Common use of No Actions or Proceedings Clause in Contracts

No Actions or Proceedings. No action or proceeding shall have been instituted nor shall any governmental action be threatened before any Governmental Authority, nor shall any order, judgment or decree have been issued or proposed to be issued by any Governmental Authority that would have a material adverse effect on the ability of the Borrower, the Borrower Parent or Guarantor to perform their respective obligations under the Basic Agreements;

No Actions or Proceedings. No action or proceeding shall have been instituted nor shall any governmental action be threatened before any Governmental Authority, nor shall any order, judgment or decree have been issued or proposed to be issued by any Governmental Authority that would have a material adverse effect Authority, on the ability Advance Date to set aside, restrain, enjoin or prevent the completion and consummation of this Loan Agreement or the Borrower, the Borrower Parent or Guarantor to perform their respective obligations under the Basic Agreements;transactions contemplated hereby.