Common use of No Material Clause in Contracts

No Material. Proceedings No action or administrative proceeding of or before any court, arbitral body or agency which is not covered by adequate insurance or which might have a material adverse effect on the business or financial condition of the Guarantor Group taken as a whole has been started or is reasonably likely to be started.

Appears in 5 contracts

Samples: Secured Facility Agreement, Secured Facility Agreement (Teekay LNG Partners L.P.), Secured Facility Agreement (Teekay LNG Partners L.P.)

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