Common use of Material Adverse Developments Clause in Contracts

Material Adverse Developments. Promptly upon becoming aware of any pending or threatened claim, action, proceeding, litigation, development, or any other information, whether of the type referenced in Section 5.8 hereof or otherwise, that could materially and adversely affect Borrower, Guarantor, any Applicable Underlying Borrower, any Applicable Underlying Guarantor, any Applicable Resort, any Applicable Underlying Loan Collateral, or all or any portion of the Collateral, including but not limited to the ability of Borrower to perform its Obligations hereunder, Borrower shall provide Lender with telephonic notice thereof, immediately followed by telecopied and mailed written confirmation, specifying the nature of such development or information and the anticipated effect thereof; and

Material Adverse Developments. Promptly upon becoming aware of any pending or threatened claim, action, proceeding, litigation, development, or any other information, whether of the type referenced in Section 5.8 5.7 hereof or otherwise, that could materially and adversely affect Borrower, Guarantor, any Applicable Underlying BorrowerDeveloper, any Applicable Underlying Guarantor, any Applicable Resort, any Applicable Underlying Loan Transaction Collateral, or all or any portion of the Collateral, including but not limited to the ability of Borrower to perform its Obligations hereunder, Borrower shall provide Lender with telephonic notice thereof, immediately followed by telecopied and mailed written confirmation, specifying the nature of such development or information and the anticipated effect thereof; and;

Material Adverse Developments. Promptly upon becoming aware of any pending or threatened claim, action, proceeding, litigation, development, or any other information, whether of the type referenced in Section 5.8 5.7 hereof or otherwise, that could materially and adversely affect Borrower, Guarantor, any Applicable Underlying Borrower, any Applicable Underlying Guarantor, any Applicable Resort, any Applicable Underlying Loan Collateral, or all or any portion of the Collateral, including but not limited to the ability of Borrower to perform its Obligations hereunder, Borrower shall provide Lender with telephonic notice thereof, immediately followed by telecopied and mailed written confirmation, specifying the nature of such development or information and the anticipated effect thereof; and;