Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, or to the Company’s knowledge, the Sponsor, or any executive officer or director of the Company, or its or their property is pending or, to the knowledge of the Company, threatened that (i) would reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) would reasonably be expected to have a Material Adverse Effect, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
Litigation; Government Proceedings. Borrower will give prompt Notice to Lender of any litigation or governmental proceedings pending or, to the best of Borrower’s knowledge, threatened in writing against Borrower or any Borrower Principal which might have a Material Adverse Effect. As and when requested by Lender, Borrower will provide Lender with written updates on the status of all litigation proceedings affecting Borrower or any Borrower Principal.
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, or to the Company’s knowledge, the Sponsors, the Sponsors’ members or any officer or director of the Company, or its or their property is pending or, to the knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), prospects, earnings, business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or to the best knowledge of the Company, any Initial Stockholder, or its or their property is pending or, to the best knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), prospects, earnings, business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
Litigation; Government Proceedings. (a) Borrower will give prompt Notice to Lender of any litigation or governmental proceedings pending or, to the best of Borrower’s knowledge, threatened in writing against Borrower or any Borrower Principal which might have a Material Adverse Effect. As and when requested by Lender, Borrower will provide Lender with written updates on the status of all litigation proceedings affecting Borrower or any Borrower Principal.
(i) Borrower has disclosed to Lender that Property Manager is a party to the following certain consumer class action lawsuits (1) a lawsuit styled “Xxxx Xxxxx v. Steadfast Management Company, Inc. and XXX Xxxxxxx Ranch Apartments, LLC d/b/a Meritage at Xxxxxxx Ranch”, filed in the U.S. District Court - Western District of Texas, Case No. 1:15-cv-00747-RP on August 25, 2015 (the "Xxxxx Lawsuit"), and (2) a lawsuit styled “Xxxxx Xxxxxxx v. Steadfast Management Company, Inc. and SIR Montecito, LLC”, filed in the U.S. District Court - Western District of Texas, Case No. 1:15-cv-01189-RP on December 17, 2015 (the “Xxxxxxx Lawsuit”, together with the Xxxxx Lawsuit, referred to as the “Lawsuits”). The Xxxxx Lawsuit alleges claims for breach of contract related to alleged impermissible utility service fees and alleged unauthorized pest control fees. The Xxxxxxx Lawsuit asserts claims related to prohibited service fees for allocation utility billing, overcharging of water and sewer fees, and violations of the Texas Public Utility Commission’s registration requirements.
(ii) Borrower must provide Lender with updates, in form and substance reasonably acceptable to Lender (but without impairing attorney client confidentiality, requiring disclosure potential defense strategy, or obligating Borrower to incur material additional expense), regarding the status of the Lawsuits within 10 days of Lender's request prior to Securitization and then quarterly updates thereafter or within 10 days of Lender’s written request; provided that copies of any court orders or settlement agreements that are issued or agreed upon in connection with the Lawsuits, together with a summary reasonably acceptable to Lender, must be delivered promptly to Lender upon issuance or execution of such court order or settlement agreement.
1. Purpose for which disbursement is requested:
2. To whom the disbursement will be made (may be the undersigned in the case of reimbursement for advances and payments made or cost incurred for work done by the undersigned):
3. Estimated costs of comple...
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, the Sponsor, or, to the Company’s knowledge, any executive officer or director of the Company, or its or their property is pending or, to the knowledge of the Company, threatened (and in the case of the executive officers or directors of the Company that (i) would reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) would reasonably be expected to have a Material Adverse Effect), except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, or to the Company’s knowledge, any Founder, or its or their property is pending or, to the knowledge of the Company, threatened that (i) would reasonably be expected to have a material adverse effect on the performance by the Company of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) would reasonably be expected to have a Material Adverse Effect.
Litigation; Government Proceedings. There is no action, suit, claim or proceeding pending or, to the knowledge of the Company, threatened against or affecting the Company (including any of its officers, directors or property) or, to the knowledge of the Company, pending or threatened against or affecting any of the Initial Stockholders before any court or administrative agency or otherwise that would reasonably be expected to have a Material Adverse Effect, except as set forth in the Registration Statement, the Preliminary Prospectus and the Prospectus.
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company, the Founding Shareholders or any officer or director of the Company or its or their property is pending or, to the knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby by the Company, the Founding Shareholders or any officer or director of the Company or (ii) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), prospects, earnings, business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
Litigation; Government Proceedings. No action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or its property is pending or, to the knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise), prospects, earnings, business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the General Disclosure Package and the Prospectus (exclusive of any supplement thereto).
