Common use of No Litigation Clause in Contracts

No Litigation. No legal or administrative action involving a Borrower (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Law) has been commenced or taken by any person, or, to a Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documents.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets any Borrower's financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No Other than as previously disclosed to the Agent, no legal or administrative action involving a against any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken which, in either case, would which legal or administrative action has or could reasonably be likely expected to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower Borrower, the Approved Manager or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a that Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code and the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower's financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a Borrower the Borrowers (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a that Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrowers’ financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either casecase and if determined adversely, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe MARPOL Protocol) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets that Borrower’s or that Security Party’s financial condition of a Borrower position or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a Borrower the Borrower, the Approved Manager or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower (including any action acting relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower the Borrowers or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s the Borrowers’ knowledge, is likely to be commenced or taken which, in either casecase and if determined adversely, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets either Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken which, in either case, case would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (other than the Other Manager) (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe ISPC Code) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action or investigation involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower or any Owner (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, which in either case, case would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, is pending against or, to a the Borrower’s knowledge, is likely to be commenced or taken whichtaken, in either case, would each case which could reasonably be likely expected to have a material adverse effect on the business, assets Borrower’s business or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentscondition.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe ISPC Code) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s the Borrowers’ knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower or the Corporate Guarantor (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower (including including, without limitation, any action relating to any alleged or actual breach of the ISM Code, Code and the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a the Borrower (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Law) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a Borrower the Borrower, any Owner, any other Security Party or any other member of the Group (including including, without limitation, any action relating to any alleged or actual breach of the ISM Code, Code and the ISPS Code or and/or any Environmental Lawaction relating to any Initial Charterparty) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower the Borrower, an Approved Manager or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a that Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a against either Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s either Borrowers’ knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower Material Adverse Effect or which may affect the legality, validity, binding effect or enforceability of the Finance Documentswould prevent it from meeting its obligations under this Agreement.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any Finance Document (or any document executed in connection with any Finance Document) or any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, has or would reasonably be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, case would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower the Borrower, an Approved Manager or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe 1SPS Code) has been commenced or taken by any person, or, to a either Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or and/or any Environmental Lawactions relating to a Shipbuilding Contract) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower (including including, without limitation, any action relating to any alleged or actual breach of the ISM Code, Code and the ISPS Code or and/or any Environmental Lawaction relating to the Shipbuilding Contract to which it is a party) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s that Borrowers' knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower Material Adverse Effect or which may affect the legality, validity, binding effect or enforceability of the Finance Documentswould prevent it from meeting its obligations under this Agreement.

No Litigation. No legal or administrative action involving a any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe MARPOL Protocol) has been commenced or taken by any person, or, to a Borrower’s the Borrowers’ knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets that Borrower’s or that Security Party’s financial condition of a Borrower position or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action (including, but not limited to, investigative proceedings) involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, taken; which would be likely to have a material adverse effect on the business, assets Borrower's financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a either Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a that Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a against any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be which legal or administrative action has or is likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any Finance Document (or any document executed in connection with any Finance Document) or any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, has or would reasonably be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, the ISPS Code or any Environmental Lawthe MARPOL Protocol) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets that Borrower’s or that Security Party’s financial condition of a Borrower position or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken which, in either casecase and if determined adversely, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party or any Approved Manager (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s 's knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a either Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentstaken.

No Litigation. No legal or administrative action involving a Borrower either Borrower, the Approved Manager or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a either Borrower’s knowledge, is likely to be commenced or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a the Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a the Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets or Borrower’s financial condition of a Borrower position or which may affect the legality, validity, binding effect or enforceability of the Finance Documentswould prevent it from meeting its obligations under this Agreement.

No Litigation. No legal or administrative action involving a any Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets any Borrower’s financial position or financial condition state of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsaffairs.

No Litigation. No legal or administrative action involving a any Borrower (including any action acting relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a Borrower’s the Borrowers’ knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect on the business, assets any Borrower’s financial position or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.

No Litigation. No legal or administrative action involving a any Borrower or any Security Party (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced to the best of the Borrowers' knowledge (having made due and careful enquiry) or taken whichwhich would, in either case, would be likely to have a material adverse effect on the business, assets or financial condition of a Borrower or which may affect the legality, validity, binding effect or enforceability of the Finance DocumentsMaterial Adverse Effect.

No Litigation. No legal or administrative action involving a Borrower (including any action relating to any alleged or actual breach of the ISM Code, Code or the ISPS Code or any Environmental LawCode) has been commenced or taken by any person, or, to a any Borrower’s 's knowledge, is likely to be commenced or taken which, in either case, would be likely to have a material adverse effect Material Adverse Effect on the business, assets a Borrower's or any Security Party's financial condition of a Borrower position or which may affect the legality, validity, binding effect or enforceability of the Finance Documentsprofitability.