Common use of Litigation Reports Clause in Contracts

Litigation Reports. Within (i) 90 days after the end of each Fiscal Year, complete reports by counsel to each Company describing all Litigation affecting such Company or any of its Property which could reasonably be expected to (A) result in a Judgment in excess of $500,000 (without regard to insurance coverage); or (B) otherwise have a Material Adverse Effect; and (ii) 45 days after the end of each Fiscal Quarter (except the last) in which a significant change in Litigation has occurred or additional Litigation has been threatened or commenced, reports by counsel to such Company describing such changes in or additions to Litigation since the date of the annual Litigation Report most recently received by the Agent;

Litigation Reports. Within (i) 90 days after the end of each Fiscal Year, complete reports by counsel to each Company describing all Litigation affecting such Company or any of its Property which could reasonably be expected to (A) result in a Judgment in excess of $500,000 (without regard to insurance coverage); ) or (B) otherwise have a Material Adverse Effect; Effect and (ii) 45 days after the end of each Fiscal Quarter (except the last) in which a significant change in Litigation has occurred or additional Litigation has been threatened or commenced, reports by counsel to such Company describing such changes in or additions to Litigation since the date of the annual Litigation Report most recently received by the Agent;