Litigation Pending Clause Samples
The 'Litigation Pending' clause serves to address situations where one or more parties to an agreement are currently involved in ongoing legal proceedings. Typically, this clause requires the disclosing party to inform the other party about any lawsuits, claims, or governmental investigations that could materially affect the agreement or the party's ability to fulfill its obligations. For example, if a company is being sued for patent infringement, it must disclose this information before finalizing a contract. The core function of this clause is to ensure transparency and allow the other party to assess potential risks associated with entering into the agreement.
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Litigation Pending. There is no action, suit, proceeding or investigation pending or, to the best of the Purchaser's knowledge, threatened, against the Purchaser, which, either in any one instance or in the aggregate, if determined adversely to the Purchaser would adversely affect the purchase of the Mortgage Loans or the execution, delivery or enforceability of this Agreement or result in any material liability of the Purchaser, or draw into question the validity of this Agreement, or the Mortgage Loans or have a material adverse effect on the financial condition of the Purchaser;
Litigation Pending. There is no action, suit, proceeding or investigation pending or, to the best of the Purchaser’s knowledge, threatened, against the Purchaser, which, either in any one instance or in the aggregate, if determined adversely to the Purchaser would adversely affect the Purchasers ability to purchase of the Mortgage Loans or the execution, delivery or enforceability of this Agreement or result in any material liability of the Purchaser, or draw into question the validity of this Agreement, or the Mortgage Loans or have a material adverse effect on the financial condition of the Purchaser;
Litigation Pending. There is no litigation, tax claim, proceeding ------------------ or dispute pending, or, to the knowledge of the Company, threatened, against or affecting the Company or its property, the adverse determination of which might affect the Company's financial condition or operations or impair the Company's ability to perform its obligations under this Agreement or under the Warrant, the Note or any other instrument or agreement required by this Agreement.
Litigation Pending. There is no action, suit, proceeding or investigation pending or, to the best of the Servicer's knowledge, threatened, against the Servicer, which, either in any one instance or in the aggregate, if determined adversely to the Servicer would adversely affect the sale of the Mortgage Loans to the Purchaser or the execution, delivery or enforceability of this Agreement or result in any material liability of the Servicer, or draw into question the validity of this Agreement, or have a material adverse effect on the financial condition of the Servicer.
Litigation Pending. There is no litigation, tax claim, proceeding or dispute pending, or, to the knowledge of Borrower, threatened, against or affecting Borrower or its property, the adverse determination of which might affect Borrower's financial condition or operations or impair Borrower's ability to perform its obligations under this Agreement or under the Warrant, the Note or any other instrument or agreement required by this Agreement;
Litigation Pending. Except as specifically identified on the Balance Sheet or footnotes thereto or set forth in Schedule 4.22:
(i) There are no legal, administrative, arbitration or other proceedings or governmental investigations pending or, to the best knowledge of the Designated Sellers or the Company, threatened, against the Sellers or the Company, relating to its business or the Company or its properties (including leased property), or the transactions contemplated by this Agreement, nor is there any basis known to the Company or any Seller for any such action.
(ii) There are no judgments, decrees or orders of any court, or any governmental department, commission, board, agency or instrumentality binding upon the Designated Sellers or the Company relating to its business or the Company the effect of which is to prohibit any business practice or the acquisition of any property or the conduct of any business by the Company or which limit or control or otherwise adversely affect its method or manner of doing business.
(iii) There are no charges of discrimination (relating to sex, age, race, national origin, handicap or veteran status) or unfair labor practices pending or, to the best knowledge of the Designated Sellers or the Company, threatened before any governmental or regulatory agency or authority or any court relating to employees of the Company.
Litigation Pending. Except as specifically identified on the Balance Sheet or footnotes thereto or set forth in Schedule 5.22:
(i) There are no legal, administrative, arbitration or other proceedings or governmental investigations pending or, to the best knowledge of Seller or the Company, threatened, against the Seller or the Company, relating to its business or the Company or its properties (including leased property), or the transactions contemplated by this Agreement, nor is there any basis known to the Company or any Seller for any such action.
(ii) There are no judgments, decrees or orders of any court, or any governmental department, commission, board, agency or instrumentality binding upon Seller or the Company relating to its business or the Company the effect of which is to prohibit any business practice or the acquisition of any property or the conduct of any business by the Company or which limit or control or otherwise adversely affect its method or manner of doing business.
(iii) There are no charges of discrimination (relating to sex, age, race, national origin, handicap or veteran status) or unfair labor practices pending or, to the best knowledge of the Seller or the Company, threatened before any governmental or regulatory agency or authority or any court relating to employees of the Company.
Litigation Pending. The Company and the Seller represent that:
(i) There are no legal, administrative, arbitration or other proceedings or governmental investigations pending or, to the best knowledge of the Seller or the Company, threatened, against the Sellers or the Company, relating to its business or the Company or its properties (including leased property), or the transactions contemplated by this Agreement, nor is there any basis known to the Company or Seller for any such action.
(ii) There are no judgments, decrees or orders of any court, or any governmental department, commission, board, agency or instrumentality binding upon the Seller or the Company relating to its business or the Company the effect of which is to prohibit any business practice or the acquisition of any property or the conduct of any business by the Company or which limit or control or otherwise adversely affect its method or manner of doing business.
(iii) There are no charges of discrimination (relating to sex, age, race, national origin, handicap or veteran status) or unfair labor practices pending or, to the best knowledge of the Seller or the Company, threatened before any governmental or regulatory agency or authority or any court relating to employees of the Company.
Litigation Pending. There is no action, suit, proceeding or investigation pending or, to the best of the Owner's knowledge, threatened, against the Owner, which, either in any one instance or in the aggregate, if determined adversely to the Owner would adversely affect the Owner's execution, delivery or enforceability of this Agreement or result in any material liability of the Owner or draw into question the validity of this Agreement or the Mortgage Loans or have a material adverse effect on the financial condition of the Owner;