Litigation Summary Clause Samples
A Litigation Summary clause requires the parties to provide a concise overview of any ongoing or past legal proceedings that may be relevant to the agreement. Typically, this involves disclosing the nature, status, and potential impact of lawsuits, claims, or investigations involving the parties. By mandating such disclosure, the clause ensures transparency and allows the other party to assess potential legal risks associated with the transaction or relationship.
Litigation Summary. On each date on which the Officer’s Compliance Certificate is delivered, Seller shall provide to Buyer a true and correct summary of all material actions, notices, proceedings and investigations pending with respect to which Seller has received service of process or other form of notice or, to the best of Seller’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal.
Litigation Summary. To the extent Seller is not prohibited from disclosing, attached hereto as Schedule 7 is a true and correct summary of all material actions, notices, proceedings and investigations pending with respect to which Seller Parties have received service of process or other form of notice or, to the best of Seller Parties’ knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal that (i) questions or challenges the validity or enforceability of any of the Program Agreements or any action to be taken in connection with the transactions contemplated hereby, (ii) makes a non-frivolous claim individually in an amount greater than (x) with respect to Seller, [***] and (y) with respect to an Underlying Entity, [***]; provided, that, this clause (ii) shall not include any routine actions brought by or on behalf of an individual Mortgagor with respect to which Seller is acting in its capacity as servicer (which shall include without limitation, contested foreclosures, contested actions or bankruptcy proceedings) or (iii) which, individually or in the aggregate, would be reasonably likely to have a Material Adverse Effect, as of the calendar month ending [DATE].
Litigation Summary. Attached hereto as Schedule 4 is a true and correct summary of all actions, notices, proceedings and investigations pending with respect to which the Applicable Party has received service of process or other form of notice or, to the best of Applicable Party’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal.
Litigation Summary. On each date on which the Officer’s Compliance Certificate is delivered, Seller Parties shall provide to Administrative Agent and each Buyer a true and correct summary of all material actions, notices, proceedings and investigations pending with respect to which any Seller Party has received service of process or other form of notice or, to the best of the related Seller Party’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal.
Litigation Summary. Reports summarizing pending or future threatened litigation involving Seller or Guarantor, in excess of $100,000 or $500,000, respectively, or which has the potential for judgment in excess of $100,000 or $500,000, respectively, if no specified damages are set forth therein.
Litigation Summary. Attached hereto as Schedule 6 is a true and correct summary of all material actions, notices, proceedings and investigations five percent (5%) of Seller’s New Worth individually or in the aggregate pending with respect to which Seller has received service of process or other form of notice or, to the best of Seller’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal as of the calendar month ending [DATE].
Litigation Summary. On each date on which the Officer’s Compliance Certificate is delivered, the Repo Seller shall provide to the Buyer a true and correct summary of all material actions, notices, proceedings and investigations pending with respect to which the Repo Seller has received service of process or other form of notice or, to the best of the Repo Seller’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal.
Litigation Summary. Attached hereto in the lender certification package is a true and correct summary of all material actions, notices, proceedings and investigations exceeding five percent (5%) of the Seller’s Net Worth individually or in the aggregate pending with respect to which Seller has received service of process or other form of notice or, to the best of Seller’s knowledge, threatened against it, before any court, administrative or governmental agency or other regulatory body or tribunal as of the calendar month ending [_], 20[_].
Litigation Summary. Evidence that the Borrower maintains product liability insurance in excess of Fifty Thousand and 00/100 Dollars ($50,000.00), as well as evidence that ▇▇▇▇▇▇▇ Corporation is responsible for all product liability claims which predate May 11, 2001, with insurance coverage limits of not less than Three Hundred Million and 00/100 Dollars ($300,000,000.00). See Exhibit `D"