Litigation Search. Agent shall have obtained, at Borrower’s cost, an independent search to verify that there are no bankruptcy, foreclosure actions or other material litigation or judgments pending or outstanding against the Additional Eligible Resorts, any portion of the Collateral, Borrower, or any Affiliate, (each a “Material Party”). The term “other material litigation” as used herein shall not include matters in which (i) a Material Party is plaintiff and no counterclaim is pending or (ii) which Agent determines, in its sole discretion, exercised in good faith, are immaterial due to settlement, insurance coverage, frivolity, or amount or nature of claim. Agent shall not be obligated to fund any Advance if it determines that any such litigation is pending.
Litigation Search. Lender shall have obtained, at Borrower's cost, an independent search to verify that there are no bankruptcy, foreclosure actions or other material litigation or judgments pending or outstanding against the Additional Eligible Resorts, any portion of the Collateral, Borrower, or any Affiliate, (each a "MATERIAL PARTY"). The term "other material litigation" as used herein shall not include matters in which (i) a Material Party is plaintiff and no counterclaim is pending or (ii) which Lender determines, in its sole discretion exercised in good faith, are immaterial due to settlement, insurance coverage, frivolity, or amount or nature of claim. Lender shall not be obligated to fund any Advance if it determines that any such litigation is pending.
Litigation Search. Agent shall have obtained, at Borrower's cost, an independent search to verify that there are no bankruptcy, foreclosure actions or other material litigation or judgments pending or outstanding against the Additional Eligible Resorts, any portion of the Collateral, Borrower, or any Affiliate, (each a "MATERIAL PARTY"). The term "other material litigation" as used herein shall not include matters in which (i) a Material Party is plaintiff and no counterclaim is pending or (ii) which Agent determines, in its sole discretion, exercised in good faith, are immaterial due to settlement, insurance coverage, frivolity, or amount or nature of claim. Agent shall not be obligated to fund any Advance if it determines that any such litigation is pending.
Litigation Search. The Litigation Search is not conclusively capable of revealing whether or not there is any originating process, amended originating process pending or any appeal pending in proceedings in which any party is a defendant or respondent as notice of these matters might not be entered on the court registers immediately. The Litigation Search would not reveal any proceedings against any predecessor entities that may have merged with or into any party under the laws of any jurisdiction nor any proceedings against any of the parties in a name other than the relevant party’s current name.
Litigation Search. The Designated Representative shall receive evidence satisfactory to the Holders that no bankruptcy, foreclosure or other material litigation or judgments are outstanding against the Resort, the Vacation Club or Company, except as disclosed in the Company’s periodic filings with the SEC or on Schedule 5.18 hereto. Environmental Site Assessment Reports . The Designated Representative shall have received the existing Phase 1 Environmental Site Assessment Report with respect to the Resort and the Designated Representative shall be satisfied with the contents of such report. No Material Adverse Effect . As of the Closing Date, there shall not have occurred any Material Adverse Change from that which was reflected on the financial statements dated September 30, 2012, provided to the Designated Representative or any liabilities or obligations of any nature with respect to Bluegreen Corporation which could reasonably be likely to have a Material Adverse Effect. The Designated Representative shall have received (A) audited, annual financial statements of Bluegreen Corporation for such prior years as the Designated Representative shall reasonably request in writing, and (B) annual financial statements of each Association and the Vacation Club for such prior years as the Designated Representative shall reasonably request in writing. Residual Interest; Membership Interest .
Litigation Search. Agent shall receive evidence satisfactory to Agent that no bankruptcy, foreclosure or other material litigation or judgments are outstanding against the Primary Resorts, Secondary Resorts or Borrower, except as disclosed in Borrower’s periodic filings with the Securities and Exchange Commission.
Litigation Search. Lender shall have obtained, at Borrower's cost, an independent search to verify that there are no bankruptcy, foreclosure actions or other material litigation or judgments pending or outstanding against the Resorts, any portion of the Collateral, Borrower, Guarantor, or any Affiliates of Borrower or Guarantor (each a "Material Party"). The term "other material litigation" as used herein shall not include matters in which (i) a Material Party is plaintiff and no counterclaim is pending or (ii) which Lender determines, in its sole discretion exercised in good faith, are immaterial due to settlement, insurance coverage, frivolity, or amount or nature of claim. Lender shall not be obligated to fund any Advance if it determines that any such litigation is pending.
Litigation Search a search by Black & White Investigation, a search agent engaged by us to conduct litigation search, on [·] 2005 revealed with respect to each of the Selling Shareholders that no petition for its winding-up had been filed against it/him within the period of 10 years ending on [·] 2005;
Litigation Search. Agent shall have obtained, at Borrower's cost, an independent search to verify that there are no bankruptcy, foreclosure actions or other material litigation or judgments pending or outstanding against the Additional Eligible Resorts, any portion of the Collateral, Borrower, or any Affiliate, (each a “Material Party”).
Litigation Search. Lender shall receive evidence satisfactory to Lender that no bankruptcy, foreclosure or other material litigation or judgments are outstanding against the Primary Projects or Borrower, except as disclosed in Borrower’s periodic filings with the Securities and Exchange Commission.
