Material litigation definition

Material litigation means any litigation that, according to

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Material litigation is defined in Section 6.7.

Material litigation has the meaning specified in Section 3.01(e).

Examples of Material litigation in a sentence

• Material litigation shall not include matters in which (a) a Material Party is plaintiff and no counterclaim is pending or (b) Lender determines in its sole discretion that such litigation is immaterial due to settlement, insurance coverage, frivolity or amount of claim.

• Material litigation or action shall include any individual litigation or action in which Owner’s liability could exceed $20,000.00 per Asset, involving more than one Asset but shall not include routine foreclosure actions or comparable conversion of the ownership of Collateral or involves claims unrelated to Servicer’s performance under this Agreement or any litigation or action against Owner that does not name Servicer as a party.

• The Company has Furnished to the Investors copies of all pleadings filed with respect to any Material litigation in which the Company and its Subsidiaries are engaged.

• Contractor and any affiliates are expected to conduct themselves and their work in the best interest of the building Owner.

• Borrower will promptly notify Lender of the occurrence of any Material adverse change affecting Borrower or any of its Material Subsidiaries, or any Material litigation, arbitration, claim, investigation or other legal proceeding affecting Borrower or any of its Material Subsidiaries, which in Borrower's reasonable business judgment would be likely to have an Material Adverse Effect.

More Definitions of Material litigation

Material litigation means proceedings that differ from the or- dinary routine litigation incidental to the business. Litigation is ordinary routine litigation if it ordinarily results from the business and does not deviate from the normal business litigation. Litigation involving five percent of the licensee's assets or litigation involv- ing the government would constitute material litigation.

Material litigation means litigation, that according to United States generally accepted accounting principles, is significant to a person's financial health and would be a required disclosure in the person's annual audited financial statements, report to shareholders or similar records.

Material litigation means litigation that, according to generally accepted accounting principles, is significant to an applicant's or a licensee's financial health and must be disclosed in the applicant's or licensee's audited financial statements, report to shareholders, or similar records.

Material litigation means any litigation that, according to generally accepted accounting principles, is deemed significant to an applicant's or licensee's financial health and would be required to be referenced in that entity's annual audited financial statements, report to shareholders, or similar documents.

Material litigation means litigation that, according to generally accepted

Material litigation or "Material Litigation Development" shall mean any Litigation, or development in any Litigation, as the case may be (a) which involves this Agreement, any Related Document or other transactions contemplated hereby or thereby, or (b) which could reasonably be expected to have a Material Adverse Effect.

Material litigation is defined in Section 5.8.