Common use of Litigation Representation Clause in Contracts

Litigation Representation. Except for those matters disclosed in "Notes 19 and 24 (b)" of the 1996 Financial Statements, there is no litigation (including without limitation, derivative actions), arbitration proceedings or governmental proceedings pending or, to the knowledge of the Borrower, threatened against it or any Subsidiary which involves the reasonable probability of a judgment not covered by insurance and which would have a Material Adverse Effect on the Borrower and its Consolidated Subsidiaries.

Litigation Representation. Except for those matters disclosed in "Notes 19 and 24 (b)" of the 1996 Financial Statements, there is no litigation (including without limitation, derivative actions), arbitration proceedings or governmental proceedings pending or, to the knowledge of the BorrowerCompany, threatened against it or any Subsidiary which involves the reasonable probability of a judgment not covered by insurance and which would have a Material Adverse Effect on the Borrower Company and its Consolidated Subsidiaries.