Common use of ACTIONS AND SUITS Clause in Contracts

ACTIONS AND SUITS. (a) Except as set forth in Section 3.17(a) of the DISCLOSURE SCHEDULE, there are no actions, suits or proceedings or investigations pending or, to the knowledge of FTFC, threatened against or affecting the business, operations or financial condition of either FTFC or FSB in any court or before any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, and neither FTFC or FSB has any knowledge of any basis for any such action, suit, proceeding or investigation. Except as set forth in Section 3.17 of the DISCLOSURE SCHEDULE, neither FTFC nor FSB is in default in respect of any judgment, order, writ, injunction or decree of any court or any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality. (b) Except as set forth in Section 3.17(b) of the DISCLOSURE SCHEDULE, there are no actions, suits or proceedings instigated, commenced or contemplated by FTFC or FSB against any person or entity, including, but not limited to, foreclosure actions, suits or proceedings or other actions, suits or proceedings to enforce the rights of FTFC or FSB in collateral which secure loans made by FTFC or FSB or otherwise to collect the outstanding balance of loans made by FTFC or FSB.