Except for Litigation in which Borrower is exclusively a plaintiff without a counterclaim, cross claim, or similar action asserted against Borrower and except as previously disclosed to the Bank in writing in connection with Borrower’s application for the Loan (the “ Existing Litigation ”), or as otherwise later disclosed in the public filings of Impac Mortgage Holdings Inc., Borrower is not involved in, nor is Borrower aware of the threat of, any Litigation which would have a Material Adverse Effect, and there are no material outstanding or unpaid judgments against Borrower in an amount of $5,000,000.00 or more unpaid longer than thirty (30) days from the date of the order of judgment, and which are not stayed or pending appeal, except as previously disclosed to the Bank in writing in connection with Borrower’s application for the Loan (the “ Unpaid Judgments ”).