Common use of No proceedings pending or threatened Clause in Contracts

No proceedings pending or threatened. Other than the existing legal proceedings set out in Schedule 5 (Existing Legal Proceedings), no litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a Material Adverse Effect have been started or threatened against any Obligor (other than the Approved Manager) or any of their Subsidiaries.