No Material Proceedings. The Borrower shall ensure that no litigation, arbitration or administrative proceeding on or before any court, arbitral body or agency against any member of the Group has been started or is reasonably likely to be started which have or, if adversely determined, are reasonably likely to have a Material Adverse Effect or which is not covered by adequate insurance.
Appears in 5 contracts
Samples: Loan Agreement (Teekay Offshore Partners L.P.), Secured Term Loan Facility (Teekay Offshore Partners L.P.), Loan Agreement
No Material Proceedings. The Borrower shall ensure that no litigation, arbitration or administrative proceeding on or before any court, arbitral body or agency against any member of the TOO Group has been started or is reasonably likely to be started which have or, if adversely determined, are reasonably likely to have a Material Adverse Effect or which is not covered by adequate insurance.
Appears in 2 contracts
Samples: Secured Term Loan Facility Agreement (Teekay Offshore Partners L.P.), Secured Term Loan Facility Agreement
