Common use of Notification of litigation Clause in Contracts

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by it, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved ManagerManager or the Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Partythe Ship owned by it, the Approved Manager, any Ship or the Earnings or the Insurances in respect of that Ship, any Ship Security Party or the Approved Manager, as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document, and each Borrower shall procure that all reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by it, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments taken as a whole.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved Manager, any the Ship or owned by it, the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any other Security PartyParty (other than the Glencore Guarantors and ST Shipping), the Approved ManagerManager or a Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, any Approved Manager or the Approved ManagerShip, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it such action has been instituted or is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent Lender with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, the Owners, any Security Party, the each Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments.

Notification of litigation. The Borrower will provide the Agent Lender with details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the any Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent Lender with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ship, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManagers or the Ship owned by it, any Ship or the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security Party, the any Approved ManagerManager or any Ship, any Ship or the its Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear likely that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the any Borrower, any Security Party, the Approved Manager, any Ship Managers or the Ships, their Earnings or the Insurances promptly upon becoming aware of any Ship as soon as the same where such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered might, if adversely determined, have a material in adverse effect on the context ability of that Borrower to perform its obligations under any Finance DocumentDocument to which it is a party.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Partythe Ship, the Approved Manager, any Ship or the Earnings or the Insurances in respect of the Ship, any Ship Security Party or the Approved Manager, as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the such legal or administrative action cannot be considered material in the context of any Finance Document, and the Borrower shall procure that reasonable measures are taken for the defence in any such legal or administrative action.

Notification of litigation. The Borrower will provide the Agent Lender with details of any legal or administrative action involving the Borrower, any other Security Party, or the Approved ManagerShip, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Party or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or any Ship, any Ship or the its Earnings or the its Insurances of any Ship exceeding $500,000 as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear to that Borrower and the Lenders that the legal or administrative action cannot be considered material and relevant in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, the Ship, the Earnings or the Insurances, any Security Party, Party or the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document, and the Borrower shall procure that all reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, any Approved Manager or the Approved ManagerShip owned by it, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the BorrowerBorrower or the Ship, its Earnings or its Insurances or any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship Party as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments taken as a whole.

Notification of litigation. The Borrower will provide the Facility Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving that Borrower or the BorrowerShip owned by it, its Earnings or its Insurances or any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship Party as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments taken as a whole.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action or investigation involving the Borrower, any Security Party, the Approved ManagerManager or the Ship, any Ship or the Time Charter, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action or investigation cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, the Approved Manager and any other Security PartyParty (to the best of its knowledge), the Approved ManagerSPA, any Ship or Ship, the Management Agreement, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ship, its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving that Borrower, the BorrowerShip owned by it, the Earnings or the Insurances in respect of that Ship, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the BorrowerBorrowers, any other Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, any the Ship or the Earnings or the Insurances of any the Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments.

