Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 8 contracts
Samples: Agreement (DryShips Inc.), Loan Agreement (Mc Shipping Inc), Supplemental Agreement (TBS International PLC)
Notification of litigation. The Guarantor will must provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 6 contracts
Samples: Sponsor Construction And (Ocean Rig UDW Inc.), Sponsor Construction (Ocean Rig UDW Inc.), Sponsor Guarantee (Ocean Rig UDW Inc.)
Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 2 contracts
Samples: Box Ships Inc., Box Ships Inc.
Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guaranteeany Guarantor’s Document.
Appears in 2 contracts
Samples: Capital Product Partners L.P., Capital Product Partners L.P.
Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as promptly upon becoming aware of the same where such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered might, if adversely determined, have a material in adverse effect on the context ability of the Guarantor to perform its obligations under this Guarantee.
Appears in 2 contracts
Samples: TBS International PLC, TBS International PLC
Notification of litigation. The Guarantor will provide the Lender Security Trustee with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action canis not be considered material in the context of this Guarantee.
Appears in 2 contracts
Samples: International Seaways, Inc., Euronav NV
Notification of litigation. The Guarantor will provide the Lender Issuer with details of any legal or administrative action involving the Guarantor as soon as promptly upon becoming aware of the same where such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered might, if adversely determined, have a material in adverse effect on the context ability of the Guarantor to perform its obligations under this Guarantee.
Appears in 2 contracts
Samples: Guarantee (TBS International PLC), Guarantee Facility Agreement (TBS International LTD)
Notification of litigation. The Guarantor will provide the Lender Agent with details of any legal or administrative action involving the Guarantor or any other member of the Group as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this GuaranteeGuarantee or any other Finance Document and the Guarantor shall procure that reasonable measures are taken to defend any such legal or administrative action.
Appears in 2 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)
Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 1 contract
Samples: Box Ships Inc.
Notification of litigation. The Guarantor will provide the Lender Holder with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 1 contract
Samples: Seanergy Maritime Holdings Corp.
Notification of litigation. The Guarantor will provide the Lender Bank with details of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of this Guarantee.
Appears in 1 contract
Samples: Excel Maritime Carriers LTD
Notification of litigation. The Guarantor will provide the Lender with details of any legal or administrative action involving the Guarantor or any other member of the Group as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the such legal or administrative action cannot be considered material in the context of this Guaranteeany Finance Document.
Appears in 1 contract
Samples: EuroDry Ltd.