Litigation Updates Sample Clauses
The Litigation Updates clause requires parties to inform each other about any ongoing or new legal proceedings that may affect their agreement or interests. Typically, this involves promptly notifying the other party if a lawsuit, investigation, or regulatory action is initiated or progresses in a way that could impact the contractual relationship. By mandating regular communication about legal matters, this clause ensures transparency and allows both parties to assess potential risks or take necessary actions in response to litigation developments.
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Litigation Updates. The Loan Parties shall provide the Administrative Agent every two (2) weeks with updates in writing, in form and substance reasonably acceptable to the Administrative Agent, as to the status of the litigation described on Exhibit D to the Second Limited Waiver and any other litigation that would reasonably be expected to result in monetary judgment(s) or relief, individually or in the aggregate, in excess of $3,500,000 or seeks an injunction or other equitable relief which would reasonably be expected to have a Material Adverse Effect (collectively, the “Material Litigation”), including updates as to the status of any stays, appeals or stays, judgments, and the issuance of bonds in connection with the appeal of such Material Litigation, along with copies of all material pleadings, orders, and judgements that any Loan Party or any of its officers, managers, or directors have received and documentation evidencing the issuance of any such bonds and the stay of such Material Litigation, with the next such update to be delivered on January 23, 2019, no later than 4:00 pm Central Time (or such later date as the Administrative Agent may agree to in writing in its sole discretion).
Litigation Updates. 57 6.36 NHC NETWORK, LLC ................................................................................. 57 6.37 COMMERCIALLY REASONABLE EFFORTS TO CAUSE EXCLUDED SUBSIDIARIES TO BECOME LOAN PARTIES ....................................... 58 6.38
Litigation Updates. The Borrower shall provide the Agent and the Lenders with periodic updates with respect to any litigation or other material proceedings involving the Borrower.
Litigation Updates. In connection with the UFAS Lawsuit, Borrower must provide, or cause to be provided, to Lender periodic updates regarding the status of the UFAS Lawsuit within 10 days of Lender’s request prior to Securitization, if applicable, and then quarterly updates thereafter or within 10 days of Lender’s written request; provided that copies of any court orders or settlement agreements that are issued or agreed upon in connection with the UFAS Lawsuit, together with a summary acceptable to Lender, must be delivered promptly to Lender upon issuance or execution of such court order or settlement agreement. The following definitions must be added to Article XII: