Common use of Notification of litigation Clause in Contracts

Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 8 contracts

Samples: Guarantee (Seanergy Maritime Holdings Corp.), Guarantee (Seanergy Maritime Holdings Corp.), Guarantee (Pyxis Tankers Inc.)

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Notification of litigation. The Guarantor will must provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 6 contracts

Samples: Sponsor Guarantee (Ocean Rig UDW Inc.), Guarantee Agreement (Ocean Rig UDW Inc.), Guarantee Agreement (Ocean Rig UDW Inc.)

Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 4 contracts

Samples: Guarantee (EuroDry Ltd.), Guarantee (EuroDry Ltd.), Guarantee (EuroDry Ltd.)

Notification of litigation. The Guarantor will provide the Lender Owner with details of any legal legal, arbitral or administrative action involving which are current, threatened or pending against the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 3 contracts

Samples: Guarantee, Guarantee, Guarantee

Notification of litigation. The Guarantor will provide the Lender Agent with details of any legal or administrative action involving the Guarantor or any other member of the Group as soon as such action is instituted or it becomes apparent to the Guarantor 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 this GuaranteeGuarantee or any other Finance Document and the Guarantor shall procure that reasonable measures are taken to defend any such legal or administrative action.

Appears in 3 contracts

Samples: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.), Second Amending and Restating Deed (Global Ship Lease, Inc.)

Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 2 contracts

Samples: Guarantee (Box Ships Inc.), Guarantee (Box Ships Inc.)

Notification of litigation. The Guarantor will provide the Lender Issuer with details of any legal or administrative action involving the Guarantor as soon as promptly upon becoming aware of the same where such action is instituted or it becomes apparent to the Guarantor 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 the Guarantor to perform its obligations under this Guarantee.

Appears in 2 contracts

Samples: Guarantee (TBS International PLC), Guarantee Facility Agreement (TBS International LTD)

Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as promptly upon becoming aware of the same where such action is instituted or it becomes apparent to the Guarantor 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 the Guarantor to perform its obligations under this Guarantee.

Appears in 2 contracts

Samples: Guarantee (TBS International PLC), Guarantee (TBS International PLC)

Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guaranteeany Guarantor’s Document.

Appears in 2 contracts

Samples: Guarantee (Capital Product Partners L.P.), Guarantee (Capital Product Partners L.P.)

Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 2 contracts

Samples: Guarantee (International Seaways, Inc.), Guarantee (Euronav NV)

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Notification of litigation. The Guarantor will provide the Lender Bank with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 1 contract

Samples: Guarantee (Excel Maritime Carriers LTD)

Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor or any other member of the Group as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guaranteeany Finance Document.

Appears in 1 contract

Samples: Guarantee (EuroDry Ltd.)

Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 1 contract

Samples: Shareholder Guarantee (Britannia Bulk Holdings Inc)

Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 1 contract

Samples: Guarantee (Box Ships Inc.)

Notification of litigation. The Guarantor will provide the Lender Holder with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor 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 this Guarantee.

Appears in 1 contract

Samples: Guarantee (Seanergy Maritime Holdings Corp.)

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