Common use of Pending Litigation or Other Proceeding Clause in Contracts

Pending Litigation or Other Proceeding. To the knowledge of such Person, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency, or other governmental instrumentality having jurisdiction over such Person or its properties: (i) asserting the invalidity of this Reimbursement Agreement or any other Transaction Document to which such Person is a party; or (ii) seeking any determination or ruling that might materially and adversely affect the validity or enforceability of, this Reimbursement Agreement or any other Transaction Document to which such Person is a party.

Appears in 3 contracts

Sources: Letter of Credit Reimbursement Agreement (Santander Drive Auto Receivables Trust 2007-2), Letter of Credit Reimbursement Agreement (Santander Drive Auto Receivables Trust 2007-1), Letter of Credit Reimbursement Agreement (Santander Drive Auto Receivables Trust 2007-3)