Except for the litigation disclosed under the headings “Tax Related Matters” and “Asbestos-Related Matters” in IR Parent’s 2015 Form 10-K, there is no action, suit or proceeding pending against, or to the knowledge of IR Parent or any Borrower threatened against or affecting IR Parent, the Borrowers or any of their respective Subsidiaries before any court or arbitrator or any governmental body, agency or official in which there is a reasonable possibility of an adverse decision which would materially adversely affect the business, consolidated financial position or consolidated results of operations of IR Parent and its Consolidated Subsidiaries, taken as a whole, or which in any manner draws into question the validity of this Agreement or the Notes.