Common use of Litigation and defaults Clause in Contracts

Litigation and defaults. The members of the Target Group are not subject to any outstanding judgements, orders or decrees of any court or any undertaking to any court, judicial authority or supra-national, governmental or quasi-governmental body or any outstanding arbitration award; no injunction or interdict has been granted against any of the members of the Target Group; there are no civil, criminal or arbitration proceedings in progress or pending against any of the members of the Target Group or against any person for whose acts or defaults the members of the Target Group is or may be vicariously liable and there are no facts known to the Warrantors likely to give rise to any such proceedings.