Common use of Notification of litigation Clause in Contracts

Notification of litigation. The Guarantor will provide the Agent with details of any legal or administrative action involving the Borrowers, any other Security Party, the Approved Manager or any Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document or Master Agreement.

Notification of litigation. The Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the BorrowersGuarantor, the Borrowers (or either of them), any other Security Party, the Approved Manager or any either Ship, the its Earnings or the its Insurances as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document or Master AgreementDocument.

Notification of litigation. The Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the Borrowers, Guarantor or any other Security Party, member of the Approved Manager or any Ship, the Earnings or the Insurances Group as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the such legal or administrative action cannot be considered material in the context of any Finance Document Document, and the Guarantor shall procure that reasonable measures are taken for the defence in any such legal action or Master Agreementadministrative action.

Notification of litigation. The Corporate Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the BorrowersCorporate Guarantor, the Borrower, any other Security Party, any other member of the Approved Manager or any Group, the Ship, the Earnings or the Insurances as soon as such action is instituted or it becomes apparent to the Corporate Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document or Master Agreementwhich might have a Material Adverse Effect.

Notification of litigation. The Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the Borrowers, any other Security Party, the Approved Manager or any Ship, the Earnings or the Insurances Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cancould not reasonably be considered material in the context of any Finance Document or Master Agreementthis Guarantee.

Notification of litigation. The Corporate Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the BorrowersCorporate Guarantor (other than as disclosed to the Security Trustee at the date of this Guarantee}, any Borrower, any other Security Party, the Approved Manager or any Ship, the Earnings or the Insurances Ship as soon as such action is instituted or it becomes apparent to the Corporate Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document or Master AgreementDocument.

Notification of litigation. The Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the BorrowersGuarantor, any Borrower, any other Security Party, the Approved Manager or any Ship, the Earnings or the Insurances Ship as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered material in the context of any Finance Document or Master AgreementDocument.

Notification of litigation. The Guarantor will provide the Agent Security Trustee with details of any legal or administrative action involving the Borrowers, any other Security Party, Guarantor promptly upon becoming aware of the Approved Manager or any Ship, the Earnings or the Insurances as soon as same where such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be considered might, if adversely determined, have a material in adverse effect on the context ability of any Finance Document or Master Agreementthe Guarantor to perform its obligations under this Guarantee.