Common use of LITIGATION OR ADMINISTRATIVE PROCEEDINGS Clause in Contracts

LITIGATION OR ADMINISTRATIVE PROCEEDINGS. There exists no litigation or administrative proceedings or other legal or regulatory developments that could be reasonably likely to prohibit or to impose burdensome conditions on the consummation of the Transactions or to result in a Material Adverse Effect.

Appears in 2 contracts

Sources: Senior Loan Agreement (Chartermac), Mezzanine Loan Agreement (Chartermac)