Common use of Litigation and Other Material Events Clause in Contracts

Litigation and Other Material Events. Promptly after the commencement thereof, the Company shall deliver to each Series A Noteholder notice of (i) all actions, suits, investigations, litigation, arbitrations and proceedings known to the Issuers against or affecting the Company or any of its Subsidiaries or any of the property or assets thereof in any court or before any arbitrator or by or before any Governmental Authority or court of any kind not previously disclosed by the Company or any of its Subsidiaries that either individually or in the aggregate, would have a Material Adverse Effect, (ii) the occurrence of a Casualty Event; and (iii) (x) the incurrence of any material Lien (other than Permitted Collateral Liens) on, or claim asserted against any of the Collateral or (y) the occurrence of any other event which could materially affect the value of the Collateral.

Litigation and Other Material Events. Promptly after the commencement thereof, the Company shall deliver to each Series A Noteholder and holder of Warrants notice of (i) all actions, suits, investigations, litigation, arbitrations and proceedings known to the Issuers against or affecting the Company or any of its Subsidiaries or any of the property or assets thereof in any court or before any arbitrator or by or before any Governmental Authority or court of any kind not previously disclosed by the Company or any of its Subsidiaries that either individually or in the aggregate, would have a Material Adverse Effect, (ii) the occurrence of a Casualty Event; and (iii) (x) the incurrence of any material Lien (other than Permitted Collateral Liens) on, or claim asserted against any of the Collateral or (y) the occurrence of any other event which could materially affect the value of the Collateral.