Common use of Litigation and Pending Proceedings Clause in Contracts

Litigation and Pending Proceedings. Except as disclosed in its SEC Reports as of the date of this Agreement or set forth in the ICB Disclosure Schedule: (a) Except for lawsuits involving collection of delinquent accounts and lawsuits which would not have a Material Adverse Effect on ICB, there are no claims, actions, suits, proceedings, mediations, arbitrations or investigations pending and served against ICB or any of its Subsidiaries or, to the knowledge of ICB or any of its Subsidiaries, threatened in any court or before any government agency or authority, arbitration panel or otherwise against ICB or any of its Subsidiaries. ICB does not have knowledge of a basis for any claim, action, suit, proceeding, litigation, arbitration or investigation against ICB or any of its Subsidiaries. (b) Neither ICB nor any of its Subsidiaries is: (i) subject to any material outstanding judgment, order, writ, injunction or decree of any court, arbitration panel or governmental agency or authority; (ii) presently charged with or, to the knowledge of ICB, under governmental investigation with respect to, any actual or alleged material violations of any law, statute, rule, regulation or ordinance; or (iii) the subject of any material pending or, to the knowledge of ICB, threatened proceeding by any government regulatory agency or authority having jurisdiction over their respective business, assets, capital, properties or operations.

Litigation and Pending Proceedings. (a) Except as disclosed in its SEC Reports as of the date of this Agreement or set forth in the ICB Disclosure Schedule: (a) Except for Schedule and lawsuits involving collection of delinquent accounts and lawsuits as to which would not have a Material Adverse Effect on ICBno counterclaims are asserted against MBC or either Subsidiary, there are no claims, actions, suits, proceedings, mediations, arbitrations or investigations pending and served against ICB or any of its Subsidiaries or, to the knowledge of ICB MBC or any of its Subsidiaries, either Subsidiary threatened in any court or before any government agency or authority, arbitration panel or otherwise against ICB (nor does MBC or either Subsidiary have any of its Subsidiaries. ICB does not have knowledge of a basis for any claim, action, suit, proceeding, litigation, arbitration or investigation against ICB investigation) against, by or any affecting MBC or either Subsidiary or which would prevent the performance of its Subsidiariesthis Agreement, declare the same unlawful or cause the rescission hereof. (b) Neither ICB Except as set forth in the Disclosure Schedule, neither MBC nor any of its the Subsidiaries isare: (i) subject to any material outstanding judgment, order, writ, injunction or decree of any court, arbitration panel or governmental agency or authority; (ii) presently charged with or, to the knowledge of ICBMBC or either Subsidiary, under governmental investigation with respect to, to any actual or alleged material violations of any law, statute, rule, regulation or ordinance; or (iii) the subject of any material pending or, to the knowledge of ICBMBC or either Subsidiary, threatened proceeding by any government regulatory agency or authority having jurisdiction over their its respective business, assets, capital, properties or operations.