Except with respect to the Existing Proceedings, there are no actions, suits, proceedings or Environmental Claims pending or, to the Knowledge of the Borrower, threatened against or affecting any Obligor (including any claims against their Property, at law, in equity or before any arbitrator or before or by any Governmental Authority) in respect of which there is a reasonable likelihood of a determination adverse to any Obligor and which, if determined adversely to such Obligor, would have a Material Adverse Effect and since the date hereof, there have been no material and adverse developments with respect to the Existing Proceedings that would reasonably be expected to have a Material Adverse Effect, in each case, except as has been disclosed by written notice from the Borrower to the Agent.