Common use of Current Proceedings Clause in Contracts

Current Proceedings. None of the Elephant Entities is involved whether as claimant or defendant or other party in any claim, legal action, proceeding, suit, litigation, prosecution, investigation, enquiry, mediation or arbitration (other than as claimant in the collection of debts arising in the ordinary and usual course of its business) which has a dispute value in excess of €1,000,000.