Common use of No Governmental Order or Action Clause in Contracts

No Governmental Order or Action. No action, suit or proceeding shall be commenced, pending or threatened before or by any Governmental Entity or before any arbitrator and no investigation by any Governmental Entity shall have commenced wherein an unfavorable injunction, judgment, order, decree, ruling, charge or other action would (A) restrain or prevent consummation of, or change, any of the Contemplated Transactions or question the validity or legality of the Contemplated Transactions, (B) cause any of the Contemplated Transactions to be rescinded following consummation, (C) affect adversely the right of Lender to own Borrower Common Shares or (D) affect materially and adversely the right of Borrower or ALSC to own its assets and to operate its businesses (and no such injunction, judgment, order, decree, ruling, or charge shall be in effect);

Appears in 2 contracts

Samples: Loan, Convertible Preferred Stock and Convertible Senior Secured Note Purchase Agreement (Vespoint LLC), Security Agreement (Midwest Holding Inc.)

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No Governmental Order or Action. No action, suit or proceeding shall be commenced, pending or threatened before or by any Governmental Entity or before any arbitrator and no investigation by any Governmental Entity shall have commenced wherein an unfavorable injunction, judgment, order, decree, ruling, charge or other action would (A) restrain or prevent consummation of, or change, any of the Contemplated Transactions or question the validity or legality of the Contemplated Transactions, (B) cause any of the Contemplated Transactions to be rescinded following consummation, or (C) affect adversely the right of Lender to own Borrower Common Shares or (D) affect materially and adversely the right of Borrower or ALSC to own its assets and or to operate its businesses (and no such injunction, judgment, order, decree, ruling, ruling or charge shall be in effect);

Appears in 2 contracts

Samples: Loan, Convertible Preferred Stock and Convertible Senior Secured Note Purchase Agreement (Vespoint LLC), Security Agreement (Midwest Holding Inc.)

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No Governmental Order or Action. No action, suit or proceeding shall be commenced, pending or threatened before or by any Governmental Entity or before any arbitrator and no investigation by any Governmental Entity shall have commenced wherein an unfavorable injunction, judgment, order, decree, ruling, charge or other action would (A) restrain or prevent consummation of, or change, any of the Contemplated Transactions or question the validity or legality of the Contemplated Transactions, (B) cause any of the Contemplated Transactions to be rescinded following consummation, (C) affect adversely the right of Lender Purchaser to own Borrower Common Purchased Shares or, where applicable, the Conversion Shares or (D) affect materially and adversely the right of Borrower the Company or ALSC any of its Subsidiaries to own its assets and to operate its businesses (and no such injunction, judgment, order, decree, ruling, or charge shall be in effect);

Appears in 1 contract

Samples: Securities Purchase Agreement (Midwest Holding Inc.)

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