Common use of Notification of litigation Clause in Contracts

Notification of litigation. The Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Guarantor, the Borrowers (or either of them), any other Security Party, either Ship, its Earnings or its Insurances 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 any Finance Document.

Notification of litigation. The Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Guarantor, Guarantor promptly upon becoming aware of the Borrowers (or either of them), any other Security Party, either Ship, its Earnings or its Insurances as soon as 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 any Finance Documentthe Guarantor to perform its obligations under this Guarantee.

Notification of litigation. The Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Guarantor, the Borrowers (or either of them)any Borrower, any other Security Party, either Ship, its Earnings the Approved Manager or its Insurances any Ship 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 any Finance Document.

Notification of litigation. The Corporate Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Corporate Guarantor, the Borrowers (or either of them)Borrower, any other Security Party, either any other member of the Group, the Ship, its the Earnings or its the Insurances as soon as such action is instituted or it becomes apparent to the Corporate 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 any Finance Documentwhich might have a Material Adverse Effect.

Notification of litigation. The Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Guarantor, the Borrowers (Guarantor or either of them), any other Security Party, either Ship, its Earnings or its Insurances 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 any Finance Document, and the Guarantor shall procure that reasonable measures are taken for the defence in any such legal action or administrative action.

Notification of litigation. The Guarantor will provide the Security Trustee with details of any legal or administrative action involving the Guarantor, the Borrowers (or either of them), any other Security Party, either Ship, its Earnings or its Insurances 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 cancould not reasonably be considered material in the context of any Finance Documentthis Guarantee.

Notification of litigation. The Corporate Guarantor will provide the Security Trustee with details of any legal or administrative action involving the GuarantorCorporate Guarantor (other than as disclosed to the Security Trustee at the date of this Guarantee}, the Borrowers (or either of them)any Borrower, any other Security Party, either Ship, its Earnings the Approved Manager or its Insurances any Ship as soon as such action is instituted or it becomes apparent to the Corporate 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 any Finance Document.