No Action, Suit or Proceeding. No action, suit or proceeding before any arbitrator or any governmental authority shall be pending, no investigation by any governmental authority shall be pending, and no action, suit or proceeding by any governmental authority shall be, to the knowledge of Borrower after reasonable inquiry, threatened against Borrower, seeking to restrain, prevent or change the transactions contemplated hereby in whole or in part or questioning the validity or legality of the transactions contemplated by the Loan Documents, or seeking to restrain or prevent construction of the Project or disbursement of any Advance.
No Action, Suit or Proceeding. There is no action, suit or proceeding pending against, or threatened against or affecting, the Company before any governmental or nongovernmental body which relates to the transactions contemplated by this Agreement.
No Action, Suit or Proceeding. No action, suit or proceeding will have been instituted before any court or governmental body or instituted or threatened by any Person which could materially affect the Assets, Obligations, financial condition or prospects of Seller or restrain or prevent the carrying out of the transactions contemplated hereby or seek damages in connection with such transactions.
No Action, Suit or Proceeding. There is not pending or, to the knowledge of the Dealer Manager, the Company or the Advisor, threatened, any action, suit, or proceeding before or by an court or other governmental body to which the Dealer Manager, the Company or the Advisor is a party, or to which any of their assets is subject, which might reasonably be expected to result in any material adverse change in the condition (financial or otherwise), business, or prospects of the Dealer Manager, the Company or the Advisor. It has not received any notice of an investigation regarding any actual or alleged non-compliance by the Dealer Manager, the Company or the Advisor with applicable laws, rules, or regulations. It shall notify Dealer, promptly in writing upon becoming aware, of any claim or complaint or any enforcement action or other proceeding with respect to Shares offered hereunder, other than any subpoena received in connection with a FINRA arbitration involving an unaffiliated broker-dealer or financial advisor, against the Company, the Dealer Manager, or the Dealer Manager’s principals, affiliates, officers, directors, employees or agents, or any person who controls the Dealer Manager, within the meaning of Section 15 of the Securities Act;
No Action, Suit or Proceeding shall have been instituted or shall have been threatened before any court or other governmental body or by any public authority to restrain, enjoin or prohibit the transactions contemplated herein, or which might subject any of the parties hereto or their directors or officers to any material liability, fine, forfeiture or penalty on the grounds that the transactions contemplated hereby, the parties hereto or their directors or officers, have violated any applicable law or regulation or have otherwise acted improperly in connection with the transactions contemplated hereby, and the parties hereto have been advised by counsel that, in the opinion of such counsel, such action, suit or proceeding raises substantial questions of law or fact which could reasonably be decided adversely to any party hereto or its directors or officers.
