Pending Litigation - Retained Liabilities Sample Clauses

Pending Litigation - Retained Liabilities. (a) Xxxxx Xxxxxx, Xxxxxxx Xxxxxx, Sr., Xxx Xxxxx on behalf of themselves and all other similarly situated v. The Prime Group Real Estate Investment Trust, Rubber Material Handling, Inc., Xxx XxXxxxx, Enterprise Center I, L.P., K-P Enterprise Centers Limited Partnership, K-P Enterprise Centers, Inc., East Chicago Enterprise Center Limited Partnership, KILICO Realty Corporation and The Prime Group, Inc., Case No. 45C019408CT01629, filed in the Circuit Court of Lake County, Crown Point, Indiana, on August 9, 1994 (First Amended Complaint filed on March 18, 1995). This class action was brought on behalf of the people residing in the vicinity of the building owned by Enterprise Center I, L.P. ("EC1LP") The plaintiffs alleged that the storing of tires and shredded tires on the premises owned by EC1LP was an ultrahazardous activity and that the smoke released as a result of the fire contained hazardous and toxic substances. The plaintiffs further allege that, as a result of the fire and the smoke released as a result thereof, the plaintiffs suffered personal injuries, bodily pain, mental anguish and property damage and were deprived of the use and enjoyment of their homes, for which they are entitled to damages in unspecified amounts. The plaintiffs alleged that EC1LP, its general partner (K-P Enterprise Centers Limited Partnership), the general partner of its general partner (K-P Enterprise Centers, Inc.), its predecessor in interest (East Chicago Enterprise Center Limited Partnership) and the general partners of its predecessor in interest (KILICO Realty Corporation and Prime) were negligent in allowing the allegedly hazardous situation to exist. A settlement in this action was reached in October, 1996, and, in February, 1997, pursuant to the terms of the settlement agreement, EC1LP make a payment of $400,000 in full and final settlement of this action. EC1LP, The Prime Group, Inc. and the other related defendants were represented in this action by Xxxxx X. Xxxxx, Esq. of Winston & Xxxxxx. Recently, approximately 60 additional people who were not included in the certified class have sought to intervene in this action. If these people are not allowed to intervene, it is expected that they will file a separate action. Liability resulting from the foregoing will be retained by PGI.
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Related to Pending Litigation - Retained Liabilities

  • Litigation Matters If the FDIC Party and the Assuming Institution do not agree to submit the Dispute Item to arbitration, the Dispute Item may be resolved by litigation in accordance with Federal or state law, as provided in Section 13.10 of the Purchase and Assumption Agreement. Any litigation shall be filed in a United States District Court in the proper district.

  • Retained Liabilities The Retained Liabilities shall remain the sole responsibility of and shall be retained, paid, performed and discharged solely by Seller. “Retained Liabilities” shall mean every Liability of Seller other than the Assumed Liabilities, including:

  • Pending Litigation There are no actions, suits, proceedings or written agreements pending, or, to the Company’s knowledge, threatened or proposed, against the Company or any of its Subsidiaries at law or in equity or before or by any federal, state, municipal, or other governmental department, commission, board, or other administrative agency, domestic or foreign, that, either separately or in the aggregate, would reasonably be expected to have a Material Adverse Effect on the Company and any of its Subsidiaries, taken as a whole, or affect issuance or payment of the Subordinated Notes; and neither the Company nor any of its Subsidiaries is a party to or named as subject to the provisions of any order, writ, injunction, or decree of, or any written agreement with, any court, commission, board or agency, domestic or foreign, that either separately or in the aggregate, will have a Material Adverse Effect on the Company and any of its Subsidiaries, taken as a whole.

  • Excluded Liabilities Buyer shall not assume and shall not be responsible to pay, perform or discharge any of the following liabilities or obligations of Seller (collectively, the “Excluded Liabilities”):

  • Assumed Liabilities; Excluded Liabilities (a) Pursuant to the terms and subject to the conditions of this Agreement, at the Closing, Sellers shall sell, convey, deliver, transfer and assign to Buyer (or its designated Affiliate), and Buyer (or its designated Affiliate) shall assume from Sellers the Assumed Liabilities.

  • Litigation and Undisclosed Liabilities There are no actions, suits or proceedings pending or, to Purchaser’s knowledge, threatened against Purchaser, or obligations or liabilities (whether or not accrued, contingent or otherwise) or, to Purchaser’s knowledge, facts or circumstances that could reasonably be expected to result in any claims against or obligations or liabilities of Purchaser that, individually or in the aggregate, would have a Material Adverse Effect.

  • Certain Litigation Matters The Owner Trustee shall provide prompt written notice to the Depositor, the Seller and the Servicer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate.

  • Litigation and Contingent Liabilities No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

  • Employee Liabilities All Liabilities with respect to employees which -------------------- relate primarily to the Company Business.

  • No Threatened or Pending Litigation On the Closing Date, no suit, action or other proceeding, or injunction or final judgment relating thereto, shall be threatened or be pending before any court or governmental or regulatory official, body or authority in which it is sought to restrain or prohibit or to obtain damages or other relief in connection with this Agreement or the consummation of the transactions contemplated hereby, and no investigation that might result in any such suit, action or proceeding shall be pending or threatened.

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