Common use of Notification of litigation Clause in Contracts

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or the Earnings or the Insurances of 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 the Finance Documents.

Notification of litigation. The Borrower will shall provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or the Earnings or the Insurances of the Ship Borrower 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 this Agreement and the Finance Security Documents.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved ManagerManager or any Ship, the Ship or the its Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the any Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or any Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved ManagerManager or the Ship, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or any Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the either Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or any Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the either Borrower, the Owner, any other Security Party, the Approved Manager, the Ship or either Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the either Ship, any New Ship or the Earnings or the Insurances of the either 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the either Approved Manager, the Ship or the either Ship, their Earnings or the their Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship Approved Technical Sub-Manager or the Ship, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship Manager or the Ships, their Earnings or the their Insurances of the 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, either Approved Manager or the Approved ManagerShip, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the Approved Manager, Manager or the Ship or owned by it, the Earnings or the Insurances of the 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, either of the OwnerOwners, any other Security Party, an Approved Manager or the Approved ManagerShips, the Ship or the Earnings or the Insurances of the either 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the Approved Manageror its Ship, the Ship or the Earnings or the Insurances of the 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security PartyGuarantor, the Approved ManagerManager or the Ship, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved ManagerManager or the Ship, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the either Borrower, the Owner, any other Security Party, the Approved Manager, the Ship Manager or the Ships, their Earnings or the Insurances promptly upon becoming aware of the Ship same where such 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 might, if adversely determined, have a material in adverse effect on the context ability of the that Borrower to perform its obligations under any Finance DocumentsDocument to which it is a party.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Ownerit, any other Security Party, or the Approved ManagerShip, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship Borrower or the Ship, its Earnings or the its Insurances of the Ship or any Security 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 the Finance DocumentsDocuments taken as a whole.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the Approved Manager, Party or the Ship or owned by it, the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will promptly provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the Approved Manager, Manager or the Ship or owned by it, the Earnings or the Insurances of the 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved ManagerVessel, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Group, the Approved Manager, the Ship or Ship, the Earnings or the its Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the Ship Manager or the Ships, their Earnings or the their Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Owner, any other Security Party, the Approved Manager, the each Ship or the Earnings or the Insurances of the each 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 the Finance Documents.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the Approved Manager, Manager or the Ship or the owned by that Borrower, its Earnings or the its Insurances of the 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower will provide the Lender with details of any legal or administrative action involving the Borrower, the Ownerit, any other Security Party, the Approved ManagerManager or the Ship, the Ship or the Earnings or the Insurances of 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 the any Finance DocumentsDocument.

Notification of litigation. The Each Borrower will provide the Lender with details of any legal or administrative action involving the any Borrower, the Owner, any other Security Party, the Approved ManagerManager or any Ship, the Ship or the its Earnings or the its Insurances of the Ship as soon as such action is instituted or it becomes apparent to the such 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 the any Finance DocumentsDocument.

Notification of litigation. The Borrower It will provide the Lender with details of any legal or administrative action involving the that Borrower, the Owner, any other Security Party, the any Approved Manager, Manager or the Ship or the owned by it, its Earnings or the its Insurances of the 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 the any Finance DocumentsDocument.