4Litigation. Except as set forth on Disclosure Schedule 3.4, there is no litigation or governmental proceeding currently pending against one or more Borrowers nor shall any such litigation or governmental proceeding have been instituted against one or more Borrowers, which in the sole and complete discretion of the Lender materially adversely affects the financial condition or continued operation of one or more Borrowers.
Appears in 2 contracts
Sources: Credit Facility, Loan and Security Agreement (Peak Resorts Inc), Credit Facility, Loan and Security Agreement (Peak Resorts Inc)