Common use of 4Litigation Clause in Contracts

4Litigation. There are no actions, suits or other proceedings at law or in equity by or before any Governmental Authority now pending (or threatened in writing or otherwise known to Borrower) against or affecting Borrower, Borrower Representative or the Property, which, if adversely determined, might materially adversely affect the condition (financial or otherwise) or business of Borrower, Borrower Representative or the condition or ownership of the Property.

Appears in 1 contract

Sources: Loan Agreement (Lodging Fund REIT III, Inc.)

4Litigation. There are no No actions, suits or other proceedings at law or in equity by or before any Governmental Authority now are pending (or threatened in writing or otherwise known or, to Borrower) ’s knowledge, threatened, against or affecting BorrowerBorrower before any court, Borrower Representative governmental or administrative body or agency which might result in any material adverse change in the Propertyoperations, whichbusiness, if adversely determinedproperty, might materially adversely affect the assets or condition (financial or otherwise) or business of Borrower, or which would question the validity of this Agreement or of any action taken or to be taken by Borrower Representative pursuant to or the condition or ownership of the Propertyin connection with this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Summer Energy Holdings Inc)