Litigation; Governmental Action Clause Samples
The 'Litigation; Governmental Action' clause defines the parties' obligations and procedures in the event of legal proceedings or actions initiated by government authorities that may affect the agreement. Typically, this clause requires prompt notification if either party becomes involved in litigation or receives notice of a governmental investigation related to the contract. It may also outline cooperation requirements, rights to participate in the defense, or steps to mitigate potential impacts. The core function of this clause is to ensure transparency and coordinated response to legal or regulatory challenges, thereby protecting both parties' interests and minimizing disruption to their contractual relationship.
Litigation; Governmental Action. Except as set forth in Section 5 of the Disclosure Letter, as amended/or as otherwise disclosed to Agent and Lenders pursuant to Section 6.3 hereof, there are no actions or proceedings pending or, to the Knowledge of the Responsible Officers, threatened by or against any Loan Party or any of their respective Subsidiaries (x) with reasonably expected liability more than the Disclosure Amount or (y) that could be reasonably be expected to have a Material Adverse Effect.
Litigation; Governmental Action. There are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened in writing against Borrower or any of its Subsidiaries that could reasonably be expected to have a Material Adverse Effect.
Litigation; Governmental Action. Except as set forth in Section 6 of the Perfection Certificate, there are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened by or against Borrower or any of its Subsidiaries involving (i) more than, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000), (ii) fines, penalties or other sanctions by any Governmental Authority, or (iii) claims for injunctive or equitable relief. Except as set forth in Section 6 of the Perfection Certificate, there is no action or proceeding pending by or against Borrower or any of its Subsidiaries where Borrower or any Subsidiary has incurred in excess of $250,000 in legal expenses, including without limitation, attorneys’ fees, for which Borrower has not been reimbursed by third party insurance (i.e., not self-insurance) within 60 days of Borrower’s written request for reimbursement.
Litigation; Governmental Action. Except as set forth in Section 4.4 of the Perfection Certificates (which may be updated as provided by Section 4.1(a)(v), above, to include claims asserted by Borrower), there are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving (i) more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000), or (ii) fines, penalties or other sanctions by any Governmental Authority. Except as set forth in Section 4.4 of the Perfection Certificates (which may be updated as provided by Section 4.1(a)(v), above), there are no actions or proceedings pending by Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000). Except as set forth in Section 4.4 of the Perfection Certificates, there is no action or proceeding pending by or against Borrower or any of its Subsidiaries where Borrower or any Subsidiary has incurred in excess of Five Hundred Thousand Dollars ($500,000) in legal expenses, including without limitation, attorneys’ fees, for which Borrower has not been reimbursed by third party insurance (i.e., not self-insurance) within 60 days of Borrower’s written request for reimbursement.
Litigation; Governmental Action. 130 10.2.6 Transaction Agreement Conditions . . . . . 130 10.2.7
Litigation; Governmental Action. There shall not be pending or in force on the Closing Date any injunction, order or decree, or any complaint of any Governmental Authority praying for an order or decree, restraining or enjoining the consummation of the transactions contemplated by any one or more of the Transaction Documents, and no Governmental Authority shall have instituted, or notified either of Hercules or Mallinckrodt of its intention to institute, any suit, investigation or proceeding seeking to nullify, render ineffective or attack on any substantive grounds the legality of any one or more of the Transaction Documents and all of the conditions precedent to the obligations of F&F set forth in the F&F Transaction Agreement shall have been satisfied or waived in writing by F&F.
Litigation; Governmental Action. There shall ------------------------------- not be pending or in force on the Closing Date any injunction, order or decree, or any complaint of any Governmental Authority praying for an order or decree, restraining or enjoining the consummation of the transactions contemplated by any one or more of the Transaction Documents, and no Governmental Authority shall have instituted, or notified the Interested Persons of its intention to institute, any suit, investigation or proceeding seeking to nullify, render ineffective or attack on any substantive grounds the legality of any one or more of the Transaction Documents.
Litigation; Governmental Action. Except as disclosed to Lender in writing, there is no litigation with any person or any proceedings before a governmental agency now pending or threatened against Borrower.
Litigation; Governmental Action. Except as set forth in Section 4.4 of the Perfection Certificate, there are no actions or proceedings pending or, to the knowledge of the Responsible Officers, threatened by or against Borrower or any of its Subsidiaries involving (i) more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000), (ii) fines, penalties or other sanctions by any Governmental Authority, or (iii) claims for injunctive or equitable relief. Except as set forth in Section 4.4 of the Perfection Certificate, there is no action or proceeding pending by or against Borrower or any of its Subsidiaries where Borrower or any Subsidiary has incurred in excess of Five Hundred Thousand Dollars ($500,000) in legal expenses, including without limitation, attorneys’ fees, for which Borrower has not been reimbursed by third party insurance (i.e., not self-insurance) within 60 days of Borrower’s written request for reimbursement.
Litigation; Governmental Action. Other than the Bankruptcy Cases and any litigation disclosed, there are no actions or proceedings pending or, to the Knowledge of the Responsible Officers, threatened by or against any Loan Party or any of their respective Subsidiaries in writing (x) with reasonably expected liability more than the Disclosure Amount or (y) that could be reasonably be expected to have a Material Adverse Effect.