Common use of Litigation; Adverse Facts Clause in Contracts

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the knowledge of Loan Parties, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a Material Adverse Effect. None of the Loan Parties has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a Material Adverse Effect.

Appears in 4 contracts

Samples: Loan and Security Agreement (Sebring Software, Inc.), Loan and Security Agreement (Intercloud Systems, Inc.), Loan and Security Agreement (Genesis Group Holdings Inc)

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Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there There are no judgments outstanding ------------------------- against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesBorrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of Effect other than as set forth on Schedule 4.9 to the Loan Parties ------------ Agreement. No Loan Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there There are no judgments outstanding against ------------------------- any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesBorrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse EffectEffect other than as set forth on Schedule 4.9 hereof. None of the No Loan Parties ------------ Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there There are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan Partieseach Borrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 2 contracts

Samples: Loan and Security Agreement (Guardian International Inc), Loan and Security Agreement (Guardian International Inc)

Litigation; Adverse Facts. Except as set forth on in Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan Partieseach Borrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the Since December 31, 1995 no Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Belding Heminway Co Inc /De/)

Litigation; Adverse Facts. Except as set forth on Schedule 4.94.10, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan Partiesany Borrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Comforce Operating Co)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan Partiesany Holding Party or any Borrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Comforce Corp)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there There are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesBorrowers after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Editek Inc)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there There are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesBorrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse EffectEffect other than as set forth on Schedule 4.9 hereof. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Credit and Security Agreement (Tower Air Inc)

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Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesBorrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Unitel Video Inc/De)

Litigation; Adverse Facts. Except as set forth on Schedule 4.94.8, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party or any of their respective Subsidiaries nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of any Loan PartiesParty after due inquiry, threatened against or affecting any Loan Party or any of their respective Subsidiaries or any property of any Loan Party or any of their respective Subsidiaries in each case which could would reasonably be expected to have a Material Adverse Effect. None of the Loan Parties has received result in any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (ReFinance America, LTD)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan Partiesany Borrower , threatened against or affecting any Loan Party or any property of any Loan Party which could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel to the effect that it such Loan Party is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (North Face Inc)

Litigation; Adverse Facts. Except as set forth on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the best knowledge of Loan PartiesSystems or either Borrower after due inquiry, threatened against or affecting any Loan Party or any property of any Loan Party which individually or in the aggregate could reasonably be expected to have a result in any Material Adverse Effect. None of the No Loan Parties Party has received any opinion or memorandum or legal advice from legal counsel notice to the effect that it is exposed to any liability which could reasonably be expected to have a result in any Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Gse Systems Inc)

Litigation; Adverse Facts. Except as set forth disclosed on Schedule 4.9, there are no judgments outstanding against any Loan Party or affecting any property of any Loan Party that would have a Material Adverse Effect nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or, to the knowledge of Loan PartiesBorrower, threatened against or affecting any Loan Party or any property of any Loan Party which could would reasonably be expected to have a result in any Material Adverse Effect. None of the Loan Parties has received any opinion or memorandum or legal advice from legal counsel to the effect that it is exposed to any liability which could reasonably be expected to have a Material Adverse Effect.4.10

Appears in 1 contract

Samples: Loan and Security Agreement (Perma Fix Environmental Services Inc)

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