Material Litigation Development definition
Material Litigation Development means any Litigation, or development in any Litigation, as the case may be (a) which involves this Agreement, any Related Document or other transactions contemplated hereby or thereby, or (b) which could reasonably be expected to have a Material Adverse Effect.
Material Litigation Development means any ------------------- ------------------------------- Litigation or development in any Litigation which could individually or in the aggregate impair the validity or enforceability of or the ability of the Company to perform any of its obligations under this Agreement or the Notes or the Retail Credit Program Agreement, or materially impair the ability of the Company to conduct business substantially as now conducted, or materially and adversely affect the consolidated business, operations, prospects or financial condition of the Company and its Subsidiaries, taken as a whole.
Material Litigation Development means any Litigation or any development in any Litigation (i) which involves this Agreement or any of the transactions contemplated hereby or thereby (including, without limitation, any judgment, order, injunction or other restraint prohibiting or imposing materially adverse conditions upon the performance by a member of the G&K Group or any Subsidiary of its obligations under or in connection with this Agreement or any Loan Document to which it is a party), (ii) involving uninsured liabilities which could individually or in the aggregate exceed $10,000,000, (iii) which could individually or in the aggregate otherwise impair the validity or enforceability of or the ability of a member of the G&K Group to perform any of its obligations under this Agreement or any Loan Document, (iv) which could individually or in the aggregate materially impair the ability of a member of the G&K Group to conduct business substantially as now conducted, or (v) which could individually or in the aggregate materially and adversely affect the consolidated business, operations, prospects or financial condition of a member of the G&K Group taken as a whole.
Examples of Material Litigation Development in a sentence
Litigation exists except as disclosed on Schedule 7.8, and since the Effective Date no Material Litigation Development has occurred with respect to any Litigation so disclosed on Schedule 7.8.