Common use of No Litigation or Regulatory Action Clause in Contracts

No Litigation or Regulatory Action. Except as disclosed in the NetStaff Reports or in Section 4.5 of NetStaff Disclosure Schedule: (i) there are no actions, suits, arbitrations or proceedings pending or, to the knowledge of NetStaff, threatened against, relating to or affecting, nor to the knowledge of NetStaff are there any Governmental or Regulatory Authority investigations or audits pending or threatened against, relating to or affecting, NetStaff or any of its assets and properties which could reasonably be expected to have a Material Adverse Effect on NetStaff or on the ability of NetStaff to consummate the transactions contemplated by this Agreement; (ii) NetStaff is not subject to any Order of any Governmental or Regulatory Authority which is having or could be reasonably expected to have a Material Adverse Effect on NetStaff, or on the ability of NetStaff or Sub to consummate the transactions contemplated by this Agreement; and (iii) there are no material actions, suits, arbitrations or proceedings that NetStaff currently intends to intitate.