Common use of Litigation; Compliance with Laws; etc Clause in Contracts

Litigation; Compliance with Laws; etc. (i) Except as disclosed in the 1994 Form 10-K and any subsequent reports filed as of 20 days prior to the Closing Date with the SEC on Form 10-Q or Form 8-K which have been delivered to the Banks, there are no actions, suits or proceedings at law or in equity or by or before any governmental instrumentality or other agency or regulatory authority now pending or, to the knowledge of the Borrowers, threatened against or affecting the Borrowers or any Subsidiary or the businesses, assets or rights of the Borrowers or any Subsidiary (i) which involve this Agreement or any of the other Loan Documents or any of the transactions contemplated hereby or thereby or the collateral for the Loans or (ii) as to which there is a reasonable possibility of an adverse determination and which, if adversely determined, could, individually or in the aggregate, materially impair the ability of FTX or FRP to conduct its business substantially as now conducted, or materially and adversely affect the businesses, assets, operations, prospects or condition, financial or otherwise, of FTX or FRP, or impair the validity or enforceability of, or the ability of FTX or FRP to perform its obligations under, this Agreement or any of the other Loan Documents to which it is a party.

Litigation; Compliance with Laws; etc. (i) Except as disclosed in the 1994 1995 Form 10-K and any subsequent reports filed as of 20 days prior to the Closing Date with the SEC on Form 10-Q or Form 8-K which have been delivered to the Banks, there are no actions, suits or proceedings at law or in equity or by or before any governmental instrumentality or other agency or regulatory authority now pending or, to the knowledge of the Borrowers, threatened against or affecting the Borrowers or any Subsidiary or the businesses, assets or rights of the Borrowers or any Subsidiary (i) which involve this Agreement or any of the other Loan Documents or any of the transactions contemplated hereby or thereby or the any collateral for the Loans or (ii) as to which there is a reasonable possibility of an adverse determination and which, if adversely determined, could, individually or in the aggregate, materially impair the ability of FTX or FRP to conduct its business substantially as now conducted, or materially and adversely affect the businesses, assets, operations, prospects or condition, financial or otherwise, of FTX or FRP, or impair the validity or enforceability of, or the ability of FTX or FRP to perform its obligations under, this Agreement or any of the other Loan Documents to which it is a party.

Litigation; Compliance with Laws; etc. (i) Except as disclosed in the 1994 1995 FTX Form 10-K and any subsequent reports filed as of 20 days prior to the Closing Date date hereof with the SEC on Form 10-Q or Form 8-K which have been delivered to the Banks, there are no actions, suits or proceedings at law or in equity or by or before any governmental instrumentality or other agency or regulatory authority now pending or, to the knowledge knowl- edge of the BorrowersFTX, threatened against or affecting the Borrowers FTX or any Subsidiary of its subsidiaries or the businesses, assets or rights of the Borrowers FTX or any Subsidiary of its subsidiaries (i) which involve this Agreement or any of the other Loan Documents Document or any of the transactions contemplated hereby or thereby or the collateral for the Loans or (ii) as to which there is a reasonable possibility of an adverse determination and which, if adversely determineddeter- mined, could, individually or in the aggregate, materially materi- ally impair the ability of FTX or FRP to conduct its business substantially as now conducted, or materially and adversely affect the businesses, assets, operationsopera- tions, prospects or condition, financial or otherwise, of FTX or FRP, or impair the validity or enforceability of, or the ability of FTX or FRP to perform its obligations under, this Agreement or any of the other Loan Documents to which it is a partyDocument.

Litigation; Compliance with Laws; etc. (i) Except as disclosed in the 1994 FTX Form 10-K and any subsequent reports filed as of 20 days prior to the Closing Date date hereof with the SEC on Form 10-Q or Form 8-K which have been delivered to the Banks, there are no actions, suits or proceedings at law or in equity or by or before any governmental instrumentality or other agency or regulatory authority now pending or, to the knowledge of the BorrowersFTX, threatened against or affecting the Borrowers FTX or any Subsidiary of its subsidiaries or the businesses, assets or rights of the Borrowers FTX or any Subsidiary of its subsidiaries (i) which involve this Agreement or any of the other Loan Documents Document or any of the transactions contemplated hereby or thereby or the collateral for the Loans or (ii) as to which there is a reasonable possibility of an adverse determination and which, if adversely determined, could, individually or in the aggregate, materially impair the ability of FTX or FRP to conduct its business substantially as now conducted, or materially and adversely affect the businesses, assets, operations, prospects or condition, financial or otherwise, of FTX or FRP, or impair the validity or enforceability of, or the ability of FTX or FRP to perform its obligations under, this Agreement or any of the other Loan Documents to which it is a partyDocument.