Potential Liability Sample Clauses

Potential Liability. Each Loan Party represents and warrants that, as of the date of this Agreement, and for periods after the date of this Agreement, except as disclosed in writing to the Administrative Agent, no Loan Party has taken any action and is not a party to any litigation that could reasonably be expected to give rise to (i) liability under the False Claims Act, (ii) a claim for price adjustment under the Truth in Negotiations Act, or (iii) to the knowledge of the Loan Parties, any other written request for a reduction in the price of any Government Contract, including claims based on actual or alleged defective pricing. There exists no basis for a claim against any Loan Party in excess of $500,000, individually or in the aggregate, by the Government as a result of defective cost and pricing data submitted to the Government. No Loan Party is participating in any pending claim and no Loan Party is aware of any potential claim under the Contract Disputes Act against the United States Government or any prime contractor, subcontractor or vendor arising under or relating to any Government Contract or Government bid. Except as set forth in Schedule 11.4 hereto, no Loan Party has received any written or, to the knowledge of the Loan Parties, oral notice of any outstanding claims or contract disputes to which such Loan Party is a party relating to the Government Contracts under the Contract Disputes Act or any other federal statute.

Potential Liability. The Responsible Person’s duties, obligations and responsibilities are set forth in this section of the Agreement. By signing this Agreement, Responsible Person acknowledges he/she has read this Agreement, understands the terms herein, and that he/she shall be bound by all terms set forth in this Agreement. This Agreement shall not be construed or operate as a third party guaranty. Responsible Person is only responsible to pay for the costs and charges incurred by Resident under this Agreement from Resident’s income and resources. In the event Responsible Person misuses or misappropriates Resident’s financial resources, then Responsible Person shall be personally liable for the amount of financial resources misused or misappropriated. Responsible Person is responsible to comply with the other duties and obligations set forth in this Agreement.

Potential Liability. 102 11.5 Defaults on Government Contracts ......................................................................102 11.6

Potential Liability. Potential Liability" means any obligation or other liability of the Company (whether due or to become due) of any nature that is not an Accrued Liability, including (i) any such obligation or other liability that is undetermined in dollar amount or that is unliquidated, unmatured or contingent in nature and (ii) any such obligation or other liability that exists or may arise in connection with any of the matters reflected in the Projected Cash Disbursement Schedule or in connection with any Company Contract or (iii) any such obligation or other liability that exists or may arise in connection with any claim, Legal Proceeding (other than that certain Legal Proceeding captioned M&B ▇▇▇▇▇ Family Limited Partnership of 1996 vs. ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, et al., Civil Action No. 20303-NC, in the Court of Chancery of the State of Delaware, except to the extent there shall have been a material adverse development in such Legal Proceeding or any material adverse expansion in the claims or causes of action included in 6. such Legal Proceeding) or other event or circumstance that could give rise to an Accrued Liability or a liability of the type described in clause "(i)" or clause "(ii)" of this sentence.

Potential Liability. The Company’s business plan poses some known and potentially unknown risks to consumers. Claims may arise against the Company for death or injury suffered by consumers when using the products sold by the Company. The Company is subject from time to time to the risk of litigation arising out of the alleged problems resulting from using the products sold. Although GPDB will maintain general liability coverage, the Company may not be able to maintain liability insurance on acceptable terms in the future or may not be able to provide adequate coverage against potential claims. In addition, the Company, from time to time, may be required to incur capital expenditures to bring its products into full compliance with future regulatory acts that may be imposed by the EPA, FDA and OSHA. GPDB’s operations and business practices will be subject to federal, state, and local government regulation in the various jurisdictions in which its products are sold and/or distributed, including regulations that prescribe certain forms and provisions related to product advertising, sale, and financing, and to federal, state and local health regulations. The Company believes that it will be in substantial compliance with all such applicable regulations and that the cost of such compliance is not expected to have a material adverse effect on the Company's financial condition or results of operation. However, future events, such as changes in existing regulations or the enactment of new regulations, could negatively impact the Company's financial condition or results of operation.

Potential Liability. Each Loan Party represents and warrants that, as of the date of this Agreement, and for periods after the date of this Agreement, except as disclosed in writing to the Administrative Agent, no Loan Party has taken any action and is not a party to any litigation that