Common use of Current Proceedings Clause in Contracts

Current Proceedings. The Seller is not (nor is any person for whose acts or defaults the Seller may be vicariously liable) involved whether as claimant or defendant or other party in any claim, legal action, proceeding, suit, litigation, prosecution, investigation, enquiry, mediation or arbitration (other than as claimant in the collection of debts arising in the ordinary and usual course of its business).

Appears in 2 contracts

Sources: Asset Purchase Agreement (FXCM Inc.), Asset Purchase Agreement (FXCM Inc.)