Common use of Litigation and Investigations Clause in Contracts

Litigation and Investigations. No Group Company is party to any material litigation, administrative or arbitration proceeding (whether as plaintiff, defendant or otherwise) and, so far as the Manager is aware, no such material litigation, administrative, regulatory, arbitration or mediation proceeding is pending or threatened and there are no circumstances reasonably likely to give rise to any such proceeding. For the purposes of this Section 12, material means a proceeding where the amount being claimed exceeds €1,000,000 or where an unfavourable outcome could reasonably be expected to have a Material Adverse Effect.