Forfeiture Proceedings Clause Samples

Forfeiture Proceedings. An adjudication against any Borrower or any Subsidiary thereof or in any criminal proceedings requiring such Borrower's or such Subsidiary's forfeiture of any asset or assets having, either individually or in the aggregate, a value in excess of One Hundred Thousand Dollars ($100,000); or

Forfeiture Proceedings. Any Forfeiture Proceeding shall have been commenced or the Borrower shall have given any Lender written notice of the commencement of any Forfeiture Proceeding as provided in Section 5.11 or any Lender has a good faith basis to believe that a Forfeiture Proceeding has been threatened or commenced.

Forfeiture Proceedings. An adjudication against any Loan Party or in any criminal proceedings requiring such Loan Party’s forfeiture of any asset or assets having, either individually or in the aggregate, a value in excess of $250,000.

Forfeiture Proceedings. The institution against the Borrower of any criminal proceedings for which forfeiture of any asset or assets; or

Forfeiture Proceedings. The Borrower will not, nor will it permit any Subsidiary to, engage in the conduct of any business or activity which could result in a Forfeiture Proceeding.

Forfeiture Proceedings. On February 15, 2012, the Enforcement Bureau of the Federal Communications Commission adopted and issued a Notice of Apparent Liability for Forfeiture (“Notice”) to Hawaiian Telcom concerning the unauthorized transfer of control of a submarine cable landing license from Verizon Hawaii, Inc. in 2004, and again in 2010 when the company exited bankruptcy. The Notice admitted that the violations were inadvertent. The proposed fine was $16,000. The company paid the proposed forfeiture in accordance with the Notice, within the 30 day time limit established in the Notice.

Forfeiture Proceedings. An adjudication against the Borrower in any criminal proceedings requiring the Company's forfeiture of any asset or assets having, either individually or in the aggregate, a value in excess of One Hundred Thousand Dollars ($100,000); or

Forfeiture Proceedings. An adjudication against a Borrower, any Subsidiary of a Borrower or any Guarantor in any criminal proceedings requiring a Borrower's forfeiture of any material asset or assets; or