No Material Proceedings. The Borrower shall ensure that no litigation, arbitration or administrative proceeding on or before any court, arbitral body or agency against any member of the Group has been started or is reasonably likely to be started which have or, if adversely determined, are reasonably likely to have a Material Adverse Effect or which is not covered by adequate insurance.
Appears in 5 contracts
Samples: Agreement (Teekay Offshore Partners L.P.), Loan Agreement (Teekay Offshore Partners L.P.), Loan Agreement (Teekay Offshore Partners L.P.)
No Material Proceedings. The Borrower shall ensure that no litigation, arbitration or administrative proceeding on or before any court, arbitral body or agency against any member of the TOO Group has been started or is reasonably likely to be started which have or, if adversely determined, are reasonably likely to have a Material Adverse Effect or which is not covered by adequate insurance.
Appears in 2 contracts
Samples: Loan Agreement (Teekay Offshore Partners L.P.), Loan Agreement
