criminal or other proceedings or to any proceedings against any director, officer or employee (past or present) of the Company in respect of any act or default for which the Company might be vicariously liable.
Litigation and Insolvency. 7.1 There is no outstanding judgment, order, decree, arbitral award or decision of any court, tribunal, arbitrator or governmental agency against the Seller or any person for whose acts the Seller is or may be vicariously liable in connection with any of the Assets.
Litigation and Insolvency. 4.1 Except for the Disclosed Matters, the Group is not engaged, either on its own account or vicariously, in any claim, demand, litigation, arbitration or tribunal proceedings or any governmental investigations that, alone or in aggregate, may have a material adverse effect on the Group’s business operation or financial condition or the Proposed Transaction. In addition, except for the Disclosed Matters, no such claim, demand, litigation, arbitration or tribunal proceedings or governmental enquiries or investigations are pending or threatened by (other than claim, demand, litigation, arbitration or tribunal proceedings relating to debt collection or tort recourse brought against any third party arising out of the ordinary course of business) or against any Group Member, nor does the Issuer know any such claim, demand, litigation, arbitration or tribunal proceedings or governmental enquiries or investigations which may result in a material adverse effect.
