Common use of No Governmental or Other Proceeding or Litigation Clause in Contracts

No Governmental or Other Proceeding or Litigation. No order of any court or administrative agency is in effect which restrains or prohibits the transactions contemplated hereby, and no suit, action, investigation, inquiry or proceeding by any governmental body or other person, or legal or administrative proceeding has been instituted or threatened which questions the validity or legality of the transactions contemplated hereby. There are no actions or proceedings pending or threatened arising out of or related to the Assets. There is no voluntary action or proceeding affecting the Assets pending or the commencement of which is contemplated by Seller, and to the best knowledge of Seller there is no involuntary action or proceeding pending or the commencement of which is threatened or contemplated affecting the Assets against Seller, under any federal, state or local bankruptcy, insolvency, reorganization, receivership, attachment or other similar law.