Certain Required Notices. Promptly, upon its receipt of notice or knowledge thereof, Borrower will report to Lender: (i) any lawsuit or administrative proceeding in which Borrower or any Subsidiary is a defendant which, if decided adversely to Borrower or such Subsidiary, could reasonably be expected to result in a Material Adverse Change; or (ii) the existence and nature of any Default Condition or Event of Default.
Appears in 3 contracts
Samples: Loan and Security Agreement (Natural Alternatives International Inc), Loan and Security Agreement (Tekgraf Inc), Loan and Security Agreement (Tekgraf Inc)
Certain Required Notices. Promptly, upon its receipt of notice or knowledge thereof, Borrower Agent will report to Lender: (i) any lawsuit or administrative proceeding in which Borrower or any Subsidiary is a defendant which, if decided adversely to Borrower or such Subsidiary, could reasonably be expected to result in a Material Adverse Change; or (ii) the existence and nature of any Default Condition or Event of Default.;
Appears in 2 contracts
Samples: Loan and Security Agreement (National Rv Holdings Inc), Loan and Security Agreement (Tag It Pacific Inc)
Certain Required Notices. Promptly, upon its receipt of notice or knowledge thereof, Borrower will report to Lender: (i) any lawsuit or administrative proceeding in which Borrower or any Subsidiary is a defendant which, if decided adversely to Borrower or such SubsidiaryBorrower, could reasonably be expected to result in a Material Adverse ChangeLien upon any of the Collateral; or (ii) the existence and nature of any Default Condition or Event of Default.
Appears in 1 contract
Samples: Loan and Security Agreement (LCC International Inc)