Notification of litigation. The Borrower will provide the Facility Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, the any Owner or a Ship owned by it, the Earnings or the Insurances in respect of that Ship, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Owner, any other Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the any Approved Manager, any the Ship or owned by it, the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance DocumentDocument or Master Agreement.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cancould not reasonably be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any other Security Party, the Approved ManagerManager or a Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with relevant details of any legal or administrative action involving the Borrower, any other Security PartyParty or any Collateral Vessel, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as the Borrower becomes aware that such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear likely that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any other Security PartyParty (other than the Glencore Guarantors), ST Shipping, the Approved ManagerManager or a Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security PartyParty or any Ship, the Approved Manager, Earnings of any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower or any Security Party that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Partythe Ship owned by it, the Approved Manager, any Ship or the Earnings or the Insurances in respect of that Ship, any Ship Security Party or the Approved Managers, as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of have a Material Adverse Effect, and each Borrower shall procure that all reasonable measures are taken to defend any Finance Documentsuch legal or administrative action.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving that Borrower or the BorrowerShip owned by it, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of or either involving any Collateral Owner, any Tasman Ship or any Shareholder as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any relevant Finance DocumentDocument and the Borrowers shall procure that reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Ship, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ship owned (or, as the case may be, to be acquired) by it, its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide shall procure that the Agent is provided with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the either Ship, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any Security Partythe Guarantor, the Approved Manager, a Sub Manager and any Ship or other Security Party (to the best of its knowledge), any Ship, any Management Agreement, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Facility Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved Managerany Underlying Document to which it is a party, any Ship or the its Ship, its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any Security Party, the Approved ManagerManager and any other Security Party or a Ship, any Ship or the its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered as having a material in adverse effect on the context business, assets or financial condition of them or as affecting the validity or enforceability of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Ship, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or the Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear likely that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with written notice and details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear to the Borrower that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the each Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any the Finance DocumentDocuments.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the a Borrower, any Security Party, the Approved ManagerManagers or a Ship, any Ship or the its Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the a Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, Manager and any Ship other Security Party or the Ship, her Earnings or the her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in as having a Material Adverse Effect on the context business, assets or financial condition of them or as affecting the validity or enforceability of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving any of the BorrowerBorrowers, any other Security Party, the any Approved ManagerManager or any Ship, any Ship or the Earnings or the Insurances of any Ship as soon as any of the Security Parties becomes aware that such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear likely that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security PartyParty or any Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship in an amount equal to or exceeding $1,000,000 as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, Manager or any Ship or the her Earnings or the her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security Party, the Approved ManagerManager or the Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any other Security PartyParty (other than the Glencore Guarantors), ST Shipping, the Approved ManagerManager or the Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by it, any Ship or the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any the Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved Manager, any Party or Ship owned (or the Earnings or the Insurances of any Ship to be owned) by it as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security PartyParty or any Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by it, any Ship or the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document, and each Borrower shall procure that reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Partythe Owner, the Approved ManagerShip, any Ship or the Earnings or the Insurances in respect of the Ship, any Ship Security Party or any Approved Manager, as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance DocumentDocument and the Borrower shall procure that reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, Manager and any Ship other Security Party or the Ship, its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in as having a Material Adverse Effect on the context business, assets or financial condition of them or as affecting the validity or enforceability of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving that Borrower or the BorrowerShip owned by it, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship or either Shareholder as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any relevant Finance DocumentDocument and the Borrowers shall procure that reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Partythe Ship owned by it, the Approved Manager, any Ship or the Earnings or the Insurances in respect of that Ship, any Ship Security Party or the Approved Managers, as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action canis not be considered material in the context of likely to have a Material Adverse Effect, and each Borrower shall procure that all reasonable measures are taken to defend any Finance Documentsuch legal or administrative action.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship or the Ship, her Earnings or the her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, Manager and any Ship other Security Party or the Ship, her Earnings or the her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered as having a material in adverse effect on the context business, assets or financial condition of the Borrower or as affecting the validity or enforceability of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security PartyParty or any Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship in an amount equal to or exceeding $1,000,000 as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear the Borrower reasonably believes that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, an Approved Manager or the Approved ManagerShip owned by it, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance DocumentDocument and the Borrowers shall procure that reasonable measures are taken to defend any such legal or administrative action.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the either Borrower, any Security PartyParty or either Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The the Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, any Ship Manager or the Ships, their Earnings or the their Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.;

Notification of litigation. The Borrower will provide the Agent with details of any legal material litigation, arbitration or administrative action proceedings involving the Borrower, any other Security Party, an Approved Manager that is an affiliate of the Approved ManagerBorrower and managing any Vessel, or any Ship or Vessel, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal litigation, arbitration or administrative action proceedings cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned (or to be owned) by it, any Ship or the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower It will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the any Approved Manager, any Ship Manager or the Ship owned by it, its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower It will and shall procure that each Owner will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the any Approved Manager, any Ship Manager or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager, Manager or any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cancould not reasonably be considered material in the context of any Finance DocumentDocument or any Master Agreement.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security PartyParty or either Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the any Borrower, any Security PartyParty or any Ship, the Approved Manager, any Ship or the its Earnings or the its Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved ManagerAgent or the Ship, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, any Approved Manager or the Approved ManagerShip owned by it, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it such action has been instituted or is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrowerit, any Security Party, the Approved Manager, any Ship or the Ship, the Earnings or the Insurances in respect of any the Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the FSO owned by it, any Ship or the Earnings or the Insurances of any Ship Insurances, the Conversion Contracts, the Service Contracts or the Project as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action involving the that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by it, any Ship or the Earnings or the Insurances in respect of any that Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance DocumentDocument and each Borrower shall ensure that reasonable measures are taken in a timely manner to defend any such legal or administrative action.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved Manager (subject to such action, in the case of the Approved Manager, any Ship or being connected to either of the Ships, their Owners, their Earnings or the their Insurances) or either Ship, her Earnings or her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Borrower Borrowers will provide the Agent with details of any legal or administrative action involving the a Borrower, any Security Party, the Approved ManagerManager and any other Security Party or a Ship, any Ship or the her Earnings or the her Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower Borrowers that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in as having a Material Adverse Effect on the context business, assets or financial condition of them or as affecting the validity or enforceability of any Finance Document.

Notification of litigation. The Borrower will provide the Agent with details of any legal or administrative action involving the Borrower, any Security Party, the Approved ManagerManager (to the best of its knowledge), any Ship or MOA, any Ship, any Management Agreement, the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the Borrower that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document.

Notification of litigation. The Each Borrower will provide the Agent with details of any legal or administrative action creating any Material Adverse Change and involving that Borrower, the BorrowerShip owned by it, the Earnings or the Insurances in respect of that Ship, any Security Party, the Approved Manager, any Ship or the Earnings or the Insurances of any Ship as soon as such action is instituted or it becomes apparent to the that Borrower that it is likely to be instituted, unless it is clear and each Borrower shall procure that reasonable measures are taken for the defence in any such legal or administrative action cannot be considered material in the context of any Finance Documentaction.