Common use of Notification of litigation Clause in Contracts

Notification of litigation. Each Borrower will provide the Lender with details of any legal or administrative action involving either Borrower, any Security Party, the Approved Manager, either Ship, the Earnings or the Insurances as soon as such action is 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved Manager, either Manager or the Ship, the Earnings or the Insurances as soon as such action is 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either any Borrower, any Security Party, the Approved Manager, either any Ship, the Earnings or the Insurances as soon as such action is 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved ManagerManager or the Ships, either Ship, the their Earnings or the their Insurances as soon as such action is instituted or becomes apparent to the Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved Manager, either Manager or the Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the either Approved Manager, either Ship, the their Earnings or the their Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, the Approved Manager, either ShipManager or the Ship owned by it, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to that Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, either of the Owners, any other Security Party, an Approved Manager or the Approved Manager, either ShipShips, the Earnings or the Insurances of either Ship as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, Party or the Approved Manager, either ShipShip owned by it, the Earnings or the Insurances as soon as such action is 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either any Borrower, any Security Party, the Approved Manager, either Manager or any Ship, the its Earnings or the its Insurances as soon as such action is instituted or it becomes apparent to such Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved ManagerManager or the Ships, either Ship, the their Earnings or the their Insurances as soon as such action is instituted or becomes apparent to that Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either Borrowerit, any Security Party, or the Approved Manager, either Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Group, the Approved Manager, either the Ship, the Earnings or the its Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will promptly provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, the Approved Manager, either ShipManager or the Ship owned by it, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to that Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved Manager, either ShipVessel, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, the Approved Manager, either or its Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to that Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Partythe Guarantor, the Approved Manager, either Manager or the Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, the Approved ManagerManager or the Ship owned by that Borrower, either Ship, the its Earnings or the its Insurances as soon as such action is instituted or it becomes apparent to that Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either Borrowerit, any Security Party, the Approved Manager, either Manager or the Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, the Owner, any other Security Party, the Approved Manager, either the Approved Technical Sub-Manager or the Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either Borrowerthe Borrower or the Ship, its Earnings or its Insurances or any Security Party, the Approved Manager, either Ship, the Earnings or the Insurances Party as soon as such action is instituted or it becomes apparent to the Borrower 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 the Finance DocumentDocuments taken as a whole.

Notification of litigation. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, the Approved Manager, either Ship, any New Ship or the Earnings or the Insurances of either Ship as soon as such action is instituted or it becomes apparent to the Borrower 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. 10.11.1 Each Borrower will shall provide the Lender with details of any legal or administrative action involving either that Borrower, any Security Party, Party or the Approved Manager, either Ship, the Earnings or the Insurances Manager as soon as such action is instituted or it becomes apparent to that Borrower 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. Each The Borrower will provide the Lender with details of any legal or administrative action involving either the Borrower, any Security Party, either Approved Manager or the Approved Manager, either Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Borrower 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. Each Borrower will provide the Lender with details of any legal or administrative action involving either Borrower, any Security Party, the Approved ManagerManager or the Ships, either Ship, the their Earnings or Insurances promptly upon becoming aware of the Insurances same where such as soon as such action is 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 that Borrower to perform its obligations under any Finance DocumentDocument to which it is a party.