Lawsuits. Any suit or administrative action shall be filed against the Borrower or any person or entity that is an equity owner (either directly or indirectly) of the Borrower which, if adversely determined, could substantially impair the ability of the Borrower to perform any of its or his obligations under and by virtue of the Loan Documents and such suit is not dismissed within sixty (60) days.
Appears in 27 contracts
Sources: Forgivable Loan Agreement, Construction Loan Agreement, Home Construction/Permanent Loan Agreement
Lawsuits. Any suit or administrative action shall be filed against the Borrower or any person or entity that is an equity owner (either directly or indirectly) of the Borrower which, if adversely determined, could would substantially impair the ability of the Borrower to perform any of its or his obligations under and by virtue of the Loan Documents and such suit is not dismissed within sixty (60) days.
Appears in 2 contracts
Sources: Home Construction/Permanent Loan Agreement, Home Construction/Permanent Loan Agreement